Great Lakes Advisors LLC Acquires New Stake in Danaher Corporation $DHR

Key Points

• Great Lakes Advisors acquired 225,221 Danaher shares worth approximately $162.2 million, making DHR 1.2% of its portfolio and its 17th-largest holding. Institutional investors collectively own 79.05% of the company.
• Danaher reported quarterly earnings of $1.94 per share, beating estimates of $1.85, while revenue rose 5.5% year over year to $6.26 billion. The company’s stock was trading at $211.92, up 6.2%.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $228.91, despite several recent target-price reductions and rating downgrades.

Great Lakes Advisors LLC acquired a new stake in Danaher Corporation (NYSE:DHR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 225,221 shares of the conglomerate's stock, valued at approximately $162,171,000. Danaher comprises approximately 1.2% of Great Lakes Advisors LLC's portfolio, making the stock its 17th biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its position in shares of Danaher by 303.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 248,020 shares of the conglomerate's stock worth $56,777,000 after buying an additional 186,584 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Danaher by 1.0% in the fourth quarter. Legal & General Group Plc now owns 4,495,287 shares of the conglomerate's stock valued at $1,029,061,000 after acquiring an additional 43,169 shares in the last quarter. Advisors Capital Management LLC lifted its stake in Danaher by 14.0% in the fourth quarter. Advisors Capital Management LLC now owns 54,845 shares of the conglomerate's stock worth $12,555,000 after acquiring an additional 6,720 shares during the period. Handelsbanken Fonder AB grew its holdings in Danaher by 10.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 289,223 shares of the conglomerate's stock worth $55,091,000 after acquiring an additional 28,425 shares in the last quarter. Finally, Swiss Life Asset Management Ltd grew its holdings in Danaher by 12.1% during the 4th quarter. Swiss Life Asset Management Ltd now owns 115,335 shares of the conglomerate's stock worth $26,402,000 after acquiring an additional 12,416 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors.

Danaher Trading Up 6.2%

NYSE DHR opened at $211.92 on Thursday. 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 firm has a market cap of $148.98 billion, a PE ratio of 37.64, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78. The company has a 50 day moving average price of $194.30 and a 200 day moving average price of $192.44. 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 earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.09. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same period last year, the firm earned $0.77 earnings per share. Danaher's revenue was up 5.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DHR has been the subject of several recent research reports. Wolfe Research lowered shares of Danaher from an "outperform" rating to a "peer perform" rating in a report on Monday, June 1st. Piper Sandler initiated coverage on shares of Danaher in a report on Thursday, June 11th. They set a "neutral" rating and a $200.00 price objective on the stock. Stifel Nicolaus reduced their price objective on shares of Danaher from $260.00 to $220.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. Weiss Ratings upgraded Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. cut their price target on Danaher from $275.00 to $245.00 and set an "overweight" rating on the stock in a report on Wednesday, April 22nd. One research 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's stock. Based on data from MarketBeat.com, the company 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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