Danaher Corporation $DHR Shares Purchased by Wellington Management Group LLP

Key Points

• Wellington Management increased its Danaher position by 10.4% in the second quarter, purchasing 1.54 million additional shares to own 16.32 million shares valued at approximately $3.11 billion.
• Institutional investors hold approximately 79.05% of Danaher’s outstanding stock, with BlackRock, State Street, Capital International Investors, T. Rowe Price, and Norges Bank among the major holders making notable position changes.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $228.91. Danaher also exceeded quarterly earnings and revenue estimates, reporting $1.94 in EPS and $6.26 billion in revenue.

Wellington Management Group LLP boosted its position in shares of Danaher Corporation (NYSE:DHR - Free Report) by 10.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,316,834 shares of the conglomerate's stock after purchasing an additional 1,542,310 shares during the period. Wellington Management Group LLP owned approximately 2.32% of Danaher worth $3,108,031,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Danaher in the second quarter valued at approximately $10,492,520,000. State Street Corp grew its position in Danaher by 1.7% in the fourth quarter. State Street Corp now owns 27,681,334 shares of the conglomerate's stock worth $6,345,529,000 after acquiring an additional 472,608 shares during the period. Capital International Investors increased its stake in Danaher by 8.9% during the fourth quarter. Capital International Investors now owns 18,246,008 shares of the conglomerate's stock worth $4,177,386,000 after acquiring an additional 1,487,768 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Danaher by 9.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,973,240 shares of the conglomerate's stock worth $3,656,595,000 after acquiring an additional 1,334,221 shares during the last quarter. Finally, Norges Bank purchased a new stake in Danaher in the fourth quarter valued at $2,177,106,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DHR. Citigroup began coverage on Danaher in a research note on Tuesday, May 26th. They issued a "buy" rating and a $230.00 price target on the stock. TD Cowen cut their price objective on Danaher from $240.00 to $236.00 and set a "buy" rating for the company in a research report on Wednesday, July 22nd. Wolfe Research lowered shares of Danaher from an "outperform" rating to a "peer perform" rating in a report on Monday, June 1st. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $240.00 target price on shares of Danaher in a research report on Wednesday, July 22nd. Finally, DZ Bank began coverage on shares of Danaher in a research note on Wednesday, June 3rd. They set a "buy" rating and a $210.00 target price for the company. One equities research 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 company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $228.91.

Danaher Stock Up 0.3%

Shares of NYSE DHR opened at $216.41 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48. The business's 50 day moving average is $199.46 and its two-hundred day moving average is $192.52. Danaher Corporation has a 52-week low of $160.93 and a 52-week high of $242.80. The firm has a market cap of $152.13 billion, a price-to-earnings ratio of 38.44, a PEG ratio of 2.69 and a beta of 0.78.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly 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. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same period last year, the business posted $0.77 earnings per share. The company's quarterly revenue was up 5.5% on a year-over-year basis. Research analysts predict that Danaher Corporation will post 8.53 EPS for the current year.

About Danaher

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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