Bank of New York Mellon Corp Sells 373,161 Shares of Danaher Corporation $DHR

Bank of New York Mellon Corp lowered its holdings in Danaher Corporation (NYSE:DHR) by 4.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,410,324 shares of the conglomerate’s stock after selling 373,161 shares during the quarter. Bank of New York Mellon Corp owned about 1.17% of Danaher worth $1,661,375,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Sierra Ocean LLC raised its holdings in shares of Danaher by 116.9% in the 1st quarter. Sierra Ocean LLC now owns 141 shares of the conglomerate’s stock worth $29,000 after acquiring an additional 76 shares during the last quarter. Red Tortoise LLC boosted its stake in Danaher by 175.0% during the 2nd quarter. Red Tortoise LLC now owns 154 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 98 shares during the last quarter. Costello Asset Management INC bought a new stake in Danaher during the 1st quarter worth approximately $41,000. Ramirez Asset Management Inc. purchased a new stake in shares of Danaher in the second quarter worth approximately $40,000. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its holdings in shares of Danaher by 53.8% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 203 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 71 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Danaher Stock Performance

Shares of DHR stock opened at $215.63 on Monday. The firm’s 50 day moving average is $203.41 and its 200 day moving average is $199.60. The stock has a market capitalization of $152.31 billion, a P/E ratio of 44.46, a PEG ratio of 3.28 and a beta of 0.77. Danaher Corporation has a 12 month low of $171.00 and a 12 month high of $258.23. The company has a current ratio of 1.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.33.

Danaher (NYSE:DHR) last issued its earnings results on Tuesday, October 21st. The conglomerate reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The business had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $6 billion. Danaher had a net margin of 14.44% and a return on equity of 10.92%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.71 EPS. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. On average, sell-side analysts anticipate that Danaher Corporation will post 7.63 earnings per share for the current year.

Danaher Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Friday, September 26th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $1.28 dividend on an annualized basis and a yield of 0.6%. Danaher’s dividend payout ratio is 26.39%.

Analyst Upgrades and Downgrades

DHR has been the topic of several recent analyst reports. TD Cowen raised their price objective on Danaher from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft upped their price objective on Danaher from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Rothschild Redb cut Danaher from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. Bank of America decreased their price objective on shares of Danaher from $230.00 to $220.00 and set a “buy” rating for the company in a report on Monday, September 22nd. Finally, Barclays boosted their target price on shares of Danaher from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.39.

Insider Transactions at Danaher

In other news, Director Teri List sold 2,778 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $211.06, for a total transaction of $586,324.68. Following the sale, the director directly owned 20,751 shares in the company, valued at $4,379,706.06. This represents a 11.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 11.10% of the company’s stock.

About Danaher

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.