122,973 Shares in Danaher Corporation $DHR Acquired by North Star Asset Management Inc.

Key Points

• North Star Asset Management acquired 122,973 Danaher shares in the second quarter, worth approximately $23.4 million. Institutional investors and hedge funds collectively own 79.05% of Danaher’s stock.
• Danaher exceeded quarterly expectations, reporting $1.94 in EPS versus the $1.85 consensus estimate and $6.26 billion in revenue, up 5.5% year over year.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $228.91, despite some recent target-price cuts and a downgrade to “peer perform.”

North Star Asset Management Inc. bought a new position in shares of Danaher Corporation (NYSE:DHR - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 122,973 shares of the conglomerate's stock, valued at approximately $23,424,000.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Danaher in the 2nd quarter worth $10,492,520,000. Norges Bank acquired a new stake in shares of Danaher during the fourth quarter worth $2,177,106,000. Jupiter Topco LLC purchased a new stake in shares of Danaher during the second quarter valued at $1,456,317,000. Generation Investment Management LLP purchased a new stake in shares of Danaher during the second quarter valued at $1,287,949,000. Finally, Bank of America Corp DE acquired a new position in shares of Danaher in the 2nd quarter valued at $993,846,000. Institutional investors and hedge funds own 79.05% of the company's stock.

Danaher Stock Performance

Shares of DHR opened at $215.74 on Friday. The firm has a market cap of $151.67 billion, a price-to-earnings ratio of 38.32, a price-to-earnings-growth ratio of 2.68 and a beta of 0.78. The company's fifty day moving average is $198.69 and its 200-day moving average is $192.35. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80.

Danaher (NYSE:DHR - Get Free Report) last announced its earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.85 by $0.09. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The firm had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.12 billion. During the same quarter in the prior year, the business earned $0.77 earnings per share. The company's revenue was up 5.5% on a year-over-year basis. Equities analysts expect that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wolfe Research downgraded shares of Danaher from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 1st. Guggenheim decreased their price objective on shares of Danaher from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. TD Cowen cut their target price on shares of Danaher from $240.00 to $236.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. Citigroup initiated coverage on Danaher in a report on Tuesday, May 26th. They issued a "buy" rating and a $230.00 target price for the company. Finally, DZ Bank began coverage on Danaher in a research report on Wednesday, June 3rd. They issued a "buy" rating and a $210.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $228.91.

Danaher Company Profile

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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