Element Capital Management LLC Acquires Shares of 25,700 Danaher Corporation $DHR

Key Points

• Element Capital Management acquired 25,700 Danaher shares during the second quarter, valued at approximately $4.895 million. Institutional investors collectively own 79.05% of the company.
• Analysts maintain a generally positive outlook, with Danaher receiving a consensus “Moderate Buy” rating and an average price target of $228.91, despite some recent target reductions.
• Danaher exceeded quarterly expectations, reporting $1.94 in earnings per share versus the $1.85 consensus and $6.26 billion in revenue, up 5.5% year over year.

Element Capital Management LLC bought a new stake in shares of Danaher Corporation (NYSE:DHR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 25,700 shares of the conglomerate's stock, valued at approximately $4,895,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Main Street Group LTD purchased a new position in Danaher during the 1st quarter valued at about $25,000. N.E.W. Advisory Services LLC purchased a new stake in Danaher in the second quarter worth about $25,000. JPL Wealth Management LLC bought a new position in shares of Danaher during the third quarter valued at approximately $25,000. WFA of San Diego LLC bought a new position in shares of Danaher during the second quarter valued at approximately $26,000. Finally, Hilton Head Capital Partners LLC purchased a new position in shares of Danaher during the fourth quarter valued at approximately $27,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Evercore reissued an "outperform" rating and issued a $230.00 price target on shares of Danaher in a research report on Monday, July 6th. TD Cowen lowered their price objective on Danaher from $240.00 to $236.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. Guggenheim dropped their target price on Danaher from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, July 22nd. Weiss Ratings raised Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, July 15th. Finally, Piper Sandler assumed coverage on Danaher in a report on Thursday, June 11th. They set a "neutral" rating and a $200.00 price target 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $228.91.

Danaher Trading Up 0.3%

NYSE:DHR opened at $215.78 on Wednesday. The stock has a market cap of $151.69 billion, a price-to-earnings ratio of 38.33, a PEG ratio of 2.68 and a beta of 0.78. 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 company's 50 day moving average price is $197.17 and its 200-day moving average price is $192.36. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80.

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

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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