Cornerstone Advisors LLC Purchases New Holdings in Danaher Corporation $DHR

Key Points

• Cornerstone Advisors acquired 8,605 Danaher shares in the second quarter, valued at approximately $6.2 million. Institutional investors collectively own 79.05% of Danaher’s outstanding stock.
• Danaher exceeded quarterly expectations, reporting $1.94 EPS versus the $1.85 consensus and $6.26 billion in revenue, up 5.5% year over year.
• Analysts maintain a generally positive outlook, with Danaher carrying a “Moderate Buy” consensus rating and an average price target of $228.91, compared with a recent share price of $199.62.

Cornerstone Advisors LLC acquired a new position in Danaher Corporation (NYSE:DHR - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,605 shares of the conglomerate's stock, valued at approximately $6,196,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of 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 purchasing an additional 186,584 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of 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 purchasing an additional 43,169 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew 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 in the last quarter. Advisors Capital Management LLC grew 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 in the last quarter. Finally, Handelsbanken Fonder AB increased its stake in Danaher by 10.9% in the 2nd 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 during the period. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Danaher Stock Down 1.5%

DHR stock opened at $199.62 on Wednesday. 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 Corporation has a 1 year low of $160.93 and a 1 year high of $242.80. The company has a fifty day simple moving average of $193.74 and a 200 day simple moving average of $192.50. The firm has a market cap of $140.33 billion, a PE ratio of 35.46, a PEG ratio of 2.52 and a beta of 0.78.

Danaher (NYSE:DHR - Get Free Report) last issued its quarterly earnings data on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.85 by $0.09. The firm had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.12 billion. Danaher had a net margin of 15.95% and a return on equity of 11.04%. Danaher's revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share. Sell-side analysts anticipate that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DHR. Weiss Ratings upgraded shares of Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $240.00 price target on shares of Danaher in a report on Wednesday, July 22nd. Morgan Stanley cut their price objective on Danaher from $270.00 to $255.00 and set an "overweight" rating for the company in a report on Wednesday, April 22nd. JPMorgan Chase & Co. reduced their price objective on Danaher from $275.00 to $245.00 and set an "overweight" rating for the company in a research report on Wednesday, April 22nd. Finally, Citigroup started coverage on Danaher in a research note on Tuesday, May 26th. They issued a "buy" rating and a $230.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Danaher currently has an average rating of "Moderate Buy" and a consensus price target of $228.91.

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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