Danske Bank A S Buys New Position in Danaher Corporation $DHR

Key Points

• Danske Bank acquired 325,355 Danaher shares during the second quarter, valued at approximately $62 million. Institutional investors and hedge funds now own 79.05% of Danaher’s stock.
• Danaher exceeded quarterly expectations, reporting $1.94 in adjusted earnings per share and $6.26 billion in revenue, with revenue rising 5.5% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $228.91 versus the stock’s reported price of $199.62.

Danske Bank A S bought a new stake in Danaher Corporation (NYSE:DHR - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 325,355 shares of the conglomerate's stock, valued at approximately $61,974,000.

A number of other large investors also recently modified their holdings of DHR. Meeder Asset Management Inc. bought a new stake in shares of Danaher in the second quarter valued at approximately $44,000. MidFirst Bank bought a new position in Danaher during the second quarter worth $46,000. Bell Investment Advisors Inc acquired a new position in Danaher during the 2nd quarter valued at $47,000. State of Wyoming acquired a new position in Danaher during the 2nd quarter valued at $74,000. Finally, Elevated Capital Advisors LLC bought a new stake in Danaher in the 4th quarter valued at $26,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Danaher Stock Performance

NYSE DHR opened at $199.62 on Wednesday. The stock has a market cap of $140.33 billion, a P/E ratio of 35.46, a PEG ratio of 2.52 and a beta of 0.78. The company's 50-day simple moving average is $193.74 and its 200 day simple moving average is $192.50. Danaher Corporation has a twelve month low of $160.93 and a twelve month high of $242.80. 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 announced its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.09. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The firm had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.12 billion. During the same quarter last year, the company earned $0.77 earnings per share. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, research analysts forecast that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DHR has been the topic of several research analyst reports. UBS Group decreased their price target on shares of Danaher from $270.00 to $250.00 and set a "buy" rating on the stock in a research report on Wednesday, April 22nd. Jefferies Financial Group reiterated a "buy" rating and issued a $245.00 target price on shares of Danaher in a research note on Tuesday, April 21st. Guggenheim decreased their target price on Danaher from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. Royal Bank Of Canada boosted their price target on Danaher from $200.00 to $215.00 and gave the company an "outperform" rating in a research note on Wednesday, July 22nd. Finally, Piper Sandler began coverage on Danaher in a report on Thursday, June 11th. They issued a "neutral" rating and a $200.00 price target for the company. 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 company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $228.91.

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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