Alpine Woods Capital Investors LLC Makes New Investment in Danaher Corporation $DHR

Key Points

• Alpine Woods Capital Investors initiated a Danaher position by purchasing 12,322 shares worth approximately $2.35 million during the second quarter. Institutional investors collectively own 79.05% of Danaher’s outstanding shares.
• Danaher exceeded quarterly expectations, reporting $1.94 in earnings per share versus the $1.85 consensus estimate and $6.26 billion in revenue, up 5.5% year over year.
• Analysts maintain a “Moderate Buy” consensus rating, with 20 buy or strong-buy ratings and a consensus price target of $228.91, compared with the stock’s reported price of $199.62.

Alpine Woods Capital Investors LLC bought a new stake in Danaher Corporation (NYSE:DHR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,322 shares of the conglomerate's stock, valued at approximately $2,347,000.

Several other hedge funds also recently modified their holdings of the stock. Meeder Advisory Services Inc. purchased a new position in shares of Danaher in the 2nd quarter worth about $2,620,000. Meeder Asset Management Inc. purchased a new stake in shares of Danaher during the 2nd quarter worth approximately $44,000. Citizens Financial Group Inc. RI purchased a new position in shares of Danaher during the 2nd quarter valued at $4,197,000. Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Danaher during the 2nd quarter valued at $7,965,000. Finally, Cornerstone Advisors LLC bought a new position in shares of Danaher during the 2nd quarter worth $6,196,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

Danaher Price Performance

Shares of Danaher stock opened at $199.62 on Wednesday. The firm has a market capitalization of $140.33 billion, a PE ratio of 35.46, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78. The company has a current ratio of 1.65, a quick ratio of 1.25 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. The business's 50-day moving average price is $193.74 and its 200-day moving average price is $192.50.

Danaher (NYSE:DHR - Get Free Report) last released 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 return on equity of 11.04% and a net margin of 15.95%.The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter in the previous year, the company posted $0.77 EPS. Danaher's quarterly revenue was up 5.5% compared to the same quarter last year. Sell-side analysts forecast that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DHR has been the topic of a number of analyst reports. Weiss Ratings raised shares of Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, July 15th. HSBC reduced their target price on Danaher from $270.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, June 3rd. Piper Sandler began coverage on shares of Danaher in a research report on Thursday, June 11th. They issued a "neutral" rating and a $200.00 price objective for the company. Citigroup initiated coverage on shares of Danaher in a research note on Tuesday, May 26th. They set a "buy" rating and a $230.00 price objective for the company. Finally, UBS Group reduced their price target on shares of Danaher from $270.00 to $250.00 and set a "buy" rating for the company in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus 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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