In a recent filing with the Securities and Exchange Commission, Pictet North America Advisors SA revealed that it has increased its stake in Danaher Co. (NYSE:DHR) by a stunning 867.3%. This means that their holdings in the company reached $1,992,000 as of their most recent filing, with a significant 6,730 shares being acquired by Pictet North America Advisors SA during the quarterly period.
The Swiss multinational private bank and financial services company’s decision to increase its share incursion with one of the United States’ leading conglomerates is perceived by many as a bold move – especially given Danaher’s recent earnings report. The results submitted on Tuesday, April 25th were impressive to say the least; beating the consensus estimate of $2.26 per share by an impressive margin of $0.10. With a reported EPS of $2.36 for Q1 2023, Danaher had a net margin of 22.40% and return on equity of 16.70%. While this certainly bodes well for their shareholders like Pictet North America Advisors SA or other financial institutions like William Blair or Citigroup who hold interests in Danaher – Who are still promoting buying into this stock with increased price targets- it should be noted that despite these strong performances, revenue for the conglomerate was down nearly 7% YoY.
As we look forward from here toward H2 2023 Equities analysts anticipate continued growth and better performance from DHR than we’ve seen in recent years , estimating that the firm will post an adjusted EPS of around $9.43 during FY23 against previous conservative estimates.
It will be interesting to observe how Pictet North America Advisor’s purchase plays out amidst these optimistic projections, while also remaining wary of wider market trends such as inflation rates and national debt anxiety; which could lead to unforeseen volatility in the stock market causing observers to question the true efficacy of prominent buy ratings for DHR at this particular moment.
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Danaher Sees Changes in Stockholder Positions and Continues Growth through Acquisitions in Life Sciences and Diagnostics Industry
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”DHR” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Danaher, a conglomerate with a market cap of $179.69 billion, has recently seen changes in its stockholder positions. According to reports from June 16, 2023, institutional investors and hedge funds own 77.26% of the company’s stock. Specifically, Freedom Wealth Alliance LLC acquired a new stake in Danaher during the fourth quarter worth approximately $27,000 while Chelsea Counsel Co., My Personal CFO LLC, Private Ocean LLC, and Bellwether Advisors LLC also increased their stakes in the company.
Shares of DHR opened at $243.51 on Friday with a fifty-day moving average of $238.31 and two-hundred-day moving average of $251.82. While the company’s 12 month low is $221.22 and its 12 month high is $303.82, analysts seem optimistic about the stock as several have given it high ratings. William Blair reissued an “outperform” rating while Wells Fargo & Company upgraded shares to an “overweight” rating with an increased target price from $275.00 to $285.00.
Danaher also declared its quarterly dividend to be paid out on Friday, July 28th with shareholders of record by Friday, June 30th to receive a dividend of $0.27 per share – representing a dividend yield of 0.44%. The firm’s dividend payout ratio is currently at 11.64%.
However, some insiders have sold their shares within the last few months including SVP Jose-Carlos Gutierrez-Ramos and EVP Joakim Weidemanis who both sold shares in May resulting in over $2 million in sales between them.
Despite insider selling and mixed analyst opinions, Danaher’s recent growth has been impressive over the past few years as it continues to diversify its portfolio through acquisitions such as General Electric’s biopharma unit for $21.4 billion in 2020. With a focus on life sciences and diagnostics, Danaher continues to make strategic moves within the industry for potential long-term growth.
