932,220 Shares in Danaher Corporation $DHR Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 932,220 Danaher shares worth approximately $671.2 million, giving it about a 0.13% stake. Institutional investors collectively own 79.05% of Danaher.
• Analysts maintain a broadly positive view, with one Strong Buy, 19 Buy, and five Hold ratings. Danaher has a consensus “Moderate Buy” rating and an average price target of $228.91, despite several recent target-price reductions.
• Danaher exceeded quarterly expectations, reporting $1.94 in EPS versus $1.85 expected and $6.26 billion in revenue versus $6.12 billion expected. Revenue increased 5.5% year over year, while the stock opened at $216.14.

Bank of New York Mellon Corp acquired a new stake in Danaher Corporation (NYSE:DHR - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 932,220 shares of the conglomerate's stock, valued at approximately $671,236,000. Bank of New York Mellon Corp owned approximately 0.13% of Danaher as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. High Note Wealth LLC grew its stake in shares of Danaher by 19.2% in 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 period. First Command Advisory Services Inc. boosted its stake in Danaher by 4.4% in the 4th quarter. First Command Advisory Services Inc. now owns 1,104 shares of the conglomerate's stock valued at $253,000 after buying an additional 47 shares in the last quarter. GW&K Investment Management LLC grew its position in Danaher by 8.4% in the fourth quarter. GW&K Investment Management LLC now owns 605 shares of the conglomerate's stock valued at $138,000 after acquiring an additional 47 shares during the period. Kestra Private Wealth Services LLC raised its stake in Danaher by 0.3% during the third quarter. Kestra Private Wealth Services LLC now owns 15,421 shares of the conglomerate's stock worth $3,057,000 after acquiring an additional 48 shares in the last quarter. Finally, SOL Capital Management CO raised its stake in Danaher by 2.7% during the fourth quarter. SOL Capital Management CO now owns 1,879 shares of the conglomerate's stock worth $430,000 after acquiring an additional 50 shares in the last quarter. 79.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DHR. HSBC reduced their target price on shares of Danaher from $270.00 to $230.00 and set a "buy" rating on the stock in a research note on Wednesday, June 3rd. DZ Bank started coverage on shares of Danaher in a research report on Wednesday, June 3rd. They set a "buy" rating and a $210.00 target price for the company. Weiss Ratings upgraded shares of Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, July 15th. Argus decreased their price objective on shares of Danaher from $265.00 to $230.00 and set a "buy" rating on the stock in a research note on Friday, April 24th. Finally, TD Cowen dropped their price objective on shares of Danaher from $240.00 to $236.00 and set a "buy" rating for the company 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $228.91.

Danaher Stock Performance

Danaher stock opened at $216.14 on Friday. The stock has a 50-day simple moving average of $195.01 and a 200 day simple moving average of $192.43. The stock has a market capitalization of $151.94 billion, a price-to-earnings ratio of 38.39, a P/E/G ratio of 2.63 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 12-month low of $160.93 and a 12-month high of $242.80.

Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings data on Monday, July 20th. The conglomerate reported $1.94 earnings per share for the quarter, beating 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 analysts' expectations of $6.12 billion. During the same quarter last year, the company posted $0.77 EPS. The company's quarterly revenue was up 5.5% compared to the same quarter last year. On average, research analysts anticipate that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding DHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Danaher Corporation (NYSE:DHR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source