Andra AP fonden Purchases 7,000 Shares of Danaher Corporation $DHR

Key Points

• Andra AP fonden increased its Danaher position by 9.1% in the second quarter, buying 7,000 additional shares for a total of 83,642 shares valued at approximately $15.9 million. Institutional investors and hedge funds collectively own 79.05% of Danaher.
• Analysts maintain a generally positive view, with Danaher carrying a consensus “Moderate Buy” rating and an average price target of $229.32.
• Danaher exceeded quarterly expectations with adjusted EPS of $1.94 and revenue of $6.26 billion, while revenue rose 5.5% year over year. The company also announced a quarterly dividend of $0.40 per share, representing a 0.7% yield.

Andra AP fonden grew its position in shares of Danaher Corporation (NYSE:DHR - Free Report) by 9.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,642 shares of the conglomerate's stock after acquiring an additional 7,000 shares during the quarter. Andra AP fonden's holdings in Danaher were worth $15,932,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Security National Bank of Sioux City Iowa IA grew its position in Danaher by 27.2% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 11,037 shares of the conglomerate's stock valued at $2,102,000 after acquiring an additional 2,360 shares during the last quarter. Wellington Altus USA Inc. lifted its holdings in shares of Danaher by 45.6% in the second quarter. Wellington Altus USA Inc. now owns 198 shares of the conglomerate's stock worth $38,000 after acquiring an additional 62 shares during the last quarter. Reynders McVeigh Capital Management LLC boosted its stake in shares of Danaher by 0.5% in the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 212,366 shares of the conglomerate's stock valued at $40,451,000 after purchasing an additional 1,058 shares in the last quarter. Marathon Wealth Advisors LLC boosted its stake in shares of Danaher by 1.7% in the 2nd quarter. Marathon Wealth Advisors LLC now owns 9,837 shares of the conglomerate's stock valued at $1,874,000 after purchasing an additional 167 shares in the last quarter. Finally, Bouchey Financial Group Ltd. grew its holdings in shares of Danaher by 11.3% during the 2nd quarter. Bouchey Financial Group Ltd. now owns 1,454 shares of the conglomerate's stock valued at $277,000 after purchasing an additional 148 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on DHR. Weiss Ratings raised shares of Danaher from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, September 16th. TD Cowen decreased their target price on shares of Danaher from $240.00 to $236.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. Evercore reiterated an "outperform" rating and set a $230.00 price target on shares of Danaher in a report on Monday, July 6th. Citigroup assumed coverage on Danaher in a research note on Tuesday, May 26th. They issued a "buy" rating and a $230.00 price target for the company. Finally, Guggenheim cut their price objective on Danaher from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Danaher presently has a consensus rating of "Moderate Buy" and an average target price of $229.32.

Danaher Stock Performance

NYSE:DHR opened at $221.21 on Wednesday. The company has a market capitalization of $155.51 billion, a PE ratio of 39.29, a P/E/G ratio of 2.69 and a beta of 0.78. The company has a 50 day simple moving average of $204.84 and a two-hundred day simple moving average of $192.15. 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 Corporation has a fifty-two week low of $160.93 and a fifty-two week high of $242.80.

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

Danaher Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.60 annualized dividend and a yield of 0.7%. Danaher's dividend payout ratio (DPR) is currently 28.42%.

About Danaher

Danaher Corporation NYSE: DHR is a global science and technology company that develops products, services and solutions for the life sciences, biotechnology and diagnostics markets. Its businesses support pharmaceutical and biotechnology research, biomanufacturing, clinical laboratories and healthcare providers.

The company's portfolio includes bioprocessing technologies, laboratory instruments, consumables, reagents and software. Key businesses include Cytiva, which provides biomanufacturing solutions; Beckman Coulter, which supplies laboratory diagnostics and automation systems; Leica Biosystems, which develops pathology products; and IDT, which provides genomic and nucleic acid products.

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