Nuveen LLC Reduces Holdings in Danaher Corporation $DHR

Nuveen LLC decreased its holdings in shares of Danaher Corporation (NYSE:DHR) by 0.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,583,145 shares of the conglomerate’s stock after selling 17,721 shares during the period. Nuveen LLC’s holdings in Danaher were worth $1,278,094,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of DHR. Norges Bank purchased a new stake in shares of Danaher during the fourth quarter worth about $2,177,106,000. Viking Global Investors LP boosted its position in Danaher by 543.9% in the second quarter. Viking Global Investors LP now owns 2,907,515 shares of the conglomerate’s stock valued at $574,351,000 after buying an additional 2,455,994 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Danaher by 104.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,333,056 shares of the conglomerate’s stock valued at $991,923,000 after buying an additional 2,216,789 shares during the last quarter. Generation Investment Management LLP boosted its position in Danaher by 34.0% in 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 buying an additional 1,689,020 shares during the last quarter. Finally, Capital International Investors boosted its position in Danaher by 8.9% in the fourth quarter. Capital International Investors now owns 18,246,008 shares of the conglomerate’s stock valued at $4,177,386,000 after buying an additional 1,487,768 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on DHR shares. Evercore upped their target price on Danaher from $225.00 to $232.00 and gave the company an “outperform” rating in a research report on Tuesday, April 21st. HSBC dropped their target price on Danaher from $270.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Piper Sandler started coverage on Danaher in a research report on Thursday. They issued a “neutral” rating and a $200.00 target price on the stock. TD Cowen dropped their target price on Danaher from $245.00 to $240.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Danaher in a research report on Friday, March 27th. 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $233.61.

Danaher Trading Down 1.6%

Shares of NYSE:DHR opened at $180.65 on Friday. Danaher Corporation has a 12-month low of $160.93 and a 12-month high of $242.80. The company has a market capitalization of $127.86 billion, a PE ratio of 34.94, a PEG ratio of 2.45 and a beta of 0.81. The business has a 50 day moving average of $181.15 and a two-hundred day moving average of $204.96. The company has a current ratio of 1.87, a quick ratio of 1.52 and a debt-to-equity ratio of 0.33.

Danaher (NYSE:DHR) last announced its quarterly earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. Danaher had a return on equity of 10.91% and a net margin of 14.89%.The company had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $6 billion. During the same period 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. As a group, analysts forecast that Danaher Corporation will post 8.43 EPS for the current year.

Danaher Announces Dividend

The business 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 $0.40 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. Danaher’s payout ratio is presently 30.95%.

About Danaher

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.