Danaher Corporation $DHR Position Cut by Manitou Investment Management Ltd.

Manitou Investment Management Ltd. trimmed its stake in Danaher Corporation (NYSE:DHR) by 81.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 18,357 shares of the conglomerate’s stock after selling 78,574 shares during the quarter. Danaher makes up about 0.7% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 14th largest holding. Manitou Investment Management Ltd.’s holdings in Danaher were worth $3,626,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. GFS Advisors LLC bought a new stake in Danaher in the second quarter valued at $641,000. Fifth Third Wealth Advisors LLC lifted its stake in Danaher by 4.6% in the second quarter. Fifth Third Wealth Advisors LLC now owns 6,502 shares of the conglomerate’s stock valued at $1,284,000 after buying an additional 283 shares during the last quarter. Milestones Administradora de Recursos Ltda. increased its holdings in shares of Danaher by 363.9% during the second quarter. Milestones Administradora de Recursos Ltda. now owns 43,370 shares of the conglomerate’s stock valued at $8,567,000 after purchasing an additional 34,020 shares during the period. Conning Inc. increased its holdings in shares of Danaher by 10.2% during the second quarter. Conning Inc. now owns 23,581 shares of the conglomerate’s stock valued at $4,658,000 after purchasing an additional 2,181 shares during the period. Finally, Eastern Bank increased its holdings in shares of Danaher by 1.6% during the second quarter. Eastern Bank now owns 186,533 shares of the conglomerate’s stock valued at $36,848,000 after purchasing an additional 2,958 shares during the period. 79.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wall Street Zen raised Danaher from a “hold” rating to a “buy” rating in a report on Friday, June 27th. Barclays reissued an “overweight” rating and set a $225.00 price target (up from $215.00) on shares of Danaher in a report on Tuesday, June 24th. Robert W. Baird raised their price target on Danaher from $225.00 to $226.00 and gave the company an “outperform” rating in a report on Friday, July 18th. Guggenheim reissued a “buy” rating and set a $250.00 price target on shares of Danaher in a report on Wednesday, July 23rd. Finally, UBS Group lowered their price target on Danaher from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Seventeen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $244.60.

Insiders Place Their Bets

In related news, Director Teri List sold 2,778 shares of Danaher stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $211.06, for a total value of $586,324.68. Following the transaction, the director owned 20,751 shares of the company’s stock, valued at approximately $4,379,706.06. This trade represents a 11.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 11.10% of the company’s stock.

Danaher Price Performance

Shares of Danaher stock opened at $202.53 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $200.66 and its two-hundred day moving average price is $197.16. Danaher Corporation has a 52 week low of $171.00 and a 52 week high of $279.41. The stock has a market cap of $145.02 billion, a PE ratio of 43.09, a price-to-earnings-growth ratio of 2.88 and a beta of 0.77.

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

Danaher Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, September 26th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $1.28 dividend on an annualized basis and a yield of 0.6%. Danaher’s dividend payout ratio (DPR) is currently 27.23%.

Danaher Company Profile

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.