Bank of New York Mellon Corp Purchases New Position in Danaher Corporation $DHR

Key Points

• Bank of New York Mellon acquired 3.74 million Danaher shares worth approximately $712.9 million, representing a 0.53% stake. Institutional investors collectively own 79.05% of the company.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $228.91, despite several recent target reductions.
• Danaher reported quarterly adjusted EPS of $1.94, beating estimates of $1.85, while revenue reached $6.26 billion and increased 5.5% year over year. Shares opened at $216.14, up 2.2%.

Bank of New York Mellon Corp acquired a new stake in shares of Danaher Corporation (NYSE:DHR - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,742,518 shares of the conglomerate's stock, valued at approximately $712,875,000. Bank of New York Mellon Corp owned 0.53% of Danaher as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Danaher by 1.7% in the 4th quarter. State Street Corp now owns 27,681,334 shares of the conglomerate's stock valued at $6,345,529,000 after buying an additional 472,608 shares during the period. Capital International Investors raised its stake in Danaher by 8.9% during the 4th quarter. Capital International Investors now owns 18,246,008 shares of the conglomerate's stock worth $4,177,386,000 after buying an additional 1,487,768 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Danaher by 9.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,973,240 shares of the conglomerate's stock worth $3,656,595,000 after buying an additional 1,334,221 shares during the period. Wellington Management Group LLP lifted its holdings in Danaher by 11.2% during the fourth quarter. Wellington Management Group LLP now owns 15,076,796 shares of the conglomerate's stock worth $3,451,380,000 after acquiring an additional 1,517,904 shares in the last quarter. Finally, Norges Bank bought a new position in Danaher during the fourth quarter worth about $2,177,106,000. Institutional investors own 79.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DHR shares. Argus lowered their price target on Danaher from $265.00 to $230.00 and set a "buy" rating for the company in a report on Friday, April 24th. Stifel Nicolaus reduced their price objective on shares of Danaher from $260.00 to $220.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. TD Cowen lowered their price objective 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. Royal Bank Of Canada increased their price target on Danaher from $200.00 to $215.00 and gave the company an "outperform" rating in a research note on Wednesday, July 22nd. Finally, HSBC dropped their price target on Danaher from $270.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $228.91.

Danaher Stock Up 2.2%

DHR stock opened at $216.14 on Friday. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80. The business has a 50-day simple moving average of $195.01 and a 200 day simple moving average of $192.43. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48. The company has a market cap of $151.94 billion, a PE ratio of 38.39, a price-to-earnings-growth ratio of 2.63 and a beta of 0.78.

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

Danaher Company 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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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