Concentric Capital Strategies LP Sells 5,790 Shares of Danaher Co. (NYSE:DHR)

Concentric Capital Strategies LP reduced its holdings in Danaher Co. (NYSE:DHR - Free Report) by 80.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,392 shares of the conglomerate's stock after selling 5,790 shares during the quarter. Concentric Capital Strategies LP's holdings in Danaher were worth $320,000 at the end of the most recent quarter.

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Several other hedge funds have also recently made changes to their positions in the business. First Hawaiian Bank boosted its stake in shares of Danaher by 10.9% during the 4th quarter. First Hawaiian Bank now owns 5,220 shares of the conglomerate's stock valued at $1,198,000 after purchasing an additional 512 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV lifted its holdings in Danaher by 1.9% in the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 47,003 shares of the conglomerate's stock worth $10,790,000 after buying an additional 897 shares during the period. ORG Partners LLC boosted its position in Danaher by 1,212.8% during the 4th quarter. ORG Partners LLC now owns 2,770 shares of the conglomerate's stock valued at $636,000 after acquiring an additional 2,559 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Danaher by 0.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 199,493 shares of the conglomerate's stock worth $45,794,000 after acquiring an additional 591 shares during the period. Finally, ST Germain D J Co. Inc. raised its position in shares of Danaher by 13.9% in the 4th quarter. ST Germain D J Co. Inc. now owns 3,558 shares of the conglomerate's stock worth $817,000 after acquiring an additional 433 shares in the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Danaher Stock Up 0.9 %

DHR stock opened at $194.86 on Friday. The company has a market cap of $139.45 billion, a price-to-earnings ratio of 36.90, a P/E/G ratio of 2.66 and a beta of 0.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.05 and a current ratio of 1.40. The business's 50-day moving average is $198.72 and its two-hundred day moving average is $219.95. Danaher Co. has a fifty-two week low of $171.00 and a fifty-two week high of $281.70.

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Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.26. Danaher had a net margin of 16.33% and a return on equity of 10.82%. The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.58 billion. As a group, analysts forecast that Danaher Co. will post 7.63 earnings per share for the current year.

Danaher Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, June 27th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.66%. Danaher's dividend payout ratio is presently 24.85%.

Wall Street Analysts Forecast Growth

• Will Danaher stock hit new highs in 2024?

Several equities research analysts recently weighed in on DHR shares. Raymond James reaffirmed a "market perform" rating on shares of Danaher in a research note on Monday, February 3rd. Barclays upped their target price on shares of Danaher from $205.00 to $215.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 22nd. Jefferies Financial Group dropped their price objective on shares of Danaher from $260.00 to $230.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. UBS Group decreased their target price on shares of Danaher from $275.00 to $240.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Citigroup reissued a "buy" rating on shares of Danaher in a research report on Monday, April 7th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Danaher presently has a consensus rating of "Moderate Buy" and an average target price of $264.40.

Get Our Latest Stock Report on Danaher

Insiders Place Their Bets

In related news, EVP Christopher Paul Riley sold 15,805 shares of Danaher stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $198.00, for a total transaction of $3,129,390.00. Following the transaction, the executive vice president now owns 15,179 shares in the company, valued at approximately $3,005,442. The trade was a 51.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 11.10% of the company's stock.

Danaher 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.

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