62,654 Shares in Danaher Corporation $DHR Purchased by Portland Investment Counsel Inc.

Key Points

• Portland Investment Counsel purchased 62,654 Danaher shares worth approximately $11.9 million, making DHR its ninth-largest holding and representing 3.3% of its portfolio. Institutional investors collectively own 79.05% of the stock.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $228.91. Ratings range from “Hold” to “Strong Buy,” despite some recent downgrades and target-price cuts.
• Danaher reported stronger-than-expected quarterly results, with EPS of $1.94 versus the $1.85 consensus and revenue of $6.26 billion, up 5.5% year over year. Shares opened at $219.42, near the analyst consensus target.

Portland Investment Counsel Inc. bought a new stake in shares of Danaher Corporation (NYSE:DHR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 62,654 shares of the conglomerate's stock, valued at approximately $11,934,000. Danaher accounts for approximately 3.3% of Portland Investment Counsel Inc.'s investment portfolio, making the stock its 9th biggest position.

A number of other large investors also recently added to or reduced their stakes in DHR. BlackRock Inc. purchased a new stake in Danaher during the 2nd quarter valued at approximately $10,492,520,000. State Street Corp lifted its holdings in shares of Danaher by 1.7% in the fourth quarter. State Street Corp now owns 27,681,334 shares of the conglomerate's stock worth $6,345,529,000 after buying an additional 472,608 shares in the last quarter. Capital International Investors boosted its position in shares of Danaher by 8.9% during the fourth quarter. Capital International Investors now owns 18,246,008 shares of the conglomerate's stock worth $4,177,386,000 after acquiring an additional 1,487,768 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Danaher by 9.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,973,240 shares of the conglomerate's stock worth $3,656,595,000 after acquiring an additional 1,334,221 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in Danaher by 11.2% during the fourth quarter. Wellington Management Group LLP now owns 15,076,796 shares of the conglomerate's stock valued at $3,451,380,000 after acquiring an additional 1,517,904 shares in the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on DHR shares. Wolfe Research downgraded shares of Danaher from an "outperform" rating to a "peer perform" rating in a report on Monday, June 1st. Piper Sandler began coverage on shares of Danaher in a report on Thursday, June 11th. They set a "neutral" rating and a $200.00 price objective for the company. TD Cowen cut their price objective on Danaher from $240.00 to $236.00 and set a "buy" rating for the company in a research report on Wednesday, July 22nd. Weiss Ratings raised Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, July 15th. Finally, Evercore reiterated an "outperform" rating and issued a $230.00 target price on shares of Danaher in a research report on Monday, July 6th. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $228.91.

Danaher Trading Up 0.3%

DHR stock opened at $219.42 on Monday. Danaher Corporation has a twelve month low of $160.93 and a twelve month 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 2.72 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. The firm's fifty day simple moving average is $195.80 and its two-hundred day simple moving average is $192.40.

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, topping the consensus estimate of $1.85 by $0.09. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same quarter last year, the business earned $0.77 EPS. The business's revenue was up 5.5% on a year-over-year basis. As a group, analysts anticipate that Danaher Corporation will post 8.53 earnings per share for the current year.

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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