Sumitomo Life Insurance Co. bought a new position in shares of Danaher Corporation (NYSE:DHR – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,404 shares of the conglomerate’s stock, valued at approximately $4,611,000.
Several other institutional investors and hedge funds also recently bought and sold shares of DHR. Main Street Group LTD acquired a new stake in shares of Danaher during the 1st quarter worth approximately $25,000. N.E.W. Advisory Services LLC acquired a new position in Danaher in the second quarter valued at approximately $25,000. JPL Wealth Management LLC purchased a new position in Danaher in the third quarter worth approximately $25,000. WFA of San Diego LLC acquired a new stake in Danaher during the second quarter worth $26,000. Finally, Hilton Head Capital Partners LLC acquired a new stake in Danaher during the fourth quarter worth $27,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on DHR shares. Wall Street Zen lowered Danaher from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Evercore reissued an “outperform” rating and set a $230.00 price objective on shares of Danaher in a research report on Monday, July 6th. Weiss Ratings upgraded shares of Danaher from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 15th. Wells Fargo & Company decreased their target price on shares of Danaher from $212.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 22nd. Finally, HSBC lowered their target price on shares of Danaher from $270.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Danaher presently has a consensus rating of “Moderate Buy” and a consensus target price of $228.91.
Danaher Stock Up 1.6%
NYSE:DHR opened at $219.42 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48. The stock’s fifty day moving average is $195.80 and its two-hundred day moving average is $192.61. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80. The stock has a market capitalization of $154.25 billion, a price-to-earnings ratio of 38.97, a price-to-earnings-growth ratio of 2.69 and a beta of 0.78.
Danaher (NYSE:DHR – Get Free Report) last released its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, topping the consensus estimate of $1.85 by $0.09. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same period last year, the business posted $0.77 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Research analysts anticipate that Danaher Corporation will post 8.53 EPS for the current year.
About Danaher
Danaher Corporation (NYSE: DHR) is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.
Products and services in Danaher’s portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.
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