6,590 Shares in Danaher Corporation $DHR Bought by Sumitomo Life Insurance Co.

Key Points

• Sumitomo Life Insurance purchased 6,590 Danaher shares worth approximately $1.26 million in the second quarter. Institutional investors collectively own 79.05% of Danaher’s outstanding stock.
• Analyst sentiment remains positive, with Danaher holding a consensus “Moderate Buy” rating and an average price target of $228.91. Recent target changes included TD Cowen lowering its target to $236 and RBC raising its target to $215.
• Danaher’s latest quarterly results exceeded expectations, with adjusted earnings of $1.94 per share versus the $1.85 estimate and revenue of $6.26 billion, up 5.5% year over year.

Sumitomo Life Insurance Co. bought a new stake in shares of Danaher Corporation (NYSE:DHR - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,590 shares of the conglomerate's stock, valued at approximately $1,255,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. High Note Wealth LLC boosted its holdings in shares of Danaher by 19.2% during the 4th quarter. High Note Wealth LLC now owns 292 shares of the conglomerate's stock valued at $67,000 after purchasing an additional 47 shares during the last quarter. First Command Advisory Services Inc. grew its position in shares of Danaher by 4.4% during the fourth quarter. First Command Advisory Services Inc. now owns 1,104 shares of the conglomerate's stock valued at $253,000 after purchasing an additional 47 shares in the last quarter. GW&K Investment Management LLC increased its holdings in shares of Danaher by 8.4% in the fourth quarter. GW&K Investment Management LLC now owns 605 shares of the conglomerate's stock worth $138,000 after purchasing an additional 47 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in shares of Danaher by 0.3% in the third quarter. Kestra Private Wealth Services LLC now owns 15,421 shares of the conglomerate's stock worth $3,057,000 after purchasing an additional 48 shares during the last quarter. Finally, SOL Capital Management CO lifted its position in shares of Danaher by 2.7% in the fourth quarter. SOL Capital Management CO now owns 1,879 shares of the conglomerate's stock worth $430,000 after buying an additional 50 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on DHR. TD Cowen dropped their price target on Danaher from $240.00 to $236.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. Piper Sandler assumed coverage on Danaher in a research note on Thursday, June 11th. They issued a "neutral" rating and a $200.00 price objective on the stock. Wall Street Zen cut Danaher from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. Citigroup began coverage on Danaher in a research report on Tuesday, May 26th. They set a "buy" rating and a $230.00 target price for the company. Finally, Royal Bank Of Canada raised their target price on shares of Danaher from $200.00 to $215.00 and gave the company an "outperform" rating in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $228.91.

Danaher Stock Up 1.6%

Shares of NYSE:DHR opened at $219.42 on Friday. The company has a market cap of $154.25 billion, a price-to-earnings ratio of 38.97, a PEG ratio of 2.69 and a beta of 0.78. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $195.80 and a 200 day moving average price of $192.61.

Danaher (NYSE:DHR - Get Free Report) last issued its quarterly earnings data on Monday, July 20th. The conglomerate reported $1.94 earnings per share 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 company had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.12 billion. During the same period in the previous year, the firm posted $0.77 earnings per share. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities research analysts predict that Danaher Corporation will post 8.53 earnings per share for the current 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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