Geode Capital Management LLC Has $3.61 Billion Stake in Danaher Co. (NYSE:DHR)

Geode Capital Management LLC reduced its holdings in shares of Danaher Co. (NYSE:DHR) by 1.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,042,760 shares of the conglomerate’s stock after selling 141,926 shares during the quarter. Geode Capital Management LLC owned approximately 1.81% of Danaher worth $3,611,430,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. nVerses Capital LLC acquired a new stake in shares of Danaher during the 2nd quarter worth about $25,000. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Danaher during the second quarter worth approximately $25,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Danaher in the third quarter valued at approximately $39,000. MidAtlantic Capital Management Inc. bought a new position in shares of Danaher during the third quarter worth approximately $40,000. Finally, FSA Wealth Management LLC acquired a new stake in Danaher during the 3rd quarter worth approximately $50,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on DHR. Stephens reiterated an “overweight” rating and set a $315.00 price objective on shares of Danaher in a research report on Wednesday, October 23rd. UBS Group cut their price objective on shares of Danaher from $309.00 to $305.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Evercore ISI raised their target price on shares of Danaher from $275.00 to $278.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Raymond James lowered their price objective on Danaher from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, TD Cowen upped their target price on Danaher from $310.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $287.16.

Danaher Stock Performance

NYSE:DHR opened at $235.91 on Tuesday. The stock’s 50-day moving average is $249.91 and its 200-day moving average is $258.14. The stock has a market cap of $170.39 billion, a P/E ratio of 45.02, a price-to-earnings-growth ratio of 4.23 and a beta of 0.83. Danaher Co. has a 1-year low of $217.96 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.

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

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.