Danaher Corporation $DHR Shares Sold by Progressive Investment Management Corp

Progressive Investment Management Corp trimmed its holdings in Danaher Corporation (NYSE:DHR) by 1.1% during the second quarter, Holdings Channel reports. The institutional investor owned 44,587 shares of the conglomerate’s stock after selling 499 shares during the period. Danaher makes up 2.2% of Progressive Investment Management Corp’s portfolio, making the stock its 20th biggest holding. Progressive Investment Management Corp’s holdings in Danaher were worth $8,808,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in DHR. Nuveen LLC acquired a new stake in Danaher in the 1st quarter worth about $833,941,000. Invesco Ltd. lifted its stake in shares of Danaher by 44.5% in the 1st quarter. Invesco Ltd. now owns 4,708,578 shares of the conglomerate’s stock valued at $965,259,000 after purchasing an additional 1,450,703 shares in the last quarter. Baird Financial Group Inc. lifted its stake in shares of Danaher by 290.6% in the 1st quarter. Baird Financial Group Inc. now owns 1,441,706 shares of the conglomerate’s stock valued at $295,550,000 after purchasing an additional 1,072,617 shares in the last quarter. Generation Investment Management LLP lifted its stake in shares of Danaher by 33.2% in the 1st quarter. Generation Investment Management LLP now owns 3,178,124 shares of the conglomerate’s stock valued at $651,515,000 after purchasing an additional 791,662 shares in the last quarter. Finally, Parnassus Investments LLC lifted its stake in shares of Danaher by 23.3% in the 1st quarter. Parnassus Investments LLC now owns 3,828,024 shares of the conglomerate’s stock valued at $784,745,000 after purchasing an additional 722,636 shares in the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

Danaher Stock Performance

Shares of NYSE:DHR opened at $209.14 on Friday. The company has a market cap of $149.76 billion, a P/E ratio of 44.50, a PEG ratio of 3.01 and a beta of 0.77. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.22 and a current ratio of 1.62. Danaher Corporation has a one year low of $171.00 and a one year high of $275.51. The business’s 50-day simple moving average is $201.60 and its 200 day simple moving average is $197.29.

Danaher (NYSE:DHR) last announced its earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 EPS for the quarter, beating the consensus estimate of $1.64 by $0.16. The business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.83 billion. Danaher had a return on equity of 10.70% and a net margin of 14.21%.The company’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the business posted $1.72 EPS. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. On average, sell-side analysts forecast that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, September 26th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, September 26th. This represents a $1.28 annualized dividend and a yield of 0.6%. Danaher’s payout ratio is currently 27.23%.

Insider Transactions at Danaher

In other Danaher news, Director Teri List sold 2,778 shares of Danaher stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $211.06, for a total transaction of $586,324.68. Following the sale, the director directly owned 20,751 shares in the company, valued at $4,379,706.06. The trade was a 11.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wells Fargo & Company reduced their price objective on Danaher from $210.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 23rd. Royal Bank Of Canada set a $241.00 price objective on Danaher in a research note on Tuesday, September 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Danaher in a research note on Wednesday, October 8th. Barclays reaffirmed an “overweight” rating and issued a $225.00 price objective (up from $215.00) on shares of Danaher in a research note on Tuesday, June 24th. Finally, Robert W. Baird raised their target price on Danaher from $229.00 to $236.00 and gave the company an “outperform” rating in a report on Wednesday. Seventeen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Danaher currently has an average rating of “Moderate Buy” and an average target price of $245.00.

About Danaher

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.