Wellington Management Co. LLP recently announced the acquisition of new stake in Danaher Corp. (NYSE:DHR). The institutional investor has increased its shareholding in the Healthcare company by 18.58% to 24.93 million shares with purchase of 3.91 million shares. This fresh investment now brings its stake to 3.37% valued currently at $5.57 billion. In addition, Capital Research & Management Co raised its holdings by 0.59 million to 14.62 million shares. And T. Rowe Price Associates, Inc. has lifted its position by 7.86% or 1.03 million shares – to 14.1 million shares.
With over 5.26 million Danaher Corp. (DHR) shares trading Tuesday and a closing price of $230.87 on the day, the dollar volume was approximately $1.21 billion. The shares have shown a positive half year performance of 9.59% and its price on 01/09/24 lost nearly -1.70%. Currently, there are 728.30M common shares owned by the public and among those 673.84M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 27 analysts who have offered their price forecasts for DHR have a consensus price objective of $241.86. The analysts have set the share’s price value over the next 12 months at a high of $270.00 and a low of $205.00. The average price target is 4.54% above its recent price level and a downside to the estimated low will see the stock lose -12.62% over that period. But an upside of 14.49% will see the stock hit the forecast high price target while median target price for the stock is $250.00.
Insiders at the company have transacted a total of 71 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 36 of these insider trades were purchases, accounting for 245,523 shares. Insider sales of the common stock occurred on 35 occasions, with total insider shares sold totaling 121,781 shares.
The top 3 mutual fund holders in Danaher Corp. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Fidelity 500 Index Fund. Vanguard Total Stock Market ETF owns 20.83 million shares of the company’s stock, all valued at over $4.65 billion. The company bought an additional 25069.0 shares recently to bring their total holdings to about 2.82% of the shares outstanding. Vanguard 500 Index Fund bought 73765.0 shares to see its total holdings expand to 15.87 million shares valued at over $3.54 billion and representing 2.15% of the shares outstanding. Fidelity 500 Index Fund bought 48729.0 shares to bring its total holdings to over 7.66 million shares at a value of $1.71 billion. Fidelity 500 Index Fund now owns shares totaling to 1.04% of the shares outstanding.
Shares of Danaher Corp. (NYSE: DHR) opened at $234.22, down -$0.64 from a prior closing price of $234.86. However, the script later moved the day high at 241.55, down -1.70%. The company’s stock has a 5-day price change of -1.67% and 5.72% over the past three months. DHR shares are trading -0.20% year to date (YTD), with the 12-month market performance up to 3.16% higher. It has a 12-month low price of $182.09 and touched a high of $247.59 over the same period. DHR has an average intraday trading volume of 3.06 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.88%, 7.03%, and 6.67% respectively.
Institutional ownership of Danaher Corp. (NYSE: DHR) shares accounts for 80.23% of the company’s 728.30M shares outstanding. Mutual fund holders own 34.45%, while other institutional holders and individual stakeholders account for 46.70% and 16.25% respectively.
It has a market capitalization of $170.60B and a beta (3y monthly) value of 0.85. The stock’s trailing 12-month PE ratio is 29.22, while the earnings-per-share (ttm) stands at $7.90. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.05% over the week and 2.13% over the month.
Analysts forecast that Danaher Corp. (DHR) will achieve an EPS of $1.86 for the current quarter, $1.8 for the next quarter and $7.79 for 2024. The lowest estimate earnings-per-share for the quarter is $1.8 while analysts give the company a high EPS estimate of $1.94. Comparatively, EPS for the current quarter was $2.87 a year ago. Earnings per share for the fiscal year are expected to decrease by -23.75%, and 4.86% over the next financial year. EPS should shrink at an annualized rate of -1.40% over the next five years, compared to 22.31% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 27 brokerage firm advisors rate Danaher Corp. (DHR) as a “Strong Buy” at a consensus score of 1.85. Specifically, 15 Wall Street analysts polled rate the stock as a buy, while 8 of the 27 advise that investors “hold,” and 1 rated it as a “Sell.”
