Ieq Capital LLC Invests $153.54 Million in Danaher Corporation $DHR

Key Points

• Ieq Capital acquired 213,233 Danaher shares worth approximately $153.5 million in the second quarter, making DHR its 19th-largest holding and 0.7% of its portfolio.
• Institutional ownership remains high at 79.05%, with major investors including BlackRock, State Street, Capital International Investors, T. Rowe Price and Wellington increasing or initiating positions.
• Danaher reported quarterly EPS of $1.94 and revenue of $6.26 billion, beating estimates, while analysts maintain a “Moderate Buy” consensus with an average price target of $228.91.

Ieq Capital LLC acquired a new stake in Danaher Corporation (NYSE:DHR - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 213,233 shares of the conglomerate's stock, valued at approximately $153,536,000. Danaher accounts for 0.7% of Ieq Capital LLC's investment portfolio, making the stock its 19th biggest holding.

Several other large investors have also added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Danaher in the second quarter valued at approximately $10,492,520,000. State Street Corp increased its stake in shares of Danaher by 1.7% in the 4th quarter. State Street Corp now owns 27,681,334 shares of the conglomerate's stock valued at $6,345,529,000 after acquiring an additional 472,608 shares in the last quarter. Capital International Investors increased its stake in shares of Danaher by 8.9% in the 4th quarter. Capital International Investors now owns 18,246,008 shares of the conglomerate's stock valued at $4,177,386,000 after acquiring an additional 1,487,768 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Danaher by 9.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,973,240 shares of the conglomerate's stock valued at $3,656,595,000 after acquiring an additional 1,334,221 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Danaher by 11.2% during the 4th quarter. Wellington Management Group LLP now owns 15,076,796 shares of the conglomerate's stock valued at $3,451,380,000 after acquiring an additional 1,517,904 shares during the period. Institutional investors and hedge funds own 79.05% of the company's stock.

Analyst Ratings Changes

DHR has been the subject of a number of research reports. Stifel Nicolaus reduced their price target on shares of Danaher from $260.00 to $220.00 and set a "buy" rating for the company in a report on Wednesday, July 22nd. Piper Sandler started 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. Weiss Ratings upgraded Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, July 15th. Royal Bank Of Canada boosted their target price on Danaher from $200.00 to $215.00 and gave the company an "outperform" rating in a research report on Wednesday, July 22nd. Finally, Argus dropped their price target on Danaher from $265.00 to $230.00 and set a "buy" rating on the stock in a research note on Friday, April 24th. One 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $228.91.

Danaher Stock Up 1.6%

Shares of NYSE:DHR opened at $219.42 on Friday. The stock has a market cap of $154.25 billion, a price-to-earnings ratio of 38.97, a PEG ratio of 2.69 and a beta of 0.78. 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 Corporation has a 12-month low of $160.93 and a 12-month high of $242.80. The business's 50 day moving average is $195.80 and its 200 day moving average is $192.61.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 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 business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same period in the prior year, the firm posted $0.77 EPS. Danaher's quarterly revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts forecast that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Danaher Company 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.

Want to see what other hedge funds are holding DHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Danaher Corporation (NYSE:DHR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source