Weitz Investment Management Inc. Cuts Stock Holdings in Danaher Corporation $DHR

Weitz Investment Management Inc. lessened its stake in Danaher Corporation (NYSE:DHR) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 513,950 shares of the conglomerate’s stock after selling 13,000 shares during the period. Danaher accounts for about 7.0% of Weitz Investment Management Inc.’s portfolio, making the stock its 2nd largest position. Weitz Investment Management Inc. owned 0.07% of Danaher worth $117,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DHR. Elevated Capital Advisors LLC bought a new stake in shares of Danaher during the fourth quarter valued at approximately $26,000. Hilton Head Capital Partners LLC bought a new position in Danaher in the fourth quarter worth approximately $27,000. JPL Wealth Management LLC purchased a new position in Danaher during the 3rd quarter worth $25,000. WFA of San Diego LLC bought a new stake in Danaher during the 2nd quarter valued at $26,000. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in shares of Danaher in the 3rd quarter worth $27,000. Institutional investors own 79.05% of the company’s stock.

Analysts Set New Price Targets

DHR has been the topic of a number of recent research reports. Robert W. Baird dropped their price target on Danaher from $251.00 to $249.00 and set an “outperform” rating on the stock in a research report on Friday, April 17th. HSBC lowered their price objective on shares of Danaher from $270.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, June 3rd. Morgan Stanley dropped their target price on shares of Danaher from $270.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, April 22nd. TD Cowen reduced their price target on shares of Danaher from $245.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $245.00 price target on shares of Danaher in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $233.61.

Danaher Price Performance

Shares of DHR stock opened at $180.65 on Friday. The stock’s 50-day moving average is $181.15 and its 200 day moving average is $204.96. 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. The company has a market cap of $127.86 billion, a P/E ratio of 34.94, a PEG ratio of 2.45 and a beta of 0.81.

Danaher (NYSE:DHR) last released its quarterly earnings results on Monday, April 20th. The conglomerate reported $2.06 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $6 billion. During the same period in the prior year, the firm posted $1.88 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. Research analysts predict that Danaher Corporation will post 8.43 earnings per share for the current fiscal year.

Danaher Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, June 26th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, June 26th. Danaher’s dividend 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.