Abacus Wealth Partners LLC Sells 1,778 Shares of Danaher Co. (NYSE:DHR)

Abacus Wealth Partners LLC lessened its holdings in Danaher Co. (NYSE:DHR) by 63.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,017 shares of the conglomerate’s stock after selling 1,778 shares during the quarter. Abacus Wealth Partners LLC’s holdings in Danaher were worth $233,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. FMR LLC increased its holdings in Danaher by 15.8% in the third quarter. FMR LLC now owns 23,617,424 shares of the conglomerate’s stock valued at $6,566,116,000 after purchasing an additional 3,217,631 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Danaher by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 5,964,031 shares of the conglomerate’s stock valued at $1,490,112,000 after acquiring an additional 139,989 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Danaher by 3.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,097,986 shares of the conglomerate’s stock valued at $1,417,342,000 after acquiring an additional 148,251 shares during the period. Fisher Asset Management LLC boosted its stake in Danaher by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 4,552,640 shares of the conglomerate’s stock worth $1,265,725,000 after acquiring an additional 116,299 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Danaher by 17.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,582,982 shares of the conglomerate’s stock valued at $996,141,000 after purchasing an additional 535,254 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Citigroup cut their target price on shares of Danaher from $305.00 to $285.00 and set a “buy” rating on the stock in a report on Monday, January 6th. TD Cowen lifted their target price on Danaher from $310.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Evercore ISI increased their price target on Danaher from $275.00 to $278.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Stephens reiterated an “overweight” rating and set a $315.00 price objective on shares of Danaher in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus increased their target price on Danaher from $250.00 to $265.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $286.80.

Danaher Price Performance

NYSE:DHR opened at $238.41 on Tuesday. Danaher Co. has a 52-week low of $222.53 and a 52-week high of $281.70. The company has a market cap of $172.20 billion, a P/E ratio of 45.50, a P/E/G ratio of 4.23 and a beta of 0.83. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.37. The stock’s 50-day simple moving average is $234.85 and its 200 day simple moving average is $253.51.

Danaher (NYSE:DHR) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.14. The firm had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.59 billion. Danaher had a return on equity of 10.62% and a net margin of 16.39%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.02 EPS. As a group, sell-side analysts forecast that Danaher Co. will post 7.49 EPS for the current fiscal year.

Danaher Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, December 27th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Friday, December 27th. Danaher’s dividend payout ratio (DPR) is currently 20.61%.

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.