Bank of Nova Scotia Makes New $24.18 Million Investment in Danaher Corporation $DHR

Key Points

• Bank of Nova Scotia acquired 33,579 Danaher shares during the second quarter, establishing a new position worth approximately $24.18 million.
• Institutional ownership remains high at 79.05%, with several other funds—including Madison Asset Management and EP Wealth Advisors—also initiating or increasing Danaher positions.
• Analysts maintain a generally positive outlook, with Danaher receiving a consensus “Moderate Buy” rating and an average price target of $228.91. The company also exceeded quarterly estimates, reporting $1.94 in EPS and $6.26 billion in revenue.

Bank of Nova Scotia acquired a new stake in shares of Danaher Corporation (NYSE:DHR - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 33,579 shares of the conglomerate's stock, valued at approximately $24,178,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. EP Wealth Advisors LLC purchased a new position in shares of Danaher in the 2nd quarter worth about $3,807,000. Northwestern Mutual Wealth Management Co. raised its holdings in Danaher by 303.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 248,020 shares of the conglomerate's stock worth $56,777,000 after buying an additional 186,584 shares during the last quarter. Puzo Michael J purchased a new stake in shares of Danaher during the second quarter valued at approximately $8,624,000. Legal & General Group Plc raised its holdings in Danaher by 1.0% in the 4th quarter. Legal & General Group Plc now owns 4,495,287 shares of the conglomerate's stock worth $1,029,061,000 after acquiring an additional 43,169 shares during the last quarter. Finally, Madison Asset Management LLC bought a new stake in shares of Danaher in the 2nd quarter worth $85,451,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

Wall Street Analyst Weigh In

DHR has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $240.00 target price on shares of Danaher in a research note on Wednesday, July 22nd. Evercore reaffirmed an "outperform" rating and issued a $230.00 target price on shares of Danaher in a report on Monday, July 6th. Weiss Ratings upgraded Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, July 15th. TD Cowen dropped their target price on shares of Danaher from $240.00 to $236.00 and set a "buy" rating for the company in a research report on Wednesday, July 22nd. Finally, Wolfe Research cut shares of Danaher from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Danaher presently has a consensus rating of "Moderate Buy" and an average price target of $228.91.

Danaher Trading Up 0.3%

DHR stock opened at $219.42 on Monday. The firm has a fifty day moving average price of $195.80 and a 200 day moving average price of $192.40. Danaher Corporation has a fifty-two week low of $160.93 and a fifty-two week high of $242.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.65. The firm has a market cap of $154.25 billion, a PE ratio of 38.97, a price-to-earnings-growth ratio of 2.72 and a beta of 0.78.

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