1ST Source Bank Acquires Shares of 18,328 Danaher Corporation $DHR

Key Points

• 1ST Source Bank acquired 18,328 Danaher shares worth approximately $3.49 million in the second quarter, while several other institutional investors also increased their positions. Institutional investors collectively own 79.05% of DHR.
• Danaher exceeded quarterly expectations, reporting $1.94 in EPS versus the $1.85 consensus and $6.26 billion in revenue versus $6.12 billion expected. Revenue increased 5.5% year over year.
• Analyst sentiment remains favorable, with 1 Strong Buy, 19 Buy, and 5 Hold ratings; the stock has a “Moderate Buy” consensus and an average price target of $228.91, above its reported $202.51 price.

1ST Source Bank acquired a new stake in shares of Danaher Corporation (NYSE:DHR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,328 shares of the conglomerate's stock, valued at approximately $3,491,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Sivia Capital Partners LLC raised its holdings in Danaher by 6.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,009 shares of the conglomerate's stock valued at $397,000 after buying an additional 119 shares during the last quarter. First Trust Advisors LP grew its holdings in Danaher by 34.5% in the 2nd quarter. First Trust Advisors LP now owns 55,418 shares of the conglomerate's stock worth $10,947,000 after acquiring an additional 14,217 shares during the last quarter. Main Street Financial Solutions LLC increased its position in shares of Danaher by 40.2% in the second quarter. Main Street Financial Solutions LLC now owns 3,088 shares of the conglomerate's stock valued at $610,000 after acquiring an additional 886 shares during the period. Ieq Capital LLC increased its position in shares of Danaher by 64.2% in the second quarter. Ieq Capital LLC now owns 75,714 shares of the conglomerate's stock valued at $14,957,000 after acquiring an additional 29,592 shares during the period. Finally, HUB Investment Partners LLC raised its stake in shares of Danaher by 30.7% during the second quarter. HUB Investment Partners LLC now owns 1,383 shares of the conglomerate's stock valued at $273,000 after acquiring an additional 325 shares during the last quarter. Institutional investors own 79.05% of the company's stock.

Danaher Stock Performance

Danaher stock opened at $202.51 on Monday. The stock's 50 day simple moving average is $193.14 and its two-hundred day simple moving average is $192.91. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.65. The stock has a market cap of $142.37 billion, a price-to-earnings ratio of 35.97, a PEG ratio of 2.52 and a beta of 0.78. Danaher Corporation has a fifty-two week low of $160.93 and a fifty-two week high of $242.80.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on DHR shares. Weiss Ratings raised Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, July 15th. Piper Sandler assumed coverage on Danaher in a research report on Thursday, June 11th. They set a "neutral" rating and a $200.00 price target for the company. Citigroup began coverage on Danaher in a report on Tuesday, May 26th. They issued a "buy" rating and a $230.00 price objective for the company. Guggenheim cut their price objective on Danaher from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $240.00 target price on shares of Danaher in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $228.91.

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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