Suvretta Capital Management LLC Grows Position in Danaher Corporation $DHR

Suvretta Capital Management LLC lifted its position in Danaher Corporation (NYSE:DHR) by 46.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 255,800 shares of the conglomerate’s stock after purchasing an additional 81,100 shares during the period. Danaher comprises approximately 1.3% of Suvretta Capital Management LLC’s portfolio, making the stock its 29th biggest holding. Suvretta Capital Management LLC’s holdings in Danaher were worth $50,715,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WFA of San Diego LLC purchased a new stake in Danaher during the 2nd quarter valued at $26,000. Howard Hughes Medical Institute purchased a new position in shares of Danaher in the second quarter valued at about $27,000. ANTIPODES PARTNERS Ltd bought a new position in shares of Danaher during the third quarter valued at about $27,000. TruNorth Capital Management LLC purchased a new stake in shares of Danaher during the third quarter worth about $28,000. Finally, Tripletail Wealth Management LLC purchased a new stake in shares of Danaher during the third quarter worth about $31,000. 79.05% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Gregory M. Milosevich sold 1,320 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were 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 in the company, valued at approximately $1,060,642.99. The trade was a 20.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 11.10% of the company’s stock.

Danaher Stock Performance

Danaher stock opened at $187.34 on Friday. Danaher Corporation has a fifty-two week low of $171.00 and a fifty-two week high of $242.80. The stock’s 50 day simple moving average is $218.79 and its two-hundred day simple moving average is $215.34. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.51 and a current ratio of 1.87. The stock has a market cap of $132.47 billion, a price-to-earnings ratio of 37.17, a PEG ratio of 2.52 and a beta of 0.93.

Danaher (NYSE:DHR) last announced its earnings results on Tuesday, January 27th. The conglomerate reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.09. Danaher had a return on equity of 10.81% and a net margin of 14.71%.The firm had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.79 billion. During the same quarter in the prior year, the company earned $2.14 EPS. The business’s revenue was up 4.6% compared to the same quarter last year. As a group, analysts expect that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

Danaher Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Friday, March 27th will be given a dividend of $0.40 per share. This is an increase from Danaher’s previous quarterly dividend of $0.32. This represents a $1.60 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, March 27th. Danaher’s payout ratio is 25.40%.

Wall Street Analysts Forecast Growth

DHR has been the topic of a number of research analyst reports. Robert W. Baird set a $251.00 price target on Danaher in a report on Thursday, January 29th. Guggenheim lifted their price objective on Danaher from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, January 2nd. Argus set a $265.00 target price on Danaher in a research note on Wednesday, January 14th. Morgan Stanley began coverage on Danaher in a report on Monday, December 1st. They set an “overweight” rating and a $270.00 target price for the company. Finally, The Goldman Sachs Group dropped their price target on Danaher from $270.00 to $265.00 and set a “buy” rating for the company in a research note on Thursday, January 29th. Nineteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Danaher has a consensus rating of “Moderate Buy” and a consensus price target of $253.55.

Danaher Company 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.