Clear Harbor Asset Management LLC Takes Position in Danaher Corporation $DHR

Key Points

• Clear Harbor Asset Management initiated a Danaher position of 66,170 shares worth approximately $12.6 million, representing about 0.8% of its portfolio. Institutional investors collectively own 79.05% of Danaher.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $228.91, although several firms recently lowered their targets.
• Danaher exceeded quarterly expectations, reporting adjusted EPS of $1.94 versus $1.85 expected and revenue of $6.26 billion. Revenue increased 5.5% year over year, while shares recently opened at $219.42.

Clear Harbor Asset Management LLC purchased a new position in shares of Danaher Corporation (NYSE:DHR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 66,170 shares of the conglomerate's stock, valued at approximately $12,604,000. Danaher accounts for about 0.8% of Clear Harbor Asset Management LLC's holdings, making the stock its 24th largest position.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its stake 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 purchasing an additional 186,584 shares in the last quarter. Puzo Michael J acquired a new position in Danaher in the second quarter worth about $8,624,000. Legal & General Group Plc increased its holdings in Danaher by 1.0% in the fourth quarter. Legal & General Group Plc now owns 4,495,287 shares of the conglomerate's stock valued at $1,029,061,000 after buying an additional 43,169 shares during the last quarter. Madison Asset Management LLC bought a new stake in Danaher in the second quarter valued at about $85,451,000. Finally, Handelsbanken Fonder AB raised its stake in Danaher by 10.9% during the second quarter. Handelsbanken Fonder AB now owns 289,223 shares of the conglomerate's stock valued at $55,091,000 after buying an additional 28,425 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Evercore reaffirmed an "outperform" rating and set a $230.00 target price on shares of Danaher in a report on Monday, July 6th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $240.00 price target on shares of Danaher in a report on Wednesday, July 22nd. Wells Fargo & Company dropped their price target on Danaher from $212.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 22nd. Stifel Nicolaus reduced their price objective on Danaher from $260.00 to $220.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. Finally, Wall Street Zen downgraded shares of Danaher from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. One research 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 stock. Based on data from MarketBeat.com, Danaher has an average rating of "Moderate Buy" and a consensus target price of $228.91.

Danaher Price Performance

Shares of NYSE:DHR opened at $219.42 on Friday. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80. The firm has a market capitalization of $154.25 billion, a P/E ratio of 38.97, a PEG ratio of 2.72 and a beta of 0.78. The firm's 50 day moving average is $195.80 and its two-hundred day moving average is $192.61. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48.

Danaher (NYSE:DHR - Get Free Report) last posted 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 analysts' expectations of $6.12 billion. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The firm's revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm earned $0.77 EPS. 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.

Want to see what other hedge funds are holding DHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Danaher Corporation (NYSE:DHR - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source