Lombard Odier Asset Management Europe Ltd Sells 13,452,987 Shares of Danaher Corporation $DHR

by · The Cerbat Gem

Lombard Odier Asset Management Europe Ltd cut its stake in Danaher Corporation (NYSE:DHR – Free Report) by 99.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,421 shares of the conglomerate’s stock after selling 13,452,987 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Danaher were worth $13,145,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Guggenheim cut their target price on Danaher from $275.00 to $235.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. HSBC cut their price objective on shares of Danaher from $270.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Wall Street Zen cut shares of Danaher from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. The Goldman Sachs Group dropped 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 Monday, April 13th. Finally, Piper Sandler assumed coverage on shares of Danaher in a report on Thursday, June 11th. They set a “neutral” rating and a $200.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $233.61.

View Our Latest Analysis on Danaher

Danaher Trading Up 0.3%

NYSE:DHR opened at $181.57 on Wednesday. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80. The company has a market cap of $128.51 billion, a PE ratio of 35.12, a price-to-earnings-growth ratio of 2.31 and a beta of 0.81. The company has a current ratio of 1.87, a quick ratio of 1.52 and a debt-to-equity ratio of 0.33. The company has a 50 day simple moving average of $180.54 and a two-hundred day simple moving average of $203.94.

Danaher (NYSE:DHR – Get Free Report) last released its quarterly earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.12. Danaher had a return on equity of 10.91% and a net margin of 14.89%.The business had revenue of $5.95 billion during the quarter, compared to analyst estimates of $6 billion. During the same quarter in the previous year, the company posted $1.88 earnings per share. Danaher’s revenue for the quarter was up 3.7% on a year-over-year basis. Research analysts forecast that Danaher Corporation will post 8.45 earnings per share for the current year.

Danaher Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, June 26th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.60 annualized dividend and a yield of 0.9%. Danaher’s payout ratio is currently 30.95%.

Danaher Company Profile

(Free Report)

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.

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