Connor Clark & Lunn Investment Management Ltd. Sells 38,672 Shares of Danaher Co. (NYSE:DHR)

by · The Cerbat Gem

Connor Clark & Lunn Investment Management Ltd. cut its stake in Danaher Co. (NYSE:DHR – Free Report) by 28.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,868 shares of the conglomerate’s stock after selling 38,672 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Danaher were worth $26,653,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Benjamin Edwards Inc. raised its position in shares of Danaher by 1.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 2,153 shares of the conglomerate’s stock valued at $538,000 after buying an additional 38 shares in the last quarter. Wedge Capital Management L L P NC boosted its holdings in shares of Danaher by 3.2% in the 3rd quarter. Wedge Capital Management L L P NC now owns 1,231 shares of the conglomerate’s stock valued at $342,000 after purchasing an additional 38 shares in the last quarter. Patrick M Sweeney & Associates Inc. increased its stake in shares of Danaher by 3.4% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,230 shares of the conglomerate’s stock valued at $307,000 after purchasing an additional 40 shares during the last quarter. Trust Co of Kansas raised its holdings in shares of Danaher by 4.1% during the 2nd quarter. Trust Co of Kansas now owns 1,022 shares of the conglomerate’s stock worth $255,000 after buying an additional 40 shares in the last quarter. Finally, Abacus Planning Group Inc. boosted its stake in Danaher by 0.7% in the second quarter. Abacus Planning Group Inc. now owns 5,439 shares of the conglomerate’s stock valued at $1,359,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DHR. Wells Fargo & Company started coverage on shares of Danaher in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $280.00 target price for the company. Robert W. Baird reduced their price objective on Danaher from $278.00 to $277.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Leerink Partners increased their target price on Danaher from $275.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Bank of America boosted their price target on Danaher from $270.00 to $275.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, TD Cowen lifted their target price on shares of Danaher from $310.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $287.16.

Read Our Latest Report on DHR

Insiders Place Their Bets

In other Danaher news, SVP Georgeann Couchara sold 952 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $268.37, for a total value of $255,488.24. Following the transaction, the senior vice president now owns 4,212 shares of the company’s stock, valued at approximately $1,130,374.44. The trade was a 18.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.90% of the stock is currently owned by insiders.

Danaher Stock Performance

Shares of Danaher stock opened at $233.10 on Thursday. Danaher Co. has a 52 week low of $213.61 and a 52 week high of $281.70. The company has a quick ratio of 1.01, a current ratio of 1.37 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average price of $259.67 and a 200-day moving average price of $260.13. The company has a market cap of $168.36 billion, a PE ratio of 44.48, a price-to-earnings-growth ratio of 4.24 and a beta of 0.85.

Danaher (NYSE:DHR – Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.14. The business had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.59 billion. Danaher had a return on equity of 10.62% and a net margin of 16.39%. Danaher’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.02 EPS. Equities analysts anticipate that Danaher Co. will post 7.51 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, September 27th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.46%. The ex-dividend date was Friday, September 27th. Danaher’s dividend payout ratio (DPR) is presently 20.61%.

Danaher Company Profile

(Free Report)

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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