AssuredPartners Investment Advisors LLC Takes $3.63 Million Position in Danaher Corporation $DHR

Key Points

• AssuredPartners Investment Advisors bought 5,038 Danaher shares worth approximately $3.63 million in the second quarter. Institutional investors collectively own 79.05% of Danaher’s stock.
• Analysts maintain a generally positive outlook, with Danaher receiving a “Moderate Buy” consensus rating and an average price target of $228.91, despite several recent target reductions and rating downgrades.
• Danaher reported quarterly earnings of $1.94 per share, exceeding estimates of $1.85, while revenue rose 5.5% year over year to $6.26 billion. The stock opened at $211.92, up 6.2% in the cited trading session.

AssuredPartners Investment Advisors LLC bought a new position in shares of Danaher Corporation (NYSE:DHR - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,038 shares of the conglomerate's stock, valued at approximately $3,628,000.

A number of other hedge funds also recently bought and sold shares of DHR. Sivia Capital Partners LLC raised its stake in Danaher by 6.3% in the second quarter. Sivia Capital Partners LLC now owns 2,009 shares of the conglomerate's stock worth $397,000 after buying an additional 119 shares in the last quarter. First Trust Advisors LP raised its position in shares of Danaher by 34.5% in the 2nd quarter. First Trust Advisors LP now owns 55,418 shares of the conglomerate's stock worth $10,947,000 after acquiring an additional 14,217 shares in the last quarter. Main Street Financial Solutions LLC raised its position in shares of Danaher by 40.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,088 shares of the conglomerate's stock worth $610,000 after acquiring an additional 886 shares in the last quarter. Ieq Capital LLC lifted its stake in shares of Danaher by 64.2% in the 2nd quarter. Ieq Capital LLC now owns 75,714 shares of the conglomerate's stock valued at $14,957,000 after purchasing an additional 29,592 shares during the period. Finally, HUB Investment Partners LLC lifted its stake in shares of Danaher by 30.7% in the 2nd quarter. HUB Investment Partners LLC now owns 1,383 shares of the conglomerate's stock valued at $273,000 after purchasing an additional 325 shares during the period. Hedge funds and other institutional investors own 79.05% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on DHR shares. 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 note on Wednesday, July 22nd. Weiss Ratings upgraded shares of Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, July 15th. Wolfe Research downgraded shares of Danaher from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 1st. Morgan Stanley decreased their price target on shares of Danaher from $270.00 to $255.00 and set an "overweight" rating for the company in a research note on Wednesday, April 22nd. Finally, 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 for the company. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Danaher has an average rating of "Moderate Buy" and an average price target of $228.91.

Danaher Trading Up 6.2%

NYSE DHR opened at $211.92 on Thursday. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48. The stock's fifty day moving average price is $194.30 and its 200-day moving average price is $192.44. The stock has a market cap of $148.98 billion, a P/E ratio of 37.64, a P/E/G ratio of 2.49 and a beta of 0.78.

Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.09. The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. Danaher had a return on equity of 11.04% and a net margin of 15.95%.Danaher's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 EPS. As a group, equities analysts forecast that Danaher Corporation will post 8.53 EPS for the current fiscal year.

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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