Ieq Capital LLC Invests $11.61 Million in Danaher Corporation $DHR

Key Points

• Ieq Capital acquired 60,943 Danaher shares during the second quarter, worth approximately $11.61 million. Other institutions also initiated positions, with institutional investors collectively owning 79.05% of the stock.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $228.91, despite several recent target reductions and rating downgrades.
• Danaher exceeded quarterly expectations, reporting $1.94 in adjusted EPS versus $1.85 expected and $6.26 billion in revenue versus $6.12 billion expected; revenue increased 5.5% year over year.

Ieq Capital LLC acquired a new stake in shares of Danaher Corporation (NYSE:DHR - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 60,943 shares of the conglomerate's stock, valued at approximately $11,609,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Callan Family Office LLC purchased a new position in Danaher during the second quarter valued at approximately $3,023,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Danaher in the second quarter worth $90,000. Patron Partners LLC purchased a new stake in shares of Danaher in the second quarter worth $460,000. Allworth Financial LP bought a new stake in shares of Danaher during the 2nd quarter valued at $2,129,000. Finally, Greenspring Advisors LLC bought a new stake in shares of Danaher during the 2nd quarter valued at $217,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on DHR shares. Wall Street Zen downgraded shares of Danaher from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. HSBC decreased their price target on Danaher from $270.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, June 3rd. Wolfe Research lowered Danaher from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 1st. Royal Bank Of Canada increased their target price on Danaher from $200.00 to $215.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 22nd. Finally, TD Cowen decreased their target price on Danaher from $240.00 to $236.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $228.91.

Danaher Stock Performance

DHR opened at $219.42 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.65. The stock has a market capitalization of $154.25 billion, a price-to-earnings ratio of 38.97, a PEG ratio of 2.72 and a beta of 0.78. The company has a fifty day moving average of $195.80 and a 200 day moving average of $192.61. Danaher Corporation has a fifty-two week low of $160.93 and a fifty-two week high of $242.80.

Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, topping 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 business 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 company earned $0.77 EPS. The business's quarterly 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 earnings per share for the current fiscal 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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