Kennedy Capital Management Reduces Danaher Stake by 13.2% in Q2

Kennedy Capital Management LLC has reduced its stake in Danaher Corporation (NYSE: DHR) by 13.2% during the second quarter of 2023. As reported by Holdings Channel, the institutional investor now holds 41,336 shares of the conglomerate’s stock after selling 6,292 shares during this period. The current value of Kennedy Capital Management’s holdings in Danaher is approximately $8,166,000, according to its most recent filing with the U.S. Securities and Exchange Commission (SEC).

Other institutional investors have also adjusted their positions in Danaher recently. Red Tortoise LLC increased its stake by 175.0%, acquiring an additional 98 shares to reach a total of 154 shares, valued at $30,000. Additionally, Ramirez Asset Management Inc. initiated a new position worth $40,000, while Costello Asset Management INC entered the stock with a new stake of $41,000. Twin Peaks Wealth Advisors LLC also purchased shares valued at $51,000 in the second quarter. Notably, Strengthening Families & Communities LLC increased its holdings by 81.4% in the first quarter, now owning 254 shares worth $52,000. Overall, institutional investors and hedge funds currently control 79.05% of Danaher’s stock.

In recent insider trading activity, Teri List, a director at Danaher, sold 3,298 shares on November 18, 2023, at an average price of $226.50, amounting to approximately $746,997. Following this sale, List’s ownership decreased to 20,762 shares, valued at about $4,702,593, reflecting a 13.71% reduction in her stake. Furthermore, Georgeann Couchara, Senior Vice President, sold 5,174 shares on November 10, 2023, for approximately $1,088,713.08, which represents a 66.34% decrease in her holdings. Collectively, insiders have sold 30,248 shares worth nearly $6,609,663 over the past quarter, with insiders owning 11.10% of the company’s stock.

Danaher Corporation recently reported its quarterly earnings on October 20, 2023. The company posted earnings per share (EPS) of $1.89, exceeding analysts’ expectations of $1.72 by $0.17. The firm’s net margin stood at 14.44%, with a return on equity of 10.92%. Revenue for the quarter reached $6.05 billion, surpassing the consensus estimate of $6 billion and marking a 4.4% increase compared to the same quarter last year.

In addition to its earnings report, Danaher declared a quarterly dividend of $0.32 per share, which was paid to shareholders on October 31, 2023. This dividend translates to an annualized amount of $1.28, yielding 0.6%. The ex-dividend date was set for September 26, 2023, and the company’s current dividend payout ratio is 26.39%.

Analysts have varied perspectives on Danaher’s future performance. Evercore ISI raised its target price from $226.00 to $245.00 and assigned an “outperform” rating, while Royal Bank of Canada set a price objective of $241.00. Conversely, Rothschild Redb downgraded its rating from “strong-buy” to “hold.” Overall, twenty analysts have given Danaher a “Buy” rating, and five have issued a “Hold” rating, resulting in an average rating of “Moderate Buy” with a consensus target price of $245.75.

Danaher Corporation specializes in designing, manufacturing, and marketing a wide range of professional, medical, industrial, and commercial products and services on a global scale. The company is engaged in various sectors, including biotechnology, where it offers advanced technologies and services to enhance the development and production of therapeutics.

For those interested in tracking institutional holdings and insider trading activities for Danaher Corporation, more information is available through HoldingsChannel.com.