Y Intercept Hong Kong Ltd Acquires New Shares in Danaher Corporation $DHR

Y Intercept Hong Kong Ltd purchased a new position in Danaher Corporation (NYSE:DHR) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 76,280 shares of the conglomerate’s stock, valued at approximately $14,463,000.

Several other large investors also recently modified their holdings of DHR. Bank Pictet & Cie Europe AG increased its stake in shares of Danaher by 25.4% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 366,481 shares of the conglomerate’s stock worth $83,895,000 after purchasing an additional 74,301 shares in the last quarter. Maxi Investments CY Ltd purchased a new position in Danaher during the third quarter valued at $3,251,000. Northwestern Mutual Wealth Management Co. grew its holdings in Danaher by 303.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 248,020 shares of the conglomerate’s stock valued at $56,777,000 after purchasing an additional 186,584 shares during the period. Defender Capital LLC. bought a new stake in Danaher during the fourth quarter valued at about $35,715,000. Finally, CIBC Bancorp USA Inc. purchased a new stake in Danaher in the third quarter worth about $17,480,000. Institutional investors own 79.05% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on DHR shares. Piper Sandler began coverage on Danaher in a research note on Thursday, June 11th. They issued a “neutral” rating and a $200.00 price objective on the stock. Barclays reduced their target price on shares of Danaher from $250.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 14th. Argus decreased their target price on shares of Danaher from $265.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. HSBC lowered their price target on shares of Danaher from $270.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, June 3rd. Finally, TD Cowen dropped their price target on shares of Danaher from $245.00 to $240.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Danaher currently has an average rating of “Moderate Buy” and a consensus price target of $233.61.

Danaher Trading Up 2.1%

Shares of DHR opened at $197.85 on Friday. The firm has a market cap of $140.03 billion, a P/E ratio of 38.27, a price-to-earnings-growth ratio of 2.47 and a beta of 0.79. The company has a 50 day simple moving average of $178.74 and a two-hundred day simple moving average of $200.56. Danaher Corporation has a 1 year low of $160.93 and a 1 year high of $242.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.87 and a quick ratio of 1.52.

Danaher (NYSE:DHR) last announced its quarterly earnings results on Monday, April 20th. The conglomerate reported $2.06 EPS for the quarter, topping the consensus estimate of $1.94 by $0.12. Danaher had a net margin of 14.89% and a return on equity of 10.91%. The business had revenue of $5.95 billion for the quarter, compared to analysts’ expectations of $6 billion. During the same quarter in the previous year, the company earned $1.88 EPS. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities analysts expect that Danaher Corporation will post 8.44 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, June 26th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, June 26th. Danaher’s payout ratio is currently 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.