Owl Creek Asset Management L.P. Reduces Stock Position in Danaher Corporation $DHR

Owl Creek Asset Management L.P. decreased its position in Danaher Corporation (NYSE:DHRFree Report) by 45.4% in the 1st quarter, HoldingsChannel reports. The firm owned 34,653 shares of the conglomerate’s stock after selling 28,790 shares during the period. Danaher makes up about 0.5% of Owl Creek Asset Management L.P.’s holdings, making the stock its 17th largest holding. Owl Creek Asset Management L.P.’s holdings in Danaher were worth $6,570,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Main Street Group LTD purchased a new stake in shares of Danaher during the first quarter worth about $25,000. JPL Wealth Management LLC purchased a new position in shares of Danaher during the third quarter valued at approximately $25,000. Elevated Capital Advisors LLC acquired a new stake in Danaher during the fourth quarter worth approximately $26,000. WFA of San Diego LLC acquired a new stake in Danaher during the second quarter worth approximately $26,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in Danaher in the 4th quarter worth approximately $27,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Danaher Stock Up 0.2%

Shares of NYSE DHR opened at $191.87 on Monday. The stock has a market capitalization of $134.88 billion, a PE ratio of 34.08, a P/E/G ratio of 2.38 and a beta of 0.79. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average of $185.64 and a 200-day moving average of $196.76. Danaher Corporation has a 52-week low of $160.93 and a 52-week high of $242.80.

Danaher (NYSE:DHRGet Free Report) last issued its earnings results on Tuesday, July 21st. The conglomerate reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.09. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same period last year, the company posted $0.77 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. On average, analysts anticipate that Danaher Corporation will post 8.53 EPS for the current year.

Danaher Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, June 26th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, June 26th. This represents a $1.60 annualized dividend and a yield of 0.8%. Danaher’s dividend payout ratio is currently 28.42%.

Analyst Ratings Changes

Several brokerages have weighed in on DHR. Piper Sandler assumed coverage on Danaher in a report on Thursday, June 11th. They issued a “neutral” rating and a $200.00 price target for the company. Wall Street Zen downgraded Danaher from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. UBS Group dropped their target price on Danaher from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. Wolfe Research lowered Danaher from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 1st. Finally, Stifel Nicolaus lowered their price target on Danaher from $260.00 to $220.00 and set a “buy” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $228.91.

Read Our Latest Stock Report on DHR

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Danaher Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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