Connor Clark & Lunn Investment Management Ltd. Reduces Position in Danaher Corporation $DHR

Connor Clark & Lunn Investment Management Ltd. lowered its position in Danaher Corporation (NYSE:DHR) by 61.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 48,680 shares of the conglomerate’s stock after selling 78,142 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Danaher were worth $9,616,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Boyd Watterson Asset Management LLC OH boosted its stake in Danaher by 2.1% during the 2nd quarter. Boyd Watterson Asset Management LLC OH now owns 2,524 shares of the conglomerate’s stock worth $499,000 after purchasing an additional 51 shares during the period. Worth Financial Advisory Group LLC raised its holdings in shares of Danaher by 4.6% in the second quarter. Worth Financial Advisory Group LLC now owns 1,195 shares of the conglomerate’s stock valued at $236,000 after buying an additional 53 shares during the last quarter. 1834 Investment Advisors Co. boosted its stake in shares of Danaher by 3.3% during the first quarter. 1834 Investment Advisors Co. now owns 1,666 shares of the conglomerate’s stock worth $342,000 after buying an additional 54 shares during the period. Bruce G. Allen Investments LLC grew its holdings in shares of Danaher by 13.1% during the second quarter. Bruce G. Allen Investments LLC now owns 467 shares of the conglomerate’s stock worth $92,000 after buying an additional 54 shares during the last quarter. Finally, Texas Bank & Trust Co increased its position in Danaher by 1.6% in the 2nd quarter. Texas Bank & Trust Co now owns 3,567 shares of the conglomerate’s stock valued at $705,000 after acquiring an additional 55 shares during the period. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Teri List sold 2,778 shares of Danaher stock in a transaction 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 completion of the transaction, the director directly owned 20,751 shares of the company’s stock, valued at approximately $4,379,706.06. The trade was a 11.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 11.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

DHR has been the subject of a number of recent research reports. Rothschild & Co Redburn reaffirmed a “neutral” rating and set a $220.00 price objective (down from $245.00) on shares of Danaher in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft increased their price target on Danaher from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Guggenheim reiterated a “buy” rating and issued a $250.00 price objective on shares of Danaher in a research report on Wednesday, July 23rd. UBS Group cut their price objective on shares of Danaher from $240.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Danaher in a report on Wednesday, October 8th. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.39.

Danaher Stock Performance

Shares of DHR opened at $215.80 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 0.33. Danaher Corporation has a 52-week low of $171.00 and a 52-week high of $258.23. The company has a 50-day simple moving average of $204.36 and a 200-day simple moving average of $200.64. The company has a market capitalization of $152.43 billion, a PE ratio of 44.49, a P/E/G ratio of 3.28 and a beta of 0.81.

Danaher (NYSE:DHR) last issued its earnings results on Tuesday, October 21st. The conglomerate reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. Danaher had a net margin of 14.44% and a return on equity of 10.92%. The company had revenue of $6.05 billion for the quarter, compared to analyst estimates of $6 billion. During the same period in the prior year, the business posted $1.71 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. Equities research analysts predict that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Friday, September 26th were issued a $0.32 dividend. The ex-dividend date was Friday, September 26th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.6%. Danaher’s dividend payout ratio is currently 26.39%.

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.