Quadrant Capital Group LLC has reduced its holdings in Danaher Corporation (NYSE: DHR) by 20.8% during the second quarter of 2023, according to a recent filing with the Securities and Exchange Commission. The firm now owns 12,882 shares of Danaher after selling 3,378 shares within the quarter. As of the end of this reporting period, Quadrant’s stake in Danaher was valued at approximately $2.5 million.
The adjustments in Quadrant’s investment reflect a broader trend among institutional investors regarding their positions in Danaher. Notably, Vanguard Group Inc. increased its stake by 1.3% during the same period, bringing its total holdings to 60,769,587 shares, valued at approximately $12 billion. This increase followed the acquisition of an additional 788,499 shares.
Other significant institutional investors also made moves in the second quarter. Price T Rowe Associates Inc. raised its holdings by 3.2%, now owning 19,592,211 shares worth about $4 billion. Similarly, Geode Capital Management LLC increased its position by 0.6%, acquiring an additional 81,670 shares to hold a total of 13,726,194 shares, valued at around $2.7 billion.
In a notable development, Generation Investment Management LLP made a significant increase of 56.2% in its holdings, now totaling 4,965,646 shares worth approximately $980.9 million. Franklin Resources Inc. also expanded its position by 4.0%, leading to ownership of 4,822,442 shares, valued at around $952.6 million. Collectively, institutional investors own 79.05% of Danaher’s stock.
Market Performance and Dividend Announcement
As of the latest trading session, shares of Danaher opened at $228.41, reflecting a 1.0% decline. The company currently holds a market capitalization of $161.33 billion, a price-to-earnings (PE) ratio of 47.09, and a price-to-earnings-growth (PEG) ratio of 3.28. Additionally, Danaher has a debt-to-equity ratio of 0.33, a quick ratio of 1.10, and a current ratio of 1.52. Over the past year, the stock has fluctuated between a low of $171.00 and a high of $258.23.
Recently, Danaher declared a quarterly dividend of $0.32, which was paid on October 31, 2023. Shareholders of record as of September 26, 2023 received this payment, resulting in an annualized dividend of $1.28 and a yield of 0.6%. The company’s dividend payout ratio stands at 26.39%.
Analyst Ratings and Insider Activity
In recent analyst evaluations, Barclays raised its price target for Danaher from $225.00 to $250.00, assigning an “overweight” rating. Conversely, Rothschild Redb downgraded Danaher from a “strong-buy” to a “hold” rating. Additionally, Weiss Ratings maintained a “hold (c-)” rating, while Redburn Partners set a target at $220.00. Currently, eighteen analysts rate Danaher as a Buy, and five analysts have issued a Hold rating. According to MarketBeat, the consensus rating for Danaher is “Moderate Buy,” with an average target price of $243.39.
In terms of insider activity, Brian W. Ellis, Senior Vice President, sold 21,776 shares on November 12, 2023, at an average price of $219.23, totaling approximately $4.77 million. Post-transaction, Ellis holds 14,553 shares, valued at about $3.19 million, representing a 59.94% reduction in ownership. Similarly, Georgeann Couchara, another Senior Vice President, sold 5,174 shares on November 10, 2023, for around $1.09 million, reducing her ownership by 66.34%. In the last 90 days, total insider sales have reached 30,248 shares, valued at $6.61 million, with insiders retaining 11.10% of the company’s stock.
Danaher Corporation operates globally, designing, manufacturing, and marketing a wide array of professional, medical, industrial, and commercial products and services. Its biotechnology segment specializes in advancing therapeutic development and manufacturing through various technologies and consumables.
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