1ST Source Bank Acquires Shares of 6,792 Danaher Corporation $DHR

Key Points

• 1ST Source Bank acquired 6,792 Danaher shares during the second quarter, valued at approximately $4.9 million. Institutional investors and hedge funds collectively own 79.05% of DHR’s outstanding stock.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $228.91, despite several recent target-price reductions and one downgrade to “Hold.”
• Danaher’s latest quarterly results exceeded expectations: adjusted EPS was $1.94 versus the $1.85 consensus, while revenue reached $6.26 billion and increased 5.5% year over year.

1ST Source Bank bought a new position in shares of Danaher Corporation (NYSE:DHR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,792 shares of the conglomerate's stock, valued at approximately $4,891,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Main Street Group LTD bought a new stake in shares of Danaher in the first quarter valued at approximately $25,000. JPL Wealth Management LLC bought a new position in Danaher during the 3rd quarter worth $25,000. Elevated Capital Advisors LLC acquired a new position in Danaher in the 4th quarter valued at $26,000. WFA of San Diego LLC acquired a new position in Danaher in the 2nd quarter valued at $26,000. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of Danaher during the 4th quarter valued at $27,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DHR has been the topic of several analyst reports. DZ Bank initiated coverage on Danaher in a report on Wednesday, June 3rd. They set a "buy" rating and a $210.00 target price on the stock. HSBC cut their price objective on shares of Danaher from $270.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, June 3rd. Wall Street Zen downgraded shares of Danaher from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. Piper Sandler assumed coverage on shares of Danaher in a report on Thursday, June 11th. They issued a "neutral" rating and a $200.00 target price on the stock. Finally, UBS Group dropped their target price on shares of Danaher from $270.00 to $250.00 and set a "buy" rating for the company in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $228.91.

Danaher Price Performance

Shares of DHR stock opened at $202.51 on Monday. The business has a fifty day simple moving average of $193.14 and a 200 day simple moving average of $192.91. The company has a market cap of $142.37 billion, a P/E ratio of 35.97, a P/E/G ratio of 2.52 and a beta of 0.78. 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 twelve month low of $160.93 and a twelve month high of $242.80.

Danaher (NYSE:DHR - Get Free Report) last released its earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.85 by $0.09. The firm had revenue of $6.26 billion for the quarter, compared to analysts' expectations 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 previous year, the business posted $0.77 earnings per share. On average, sell-side analysts forecast that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Danaher 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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