Danaher Corporation $DHR Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC reduced its position in Danaher Corporation (NYSE:DHR) by 42.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 241,890 shares of the conglomerate’s stock after selling 178,196 shares during the quarter. Danaher makes up about 0.9% of Cannell & Spears LLC’s investment portfolio, making the stock its 28th biggest holding. Cannell & Spears LLC’s holdings in Danaher were worth $47,957,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. WFA of San Diego LLC acquired a new position in shares of Danaher in the 2nd quarter worth approximately $26,000. Howard Hughes Medical Institute bought a new stake in shares of Danaher in the 2nd quarter valued at approximately $27,000. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Danaher during the 3rd quarter valued at approximately $27,000. TruNorth Capital Management LLC bought a new position in Danaher during the third quarter worth $28,000. Finally, Tripletail Wealth Management LLC bought a new position in Danaher during the third quarter worth $31,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Danaher Stock Up 0.6%

Shares of Danaher stock opened at $187.34 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.87 and a quick ratio of 1.51. Danaher Corporation has a 1-year low of $171.00 and a 1-year high of $242.80. The business’s fifty day moving average price is $218.79 and its two-hundred day moving average price is $215.41. The company has a market capitalization of $132.47 billion, a P/E ratio of 37.17, a PEG ratio of 2.54 and a beta of 0.93.

Danaher (NYSE:DHR) last released its quarterly earnings results on Tuesday, January 27th. The conglomerate reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.09. The company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.79 billion. Danaher had a return on equity of 10.81% and a net margin of 14.71%.The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.14 earnings per share. As a group, research analysts forecast that Danaher Corporation will post 7.63 EPS for the current year.

Danaher Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Friday, March 27th will be given a $0.40 dividend. The ex-dividend date is Friday, March 27th. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. This is a boost from Danaher’s previous quarterly dividend of $0.32. Danaher’s payout ratio is currently 25.40%.

Wall Street Analysts Forecast Growth

DHR has been the subject of several recent research reports. Jefferies Financial Group boosted their target price on shares of Danaher from $255.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Leerink Partners raised their price target on shares of Danaher from $260.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. Guggenheim lifted their price target on shares of Danaher from $250.00 to $275.00 and gave the company a “buy” rating in a report on Friday, January 2nd. KeyCorp reaffirmed an “overweight” rating on shares of Danaher in a research report on Thursday, January 29th. Finally, Wells Fargo & Company increased their price objective on shares of Danaher from $230.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Monday, December 15th. Nineteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Danaher has an average rating of “Moderate Buy” and an average target price of $253.55.

Insider Transactions at Danaher

In other Danaher news, EVP Gregory M. Milosevich sold 1,320 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $208.01, for a total transaction of $274,573.20. Following the transaction, the executive vice president owned 5,099 shares of the company’s stock, valued at approximately $1,060,642.99. This trade represents a 20.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.10% of the stock is owned by corporate insiders.

About Danaher

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.