Parnassus Investments LLC Trims Stock Position in Danaher Corporation $DHR

Parnassus Investments LLC trimmed its stake in Danaher Corporation (NYSE:DHR) by 2.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,171,104 shares of the conglomerate’s stock after selling 146,430 shares during the period. Danaher comprises approximately 2.8% of Parnassus Investments LLC’s investment portfolio, making the stock its 7th biggest position. Parnassus Investments LLC owned approximately 0.87% of Danaher worth $1,223,483,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. WFA of San Diego LLC acquired a new stake in shares of Danaher in the second quarter valued at about $26,000. Howard Hughes Medical Institute bought a new stake in Danaher in the second quarter valued at approximately $27,000. TruNorth Capital Management LLC bought a new stake in Danaher in the third quarter valued at approximately $28,000. Red Tortoise LLC increased its position in Danaher by 175.0% during the 2nd quarter. Red Tortoise LLC now owns 154 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 98 shares during the period. Finally, Tripletail Wealth Management LLC bought a new position in Danaher during the 3rd quarter worth approximately $31,000. 79.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Redburn Partners set a $220.00 price objective on shares of Danaher in a research report on Wednesday, October 8th. KeyCorp reaffirmed an “overweight” rating on shares of Danaher in a research report on Thursday, December 18th. Cowen reissued a “buy” rating on shares of Danaher in a research report on Wednesday. Rothschild Redb lowered Danaher from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Finally, Barclays raised their target price on Danaher from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Twenty-one equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Danaher presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.92.

Danaher Stock Performance

Shares of DHR opened at $238.28 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.52 and a quick ratio of 1.10. The stock has a 50-day moving average of $225.77 and a 200-day moving average of $210.51. The company has a market cap of $168.31 billion, a PE ratio of 49.13, a P/E/G ratio of 4.18 and a beta of 0.89. Danaher Corporation has a one year low of $171.00 and a one year high of $258.23.

Danaher (NYSE:DHR) last posted its quarterly earnings results on Monday, October 20th. The conglomerate reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The business had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $6 billion. Danaher had a return on equity of 10.92% and a net margin of 14.44%.The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.71 EPS. On average, equities research analysts predict that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Danaher Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, December 26th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, December 26th. Danaher’s dividend payout ratio (DPR) is currently 26.39%.

Insider Activity at Danaher

In other Danaher news, Director Teri List sold 3,298 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $226.50, for a total value of $746,997.00. Following the transaction, the director directly owned 20,762 shares of the company’s stock, valued at approximately $4,702,593. This trade represents a 13.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Georgeann Couchara sold 5,174 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $210.42, for a total transaction of $1,088,713.08. Following the sale, the senior vice president directly owned 2,625 shares of the company’s stock, valued at approximately $552,352.50. The trade was a 66.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 30,248 shares of company stock valued at $6,609,663. 11.10% of the stock is owned by company 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.