Suvretta Capital Management LLC Acquires 81,100 Shares of Danaher Corporation $DHR

Suvretta Capital Management LLC grew its holdings in shares of Danaher Corporation (NYSE:DHR) by 46.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 255,800 shares of the conglomerate’s stock after acquiring an additional 81,100 shares during the period. Danaher makes up approximately 1.3% of Suvretta Capital Management LLC’s portfolio, making the stock its 29th largest holding. Suvretta Capital Management LLC’s holdings in Danaher were worth $50,715,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Danaher by 1.3% during the second quarter. Vanguard Group Inc. now owns 60,769,587 shares of the conglomerate’s stock valued at $12,004,424,000 after buying an additional 788,499 shares during the last quarter. Capital International Investors grew its stake in shares of Danaher by 1.9% in the third quarter. Capital International Investors now owns 16,758,240 shares of the conglomerate’s stock worth $3,318,926,000 after acquiring an additional 312,951 shares during the last quarter. Norges Bank bought a new position in shares of Danaher during the second quarter valued at $1,979,503,000. Generation Investment Management LLP increased its holdings in shares of Danaher by 34.0% during the third quarter. Generation Investment Management LLP now owns 6,654,666 shares of the conglomerate’s stock valued at $1,319,354,000 after acquiring an additional 1,689,020 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Danaher by 4.0% in the 2nd quarter. Franklin Resources Inc. now owns 4,822,442 shares of the conglomerate’s stock worth $952,625,000 after purchasing an additional 186,357 shares during the last quarter. Institutional investors own 79.05% of the company’s stock.

Danaher Price Performance

DHR opened at $187.34 on Friday. The company’s 50-day simple moving average is $218.79 and its two-hundred day simple moving average is $215.34. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.51 and a current ratio of 1.87. The stock has a market capitalization of $132.47 billion, a P/E ratio of 37.17, a P/E/G ratio of 2.52 and a beta of 0.93. Danaher Corporation has a 52-week low of $171.00 and a 52-week high of $242.80.

Danaher (NYSE:DHR) last announced its quarterly earnings results on Tuesday, January 27th. The conglomerate reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.09. Danaher had a net margin of 14.71% and a return on equity of 10.81%. The firm had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.79 billion. During the same period in the previous year, the business posted $2.14 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, analysts predict that Danaher Corporation will post 7.63 EPS for the current year.

Danaher Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Friday, March 27th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, March 27th. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. This is a boost from Danaher’s previous quarterly dividend of $0.32. Danaher’s dividend payout ratio (DPR) is presently 25.40%.

Wall Street Analyst Weigh In

Several brokerages recently commented on DHR. JPMorgan Chase & Co. increased their price objective on shares of Danaher from $270.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. HSBC lifted their target price on shares of Danaher from $255.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, December 1st. Morgan Stanley assumed coverage on shares of Danaher in a report on Monday, December 1st. They set an “overweight” rating and a $270.00 price target on the stock. Argus set a $265.00 price objective on shares of Danaher in a report on Wednesday, January 14th. Finally, Jefferies Financial Group upped their price objective on Danaher from $255.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Nineteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $253.55.

Insider Activity

In other Danaher news, EVP Gregory M. Milosevich sold 1,320 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $208.01, for a total value of $274,573.20. Following the transaction, the executive vice president owned 5,099 shares of the company’s stock, valued at approximately $1,060,642.99. This represents a 20.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.10% of the stock is currently owned by company insiders.

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.