California State Teachers Retirement System Purchases 183,598,005 Shares of Danaher Corporation $DHR

Key Points

• CalSTRS dramatically increased its Danaher position by purchasing 183.6 million shares in the second quarter, bringing its holdings to 184.6 million shares, or approximately 26.26% of the company.
• Analysts remain broadly positive on Danaher, with a “Moderate Buy” consensus rating and an average price target of $228.91, compared with the stock’s opening price of $207.46.
• Danaher exceeded quarterly expectations, reporting $1.94 in adjusted EPS and $6.26 billion in revenue; revenue rose 5.5% year over year.

California State Teachers Retirement System lifted its holdings in shares of Danaher Corporation (NYSE:DHR - Free Report) by 18,856.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 184,571,691 shares of the conglomerate's stock after buying an additional 183,598,005 shares during the quarter. California State Teachers Retirement System owned about 26.26% of Danaher worth $35,157,216,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of DHR. Studio Investment Management LLC boosted its position in shares of Danaher by 3.3% in the 2nd quarter. Studio Investment Management LLC now owns 1,581 shares of the conglomerate's stock worth $302,000 after purchasing an additional 51 shares during the last quarter. Washington Trust Advisors Inc. increased its holdings in Danaher by 453.3% in the second quarter. Washington Trust Advisors Inc. now owns 830 shares of the conglomerate's stock valued at $158,000 after purchasing an additional 680 shares during the last quarter. Operose Advisors LLC bought a new stake in Danaher in the second quarter valued at about $65,000. Saudi Central Bank lifted its stake in Danaher by 90.0% in the second quarter. Saudi Central Bank now owns 44,585 shares of the conglomerate's stock valued at $8,493,000 after buying an additional 21,120 shares during the period. Finally, Angeles Wealth Management LLC lifted its stake in Danaher by 29.5% in the second quarter. Angeles Wealth Management LLC now owns 7,237 shares of the conglomerate's stock valued at $1,381,000 after buying an additional 1,647 shares during the period. 79.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DHR. Piper Sandler initiated coverage on Danaher in a research note on Thursday, June 11th. They issued a "neutral" rating and a $200.00 price target for the company. HSBC reduced their price objective on shares of Danaher from $270.00 to $230.00 and set a "buy" rating on the stock in a research note on Wednesday, June 3rd. Royal Bank Of Canada boosted their price objective on shares of Danaher from $200.00 to $215.00 and gave the company an "outperform" rating in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $240.00 price objective on shares of Danaher in a research note on Wednesday, July 22nd. Finally, DZ Bank assumed coverage on Danaher in a report on Wednesday, June 3rd. They issued a "buy" rating and a $210.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $228.91.

Danaher Trading Down 0.1%

Danaher stock opened at $207.46 on Tuesday. The firm has a 50-day moving average of $202.03 and a 200-day moving average of $192.15. Danaher Corporation has a one year low of $160.93 and a one year high of $242.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25. The company has a market cap of $145.84 billion, a price-to-earnings ratio of 36.85, a P/E/G ratio of 2.59 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 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter in the previous year, the business earned $0.77 earnings per share. Danaher's quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts expect that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Danaher 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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