Bank of Nova Scotia Takes Position in Danaher Corporation $DHR

Key Points

• Bank of Nova Scotia acquired 165,310 Danaher shares during the second quarter, valued at approximately $31.5 million. Other institutions also initiated positions, with institutional investors collectively owning 79.05% of the company.
• Analysts maintain a generally positive outlook, with Danaher carrying a consensus “Moderate Buy” rating and an average price target of $228.91. Recent targets range from $200 to $240.
• Danaher exceeded quarterly expectations, reporting $1.94 in adjusted EPS versus the $1.85 consensus and revenue of $6.26 billion versus $6.12 billion expected. Revenue increased 5.5% year over year.

Bank of Nova Scotia acquired a new position in Danaher Corporation (NYSE:DHR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 165,310 shares of the conglomerate's stock, valued at approximately $31,492,000.

A number of other hedge funds have also bought and sold shares of the business. Kirtland Hills Capital Management LLC bought a new position in Danaher in the second quarter valued at about $1,466,000. Compass Financial Management LLC purchased a new stake in Danaher during the second quarter valued at approximately $145,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Danaher during the 2nd quarter worth $2,127,000. Alta Advisers Ltd bought a new stake in shares of Danaher during the 2nd quarter valued at $414,000. Finally, Daiichi Life Insurance Co. Ltd. purchased a new stake in shares of Danaher in the 2nd quarter worth $5,896,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

Analysts Set New Price Targets

DHR has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $240.00 target price on shares of Danaher in a research report on Wednesday, July 22nd. TD Cowen lowered their price objective on Danaher from $240.00 to $236.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. Piper Sandler assumed coverage on Danaher in a research note on Thursday, June 11th. They set a "neutral" rating and a $200.00 price objective for the company. Wolfe Research lowered shares of Danaher from an "outperform" rating to a "peer perform" rating in a report on Monday, June 1st. Finally, Royal Bank Of Canada raised their target price on shares of Danaher from $200.00 to $215.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $228.91.

Danaher Stock Performance

NYSE DHR opened at $219.42 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48. Danaher Corporation has a twelve month low of $160.93 and a twelve month high of $242.80. The business has a 50-day moving average price of $195.80 and a 200-day moving average price of $192.40. The firm has a market cap of $154.25 billion, a price-to-earnings 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 issued its earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $6.12 billion. During the same quarter last year, the company earned $0.77 EPS. The firm's quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts predict 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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