Connor Clark & Lunn Investment Management Ltd. Decreases Position in Danaher Co. (NYSE:DHR)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of Danaher Co. (NYSE:DHR) by 28.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 95,868 shares of the conglomerate’s stock after selling 38,672 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Danaher were worth $26,653,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Benjamin Edwards Inc. boosted its stake in Danaher by 1.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 2,153 shares of the conglomerate’s stock worth $538,000 after purchasing an additional 38 shares during the period. Wedge Capital Management L L P NC grew its holdings in shares of Danaher by 3.2% during the third quarter. Wedge Capital Management L L P NC now owns 1,231 shares of the conglomerate’s stock worth $342,000 after purchasing an additional 38 shares in the last quarter. Patrick M Sweeney & Associates Inc. lifted its holdings in shares of Danaher by 3.4% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,230 shares of the conglomerate’s stock worth $307,000 after acquiring an additional 40 shares during the last quarter. Trust Co of Kansas grew its position in Danaher by 4.1% in the second quarter. Trust Co of Kansas now owns 1,022 shares of the conglomerate’s stock worth $255,000 after acquiring an additional 40 shares in the last quarter. Finally, Abacus Planning Group Inc. increased 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 acquiring an additional 40 shares during the last quarter. 79.05% of the stock is owned by institutional investors.

Insider Transactions at Danaher

In related news, SVP Georgeann Couchara sold 952 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $268.37, for a total transaction of $255,488.24. Following the sale, the senior vice president now owns 4,212 shares of the company’s stock, valued at $1,130,374.44. The trade was a 18.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 10.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DHR. Stifel Nicolaus upped their price objective on Danaher from $250.00 to $265.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Barclays cut their target price on Danaher from $285.00 to $275.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Leerink Partners lifted their price target on shares of Danaher from $275.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group upped their price objective on shares of Danaher from $225.00 to $250.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, KeyCorp lifted their target price on shares of Danaher from $290.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $287.16.

Danaher Trading Up 1.0 %

Shares of DHR opened at $233.10 on Thursday. Danaher Co. has a 1-year low of $213.61 and a 1-year high of $281.70. The company has a current ratio of 1.37, a quick ratio of 1.01 and a debt-to-equity ratio of 0.32. The firm’s 50-day moving average price is $259.67 and its 200-day moving average price is $260.13. The firm has a market capitalization of $168.36 billion, a price-to-earnings ratio of 44.48, a PEG ratio of 4.24 and a beta of 0.85.

Danaher (NYSE:DHR) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.14. Danaher had a return on equity of 10.62% and a net margin of 16.39%. The firm had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.59 billion. During the same quarter in the prior year, the business earned $2.02 EPS. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. Sell-side analysts anticipate that Danaher Co. will post 7.51 EPS for the current year.

Danaher Dividend Announcement

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

Danaher Profile

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.