Energy Income Partners LLC Purchases New Position in Danaher Corporation $DHR

Key Points

• Energy Income Partners purchased 92,723 Danaher shares in the second quarter, valued at approximately $66.8 million. Institutional investors collectively own 79.05% of the company.
• Analyst sentiment remains positive, with Danaher holding a consensus “Moderate Buy” rating and an average price target of $228.91, despite several target-price reductions.
• Danaher exceeded quarterly expectations, reporting $1.94 in earnings per share versus $1.85 expected and $6.26 billion in revenue versus $6.12 billion forecast; revenue increased 5.5% year over year.

Energy Income Partners LLC purchased a new stake in shares of Danaher Corporation (NYSE:DHR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 92,723 shares of the conglomerate's stock, valued at approximately $66,764,000.

Other hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. purchased a new position in shares of Danaher in the second quarter valued at $44,000. MidFirst Bank purchased a new stake in Danaher during the second quarter valued at $46,000. Bell Investment Advisors Inc purchased a new stake in Danaher during the second quarter valued at $47,000. State of Wyoming bought a new position in Danaher during the second quarter valued at $74,000. Finally, Elevated Capital Advisors LLC bought a new position in Danaher during the fourth quarter valued at $26,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DHR has been the topic of a number of research reports. UBS Group reduced their target price on shares of Danaher from $270.00 to $250.00 and set a "buy" rating on the stock in a report on Wednesday, April 22nd. HSBC lowered their price target on shares of Danaher from $270.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, June 3rd. Citigroup assumed coverage on Danaher in a research note on Tuesday, May 26th. They set a "buy" rating and a $230.00 price objective on the stock. Piper Sandler initiated coverage on Danaher in a research report on Thursday, June 11th. They set a "neutral" rating and a $200.00 price objective on the stock. Finally, Wall Street Zen lowered Danaher from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $228.91.

Danaher Stock Performance

Shares of Danaher stock opened at $199.62 on Wednesday. The company has a market capitalization of $140.33 billion, a PE ratio of 35.46, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80. The stock's fifty day moving average is $193.74 and its two-hundred day moving average is $192.50. 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 data on Monday, July 20th. The conglomerate reported $1.94 earnings per share for the quarter, beating 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 quarter last year, the business posted $0.77 EPS. As a group, analysts expect that Danaher Corporation will post 8.53 earnings per share 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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