Argyle Capital Partners LLC Takes $1.14 Million Position in Danaher Corporation $DHR

Key Points

• Argyle Capital Partners acquired 5,967 Danaher shares worth approximately $1.14 million in the second quarter. Institutional investors and hedge funds collectively own 79.05% of DHR.
• 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 generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $228.91, compared with the stock’s reported price of $202.44.

Argyle Capital Partners LLC acquired a new stake in Danaher Corporation (NYSE:DHR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,967 shares of the conglomerate's stock, valued at approximately $1,137,000.

Other hedge funds have also added to or reduced their stakes in the company. Main Street Group LTD acquired a new stake in Danaher in the first quarter valued at $25,000. N.E.W. Advisory Services LLC acquired a new stake in Danaher during the 2nd quarter valued at approximately $25,000. JPL Wealth Management LLC bought a new position in Danaher during the 3rd quarter worth approximately $25,000. Elevated Capital Advisors LLC bought a new stake in shares of Danaher in the 4th quarter valued at $26,000. Finally, WFA of San Diego LLC bought a new stake in shares of Danaher in the 2nd quarter valued at $26,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Danaher Trading Down 0.0%

Shares of Danaher stock opened at $202.44 on Tuesday. 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 52 week low of $160.93 and a 52 week high of $242.80. The stock has a 50 day moving average price of $193.52 and a two-hundred day moving average price of $192.67. The stock has a market capitalization of $142.31 billion, a PE ratio of 35.96, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78.

Danaher (NYSE:DHR - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $6.12 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. Danaher's revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities analysts anticipate that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on DHR shares. 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 price target on the stock. TD Cowen decreased their target price on Danaher from $240.00 to $236.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. Piper Sandler began coverage on Danaher in a report on Thursday, June 11th. They issued a "neutral" rating and a $200.00 target price for the company. Jefferies Financial Group reissued a "buy" rating and issued a $245.00 price target on shares of Danaher in a research note on Tuesday, April 21st. Finally, Evercore reiterated an "outperform" rating and issued a $230.00 price objective on shares of Danaher in a research note on Monday, July 6th. One equities 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. Based on data from MarketBeat, Danaher currently has an average rating of "Moderate Buy" and an average 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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