Jennison Associates LLC Sells 331 Shares of Danaher Co. (NYSE:DHR)

Jennison Associates LLC lessened its stake in shares of Danaher Co. (NYSE:DHR) by 22.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,152 shares of the conglomerate’s stock after selling 331 shares during the quarter. Jennison Associates LLC’s holdings in Danaher were worth $320,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Swedbank AB purchased a new position in shares of Danaher in the 1st quarter worth about $676,545,000. TD Asset Management Inc grew its position in Danaher by 99.0% during the second quarter. TD Asset Management Inc now owns 1,358,706 shares of the conglomerate’s stock valued at $339,473,000 after acquiring an additional 675,952 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Danaher by 22.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,047,728 shares of the conglomerate’s stock worth $761,475,000 after acquiring an additional 563,546 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Danaher by 40,196.5% in the 3rd quarter. International Assets Investment Management LLC now owns 429,964 shares of the conglomerate’s stock valued at $119,539,000 after purchasing an additional 428,897 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Danaher during the 3rd quarter valued at $77,314,000. Institutional investors own 79.05% of the company’s stock.

Analysts Set New Price Targets

DHR has been the subject of several analyst reports. Stephens restated an “overweight” rating and set a $315.00 price target on shares of Danaher in a research report on Wednesday, October 23rd. Barclays dropped their price objective on Danaher from $285.00 to $275.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Wolfe Research raised shares of Danaher from a “peer perform” rating to an “outperform” rating and set a $285.00 price target for the company in a research note on Thursday, October 31st. UBS Group dropped their target price on shares of Danaher from $309.00 to $305.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Robert W. Baird cut their price objective on shares of Danaher from $278.00 to $277.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.16.

Danaher Price Performance

Shares of DHR opened at $235.84 on Monday. The firm has a market cap of $170.34 billion, a PE ratio of 45.01, a P/E/G ratio of 4.32 and a beta of 0.85. Danaher Co. has a 1-year low of $215.68 and a 1-year high of $281.70. The company has a current ratio of 1.37, a quick ratio of 1.01 and a debt-to-equity ratio of 0.32. The firm has a fifty day simple moving average of $258.15 and a two-hundred day simple moving average of $260.03.

Danaher (NYSE:DHR) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.14. Danaher had a return on equity of 10.62% and a net margin of 16.39%. The company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.59 billion. During the same quarter in the prior year, the company earned $2.02 earnings per share. Danaher’s revenue was up 3.1% on a year-over-year basis. On average, equities analysts anticipate that Danaher Co. will post 7.5 EPS for the current year.

Danaher Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, September 27th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, September 27th. This represents a $1.08 dividend on an annualized basis and a yield of 0.46%. Danaher’s dividend payout ratio is currently 20.61%.

Danaher Company Profile

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.