Allworth Financial LP Invests $57.02 Million in Danaher Corporation $DHR

Key Points

• Allworth Financial initiated a Danaher stake worth approximately $57.0 million, acquiring 79,186 shares in the second quarter. Institutional investors own about 79.05% of Danaher’s outstanding stock.
• Danaher exceeded quarterly expectations, reporting $1.94 in adjusted EPS versus the $1.85 consensus and revenue of $6.26 billion versus $6.12 billion expected. Revenue increased 5.5% year over year.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $228.91, despite several recent target-price reductions.

Allworth Financial LP acquired a new stake in shares of Danaher Corporation (NYSE:DHR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 79,186 shares of the conglomerate's stock, valued at approximately $57,017,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DHR. Northwestern Mutual Wealth Management Co. grew its position in Danaher by 303.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 248,020 shares of the conglomerate's stock valued at $56,777,000 after acquiring an additional 186,584 shares during the last quarter. Puzo Michael J bought a new stake in shares of Danaher in the 2nd quarter worth approximately $8,624,000. Legal & General Group Plc boosted its stake in shares of Danaher by 1.0% in the 4th quarter. Legal & General Group Plc now owns 4,495,287 shares of the conglomerate's stock valued at $1,029,061,000 after purchasing an additional 43,169 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Danaher by 10.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 289,223 shares of the conglomerate's stock valued at $55,091,000 after purchasing an additional 28,425 shares in the last quarter. Finally, Advisors Capital Management LLC grew its holdings in shares of Danaher by 14.0% during the 4th quarter. Advisors Capital Management LLC now owns 54,845 shares of the conglomerate's stock valued at $12,555,000 after purchasing an additional 6,720 shares during the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Danaher Price Performance

Shares of NYSE DHR opened at $219.42 on Friday. Danaher Corporation has a fifty-two week low of $160.93 and a fifty-two week high of $242.80. The company has a 50 day simple moving average of $195.80 and a two-hundred day simple moving average of $192.61. The company has a market capitalization of $154.25 billion, a price-to-earnings ratio of 38.97, a P/E/G ratio of 2.69 and a beta of 0.78. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.65.

Danaher (NYSE:DHR - Get Free Report) last issued its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, topping 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 EPS. Analysts expect that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Stifel Nicolaus decreased their target price on shares of Danaher from $260.00 to $220.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. TD Cowen decreased their price objective on Danaher from $240.00 to $236.00 and set a "buy" rating on the stock in a report on Wednesday, July 22nd. Piper Sandler began coverage on Danaher in a research note on Thursday, June 11th. They issued a "neutral" rating and a $200.00 target price for the company. Evercore restated an "outperform" rating and set a $230.00 target price on shares of Danaher in a report on Monday, July 6th. Finally, Wells Fargo & Company reduced their price target on Danaher from $212.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $228.91.

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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