Quadrant Capital Group LLC has reduced its stake in Danaher Corporation (NYSE: DHR) by 20.8% during the second quarter of 2023. According to a recent filing with the Securities & Exchange Commission, the firm now holds 12,882 shares after selling 3,378 shares in the quarter. As of the latest reporting period, these shares were valued at approximately $2,545,000.
A number of other institutional investors have also adjusted their positions in Danaher. Notably, Vanguard Group Inc. increased its holdings by 1.3%, now owning 60,769,587 shares worth about $12 billion after acquiring an additional 788,499 shares. Similarly, Price T Rowe Associates Inc. MD raised its stake by 3.2% in the first quarter, bringing its total to 19,592,211 shares valued at approximately $4 billion.
Other significant changes in holdings include Geode Capital Management LLC, which increased its position by 0.6%, and Generation Investment Management LLP, which boosted its stake by an impressive 56.2%. Institutional investors now collectively own 79.05% of Danaher’s stock.
Market Performance and Dividend Announcement
On the trading front, shares of Danaher opened at $228.41 on Friday. The company boasts a market capitalization of $161.33 billion, with a price-to-earnings ratio of 47.09. Danaher’s stock has shown volatility over the past year, with a low of $171.00 and a high of $258.23.
Danaher recently declared a quarterly dividend of $0.32 per share, which was paid on October 31, 2023. Shareholders of record as of September 26, 2023 received this dividend, representing an annualized payout of $1.28 and a dividend yield of 0.6%. The company’s dividend payout ratio stands at 26.39%.
Analyst Ratings and Insider Activity
Recent reports from analysts indicate a range of opinions on Danaher’s stock. Barclays raised its price target from $225.00 to $250.00 and assigned an “overweight” rating. In contrast, Rothschild Redb downgraded its rating from “strong-buy” to “hold.” Overall, eighteen analysts have rated the stock as a Buy, while five have given it a Hold rating, resulting in a consensus rating of “Moderate Buy” with an average target price of $243.39.
Insider trading activity has also been notable. Brian W. Ellis, Senior Vice President, sold 21,776 shares on November 12, 2023 for approximately $4.77 million. Following this transaction, he retains 14,553 shares valued at around $3.19 million, marking a 59.94% decrease in his ownership of the stock. Additionally, Georgeann Couchara, another Senior Vice President, sold 5,174 shares for about $1.09 million, reducing her stake by 66.34%.
In the past 90 days, insiders have sold a total of 30,248 shares worth approximately $6.61 million. Insiders currently hold 11.10% of the company’s stock.
Danaher Corporation is a global leader in designing and manufacturing a wide range of professional, medical, industrial, and commercial products and services. Its biotechnology segment plays a crucial role in developing and manufacturing therapeutics, providing essential technologies and services that enhance healthcare delivery worldwide.
For ongoing updates on Danaher and its stock performance, stakeholders can visit dedicated financial news platforms and stay informed about the latest developments in the market.
