Empowered Funds LLC Makes New Investment in Danaher Corporation $DHR

Key Points

• Empowered Funds LLC acquired 41,446 Danaher shares in the second quarter, valued at approximately $7.9 million. Institutional investors collectively own 79.05% of the company.
• Danaher reported quarterly earnings of $1.94 per share, exceeding the $1.85 analyst consensus, while revenue rose 5.5% year over year to $6.26 billion.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $228.91, compared with the stock’s recent price of $216.41.

Empowered Funds LLC acquired a new stake in Danaher Corporation (NYSE:DHR - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 41,446 shares of the conglomerate's stock, valued at approximately $7,895,000.

Other hedge funds also recently modified their holdings of the company. Main Street Group LTD acquired a new stake in Danaher during the first quarter worth about $25,000. N.E.W. Advisory Services LLC acquired a new position in shares of Danaher in the 2nd quarter valued at approximately $25,000. JPL Wealth Management LLC bought a new stake in shares of Danaher during the 3rd quarter worth approximately $25,000. WFA of San Diego LLC bought a new stake in shares of Danaher during the 2nd quarter worth approximately $26,000. Finally, Hilton Head Capital Partners LLC acquired a new stake in shares of Danaher during the 4th quarter worth approximately $27,000. Institutional investors own 79.05% of the company's stock.

Danaher Price Performance

Shares of NYSE:DHR opened at $216.41 on Monday. Danaher Corporation has a one year low of $160.93 and a one year high of $242.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25. The company 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. The firm has a 50 day simple moving average of $199.46 and a 200 day simple moving average of $192.35.

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

Wall Street Analysts Forecast Growth

DHR has been the subject of several research analyst reports. Stifel Nicolaus lowered their price objective on shares of Danaher from $260.00 to $220.00 and set a "buy" rating for the company in a research report on Wednesday, July 22nd. Wells Fargo & Company decreased their price target on Danaher from $212.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 22nd. Wolfe Research cut Danaher from an "outperform" rating to a "peer perform" rating in a report on Monday, June 1st. Piper Sandler initiated coverage on Danaher in a report on Thursday, June 11th. They set a "neutral" rating and a $200.00 price target for the company. Finally, HSBC dropped their price objective on Danaher from $270.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Danaher currently has a consensus rating of "Moderate Buy" and a consensus price target of $228.91.

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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