9,628 Shares in Danaher Corporation $DHR Bought by Canandaigua National Bank & Trust Co.

Key Points

• Canandaigua National Bank & Trust bought 9,628 Danaher shares in the second quarter, worth approximately $1.83 million. Institutional investors own 79.05% of Danaher, with several major funds significantly increasing their positions.
• Danaher’s latest quarterly results exceeded expectations, with adjusted earnings of $1.94 per share and revenue of $6.26 billion. Revenue increased 5.5% year over year.
• Analysts remain broadly positive, giving Danaher a consensus “Moderate Buy” rating and an average price target of $228.91, versus a recent share price of $199.52.

Canandaigua National Bank & Trust Co. 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 disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,628 shares of the conglomerate's stock, valued at approximately $1,834,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Danaher in the fourth quarter valued at $2,177,106,000. Viking Global Investors LP raised its stake in shares of Danaher by 543.9% in the 2nd quarter. Viking Global Investors LP now owns 2,907,515 shares of the conglomerate's stock valued at $574,351,000 after buying an additional 2,455,994 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Danaher by 104.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,333,056 shares of the conglomerate's stock worth $991,923,000 after acquiring an additional 2,216,789 shares during the period. Wellington Management Group LLP boosted its position in shares of Danaher by 11.2% during the 4th 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. Finally, Capital International Investors increased its stake in Danaher by 8.9% in the fourth quarter. Capital International Investors now owns 18,246,008 shares of the conglomerate's stock valued at $4,177,386,000 after acquiring an additional 1,487,768 shares during the period. 79.05% of the stock is currently owned by institutional investors.

Danaher Stock Up 2.4%

Shares of NYSE DHR opened at $199.52 on Thursday. Danaher Corporation has a 12-month low of $160.93 and a 12-month high of $242.80. The firm's 50-day simple moving average is $189.84 and its 200 day simple moving average is $194.50. 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 company has a market cap of $140.26 billion, a price-to-earnings ratio of 35.44, a price-to-earnings-growth ratio of 2.43 and a beta of 0.78.

Danaher (NYSE:DHR - Get Free Report) last announced 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. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same period in the previous year, the firm posted $0.77 earnings per share. The company's revenue was up 5.5% on a year-over-year basis. On average, research analysts expect that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Evercore reaffirmed an "outperform" rating and set a $230.00 price objective on shares of Danaher in a report on Monday, July 6th. TD Cowen decreased their price target on Danaher from $240.00 to $236.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. Weiss Ratings upgraded Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, July 15th. Argus cut their price objective on Danaher from $265.00 to $230.00 and set a "buy" rating for the company in a report on Friday, April 24th. Finally, Citigroup started coverage on shares of Danaher in a research note on Tuesday, May 26th. They issued a "buy" rating and a $230.00 target price on the stock. One research 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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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