Envestnet Portfolio Solutions Inc. Buys 64,373 Shares of Danaher Corporation $DHR

Key Points

• Envestnet Portfolio Solutions increased its Danaher stake by 224.1% in the second quarter, purchasing 64,373 additional shares for a total holding of 93,098 shares valued at approximately $17.7 million. Institutional investors collectively own 79.05% of Danaher.
• Danaher reported quarterly EPS of $1.94, beating estimates of $1.85, while revenue rose 5.5% year over year to $6.26 billion. The stock recently traded at $221.80, near analysts’ consensus price target of $229.32.
• Analysts maintain a generally positive outlook, with Danaher carrying a “Moderate Buy” consensus rating and price targets ranging from $200 to $250. The company also declared a quarterly dividend of $0.40 per share, representing a 0.7% annualized yield.

Envestnet Portfolio Solutions Inc. grew its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 224.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,098 shares of the conglomerate's stock after purchasing an additional 64,373 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Danaher were worth $17,733,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Andra AP fonden lifted its position in Danaher by 9.1% during the 2nd quarter. Andra AP fonden now owns 83,642 shares of the conglomerate's stock valued at $15,932,000 after acquiring an additional 7,000 shares during the period. Security National Bank of Sioux City Iowa IA boosted its stake in Danaher by 27.2% during the second quarter. Security National Bank of Sioux City Iowa IA now owns 11,037 shares of the conglomerate's stock worth $2,102,000 after acquiring an additional 2,360 shares in the last quarter. Wellington Altus USA Inc. grew its holdings in Danaher by 45.6% in the second quarter. Wellington Altus USA Inc. now owns 198 shares of the conglomerate's stock worth $38,000 after purchasing an additional 62 shares during the period. Reynders McVeigh Capital Management LLC increased its stake in shares of Danaher by 0.5% during the second quarter. Reynders McVeigh Capital Management LLC now owns 212,366 shares of the conglomerate's stock valued at $40,451,000 after purchasing an additional 1,058 shares in the last quarter. Finally, Marathon Wealth Advisors LLC lifted its holdings in shares of Danaher by 1.7% during the second quarter. Marathon Wealth Advisors LLC now owns 9,837 shares of the conglomerate's stock valued at $1,874,000 after purchasing an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.

Danaher Stock Performance

DHR stock opened at $221.80 on Thursday. The stock's 50 day simple moving average is $205.26 and its 200 day simple moving average is $192.29. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48. Danaher Corporation has a 12-month low of $160.93 and a 12-month high of $242.80. The stock has a market capitalization of $155.92 billion, a PE ratio of 39.40, a price-to-earnings-growth ratio of 2.75 and a beta of 0.78.

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

Danaher Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. Danaher's payout ratio is currently 28.42%.

Analyst Ratings Changes

A number of analysts have recently commented on DHR shares. Evercore reissued an "outperform" rating and issued a $230.00 price target on shares of Danaher in a research report on Monday, July 6th. HSBC lowered their price objective on Danaher from $270.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, June 3rd. 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. UBS Group started coverage on Danaher in a research note on Wednesday, September 9th. They issued a "buy" rating and a $250.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $240.00 price target on shares of Danaher in a research report on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Danaher presently has a consensus rating of "Moderate Buy" and an average price target of $229.32.

Danaher Company Profile

Danaher Corporation NYSE: DHR is a global science and technology company that develops products, services and solutions for the life sciences, biotechnology and diagnostics markets. Its businesses support pharmaceutical and biotechnology research, biomanufacturing, clinical laboratories and healthcare providers.

The company's portfolio includes bioprocessing technologies, laboratory instruments, consumables, reagents and software. Key businesses include Cytiva, which provides biomanufacturing solutions; Beckman Coulter, which supplies laboratory diagnostics and automation systems; Leica Biosystems, which develops pathology products; and IDT, which provides genomic and nucleic acid products.

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