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

Connor Clark & Lunn Investment Management Ltd. cut its stake in Danaher Co. (NYSE:DHR - Free Report) by 28.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Swedbank AB acquired a new position in Danaher during the first quarter worth $676,545,000. TD Asset Management Inc lifted its stake in Danaher by 99.0% during the second quarter. TD Asset Management Inc now owns 1,358,706 shares of the conglomerate's stock worth $339,473,000 after purchasing an additional 675,952 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Danaher by 22.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,047,728 shares of the conglomerate's stock valued at $761,475,000 after buying an additional 563,546 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Danaher by 40,196.5% during the 3rd quarter. International Assets Investment Management LLC now owns 429,964 shares of the conglomerate's stock valued at $119,539,000 after acquiring an additional 428,897 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Danaher in the 3rd quarter valued at about $77,314,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DHR. TD Cowen lifted their price objective on shares of Danaher from $310.00 to $315.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Leerink Partners increased their price objective on Danaher from $275.00 to $280.00 and gave the company an "outperform" rating in a report on Wednesday, July 24th. The Goldman Sachs Group upped their price target on shares of Danaher from $225.00 to $250.00 and gave the company a "neutral" rating in a research report on Wednesday, July 24th. Stephens restated an "overweight" rating and issued a $315.00 price objective on shares of Danaher in a research note on Wednesday, October 23rd. Finally, KeyCorp raised their price target on Danaher from $290.00 to $310.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $287.16.

Danaher Price Performance

DHR traded down $2.16 during midday trading on Thursday, reaching $230.94. 223,687 shares of the company's stock were exchanged, compared to its average volume of 2,752,965. Danaher Co. has a 1-year low of $215.68 and a 1-year high of $281.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.37 and a quick ratio of 1.01. The business's 50-day moving average price is $259.67 and its 200 day moving average price is $260.13. The stock has a market capitalization of $166.80 billion, a PE ratio of 44.48, a P/E/G ratio of 4.25 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 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.14. The company had revenue of $5.80 billion during the quarter, compared to analysts' expectations of $5.59 billion. Danaher had a return on equity of 10.62% and a net margin of 16.39%. The business's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.02 earnings per share. As a group, equities analysts anticipate that Danaher Co. will post 7.5 EPS for the current fiscal year.

Danaher Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, September 27th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.08 annualized dividend and a yield of 0.47%. Danaher's payout ratio is currently 20.61%.

Insiders Place Their Bets

In related news, SVP Georgeann Couchara sold 952 shares of the business's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $268.37, for a total value of $255,488.24. Following the completion of the sale, the senior vice president now directly owns 4,212 shares in the company, 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 can be accessed through the SEC website. Corporate insiders own 11.10% of the company's stock.

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.