Envestnet Portfolio Solutions Inc. Trims Position in Danaher Corporation $DHR

Envestnet Portfolio Solutions Inc. lessened its holdings in shares of Danaher Corporation (NYSE:DHR) by 8.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 71,669 shares of the conglomerate’s stock after selling 6,968 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Danaher were worth $16,403,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Stronghold Wealth Management L.L.C. purchased a new position in shares of Danaher during the 4th quarter worth $429,000. Entrust Financial LLC purchased a new position in shares of Danaher during the 4th quarter worth $48,000. Mission Wealth Management LP lifted its stake in shares of Danaher by 8.5% during the 4th quarter. Mission Wealth Management LP now owns 16,204 shares of the conglomerate’s stock worth $3,709,000 after purchasing an additional 1,265 shares during the period. High Note Wealth LLC lifted its stake in shares of Danaher by 19.2% during the 4th quarter. High Note Wealth LLC now owns 292 shares of the conglomerate’s stock worth $67,000 after purchasing an additional 47 shares during the period. Finally, Gabelli Funds LLC raised its position in shares of Danaher by 0.3% in the 4th quarter. Gabelli Funds LLC now owns 18,981 shares of the conglomerate’s stock worth $4,345,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Insider Buying and Selling at Danaher

In other news, EVP Gregory M. Milosevich sold 1,320 shares of Danaher stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $208.01, for a total transaction of $274,573.20. Following the sale, the executive vice president owned 5,099 shares of the company’s stock, valued at approximately $1,060,642.99. The trade was a 20.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 10.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on DHR. UBS Group cut their target price on Danaher from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Danaher in a research report on Friday, March 27th. Argus cut their target price on Danaher from $265.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Wells Fargo & Company cut their target price on Danaher from $240.00 to $212.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 22nd. Finally, Rothschild & Co Redburn set a $205.00 target price on Danaher in a research report on Friday, April 17th. Nineteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $238.65.

Danaher Stock Up 1.9%

Shares of Danaher stock opened at $166.97 on Wednesday. The business has a 50-day moving average of $184.97 and a 200-day moving average of $209.60. 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 capitalization of $118.18 billion, a PE ratio of 32.30, a P/E/G ratio of 2.19 and a beta of 0.81. Danaher Corporation has a 1-year low of $160.93 and a 1-year high of $242.80.

Danaher (NYSE:DHR) last posted its quarterly earnings results on Monday, April 20th. The conglomerate reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The business had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $6 billion. Danaher had a return on equity of 10.91% and a net margin of 14.89%.The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the firm earned $1.88 earnings per share. As a group, equities analysts forecast that Danaher Corporation will post 8.43 EPS for the current fiscal year.

Danaher Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, June 26th. Danaher’s payout ratio is 30.95%.

Danaher 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.