Clark Capital Management Group Inc. Cuts Stock Position in Danaher Corporation $DHR

Clark Capital Management Group Inc. lessened its position in shares of Danaher Corporation (NYSE:DHR) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 222,161 shares of the conglomerate’s stock after selling 3,380 shares during the period. Clark Capital Management Group Inc.’s holdings in Danaher were worth $50,857,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its position in shares of Danaher by 1.7% during the 4th quarter. State Street Corp now owns 27,681,334 shares of the conglomerate’s stock valued at $6,345,529,000 after buying an additional 472,608 shares during the last quarter. Capital International Investors lifted its position in shares of Danaher by 8.9% during the 4th quarter. Capital International Investors now owns 18,246,008 shares of the conglomerate’s stock valued at $4,177,386,000 after buying an additional 1,487,768 shares during the last quarter. Norges Bank purchased a new position in shares of Danaher during the 4th quarter valued at $2,177,106,000. Generation Investment Management LLP lifted its position in shares of Danaher by 14.1% during the 4th quarter. Generation Investment Management LLP now owns 7,589,661 shares of the conglomerate’s stock valued at $1,737,425,000 after buying an additional 934,995 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Danaher by 14.9% during the 4th quarter. Franklin Resources Inc. now owns 4,931,303 shares of the conglomerate’s stock valued at $1,128,874,000 after buying an additional 637,666 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. The Goldman Sachs Group dropped their price target on Danaher from $265.00 to $230.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. Wells Fargo & Company dropped their price objective on Danaher from $240.00 to $212.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 22nd. Guggenheim dropped their price objective on Danaher from $275.00 to $235.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Piper Sandler initiated coverage on Danaher in a report on Thursday, June 11th. They set a “neutral” rating and a $200.00 price objective on the stock. Finally, Argus dropped their price objective on Danaher from $265.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $233.61.

Danaher Price Performance

Shares of NYSE DHR opened at $181.57 on Wednesday. The firm has a market capitalization of $128.51 billion, a P/E ratio of 35.12, a P/E/G ratio of 2.31 and a beta of 0.81. The company has a quick ratio of 1.52, a current ratio of 1.87 and a debt-to-equity ratio of 0.33. The stock’s 50-day simple moving average is $180.54 and its two-hundred day simple moving average is $203.94. Danaher Corporation has a twelve month low of $160.93 and a twelve month high of $242.80.

Danaher (NYSE:DHR) last announced its earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The business had revenue of $5.95 billion for the quarter, compared to analyst estimates of $6 billion. Danaher had a return on equity of 10.91% and a net margin of 14.89%.The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.88 EPS. As a group, equities analysts anticipate that Danaher Corporation will post 8.45 EPS for the current fiscal year.

Danaher Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, June 26th will be issued a $0.40 dividend. The ex-dividend date is Friday, June 26th. This represents a $1.60 annualized dividend and a yield of 0.9%. Danaher’s dividend payout ratio (DPR) is 30.95%.

Danaher Company Profile

Danaher Corporation (NYSE: DHR) is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher’s portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.