Citizens Financial Group Inc. RI Takes $4.20 Million Position in Danaher Corporation $DHR

Key Points

• Citizens Financial Group acquired a new $4.20 million stake in Danaher during the second quarter, purchasing 22,036 shares. Institutional investors collectively own 79.05% of Danaher’s stock.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $228.91, despite several firms recently lowering their targets.
• Danaher exceeded quarterly expectations, reporting $1.94 in EPS versus the $1.85 consensus estimate and $6.26 billion in revenue, up 5.5% year over year.

Citizens Financial Group Inc. RI acquired a new position in Danaher Corporation (NYSE:DHR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 22,036 shares of the conglomerate's stock, valued at approximately $4,197,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Danaher by 303.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 248,020 shares of the conglomerate's stock valued at $56,777,000 after acquiring an additional 186,584 shares in the last quarter. Legal & General Group Plc raised its holdings in Danaher by 1.0% during the fourth 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Danaher by 51.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 271,734 shares of the conglomerate's stock valued at $62,205,000 after purchasing an additional 92,323 shares during the last quarter. Advisors Capital Management LLC boosted its position in Danaher by 14.0% during the fourth quarter. Advisors Capital Management LLC now owns 54,845 shares of the conglomerate's stock valued at $12,555,000 after purchasing an additional 6,720 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its stake in Danaher by 10.9% in the second quarter. Handelsbanken Fonder AB now owns 289,223 shares of the conglomerate's stock valued at $55,091,000 after purchasing an additional 28,425 shares in the last quarter. Institutional investors own 79.05% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. UBS Group dropped their price objective on Danaher from $270.00 to $250.00 and set a "buy" rating on the stock in a research note on Wednesday, April 22nd. Argus decreased their target price on shares of Danaher from $265.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, April 24th. Royal Bank Of Canada boosted their target price on shares of Danaher from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. dropped their price target on shares of Danaher from $275.00 to $245.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 22nd. Finally, HSBC cut their price target on shares of Danaher from $270.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, June 3rd. One equities research 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $228.91.

Danaher Price Performance

NYSE:DHR opened at $199.62 on Wednesday. Danaher Corporation has a 12-month low of $160.93 and a 12-month high of $242.80. The firm has a market capitalization of $140.33 billion, a price-to-earnings ratio of 35.46, a P/E/G ratio of 2.52 and a beta of 0.78. The stock's 50 day moving average price is $193.74 and its two-hundred day moving average price is $192.50. 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 (NYSE:DHR - Get Free Report) last issued its earnings results on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, topping the consensus estimate of $1.85 by $0.09. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The firm's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 EPS. On average, analysts anticipate that Danaher Corporation will post 8.53 earnings per share for the current 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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