Petredis Investment Advisors LLC Cuts Stock Position in Danaher Co. (NYSE:DHR)

Petredis Investment Advisors LLC decreased its holdings in Danaher Co. (NYSE:DHR) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,484 shares of the conglomerate’s stock after selling 252 shares during the period. Petredis Investment Advisors LLC’s holdings in Danaher were worth $2,407,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Coronation Fund Managers Ltd. boosted its holdings in shares of Danaher by 29.9% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 6,389 shares of the conglomerate’s stock worth $1,596,000 after purchasing an additional 1,470 shares during the period. Public Sector Pension Investment Board raised its position in Danaher by 119.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 19,503 shares of the conglomerate’s stock valued at $4,873,000 after purchasing an additional 10,628 shares in the last quarter. MBB Public Markets I LLC raised its position in shares of Danaher by 2,224.7% in the 2nd quarter. MBB Public Markets I LLC now owns 49,887 shares of the conglomerate’s stock worth $12,464,000 after acquiring an additional 47,741 shares in the last quarter. Legal & General Group Plc raised its position in shares of Danaher by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 5,964,031 shares of the conglomerate’s stock worth $1,490,112,000 after acquiring an additional 139,989 shares in the last quarter. Finally, Select Equity Group L.P. grew its stake in Danaher by 5.5% during the 2nd quarter. Select Equity Group L.P. now owns 402,017 shares of the conglomerate’s stock worth $100,444,000 after buying an additional 21,023 shares during the last quarter. Institutional investors own 79.05% of the company’s stock.

Danaher Stock Performance

Shares of Danaher stock opened at $245.95 on Friday. Danaher Co. has a one year low of $225.42 and a one year high of $281.70. The company has a market cap of $177.65 billion, a price-to-earnings ratio of 46.94, a PEG ratio of 4.43 and a beta of 0.83. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.37. The business’s 50 day moving average price is $235.02 and its 200 day moving average price is $253.41.

Danaher (NYSE:DHR) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.14. Danaher had a return on equity of 10.62% and a net margin of 16.39%. The firm had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.59 billion. During the same quarter last year, the business posted $2.02 earnings per share. The firm’s revenue was up 3.1% compared to the same quarter last year. On average, research analysts predict that Danaher Co. will post 7.5 EPS for the current year.

Danaher Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, December 27th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, December 27th. This represents a $1.08 dividend on an annualized basis and a yield of 0.44%. Danaher’s payout ratio is 20.61%.

Analyst Ratings Changes

Several research firms have weighed in on DHR. KeyCorp boosted their price target on Danaher from $290.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Barclays dropped their price objective on Danaher from $285.00 to $275.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. TD Cowen raised their price objective on Danaher from $310.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Raymond James dropped their price objective on Danaher from $300.00 to $275.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Scotiabank began coverage on Danaher in a report on Monday, December 23rd. They issued a “sector perform” rating and a $265.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $285.55.

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.