Madison Asset Management LLC Acquires Shares of 448,611 Danaher Corporation $DHR

Key Points

• Madison Asset Management acquired 448,611 Danaher shares worth approximately $85.5 million, making DHR 1.0% of its portfolio and its 27th-largest holding.
• Institutional ownership remains high at 79.05%, with BlackRock, Norges Bank, Generation Investment Management and other major investors also adding new positions.
• Danaher reported quarterly revenue of $6.26 billion and EPS of $1.94, exceeding analyst expectations. The stock was trading at $211.92, while analysts maintained a “Moderate Buy” consensus with an average price target of $228.91.

Madison Asset Management LLC acquired a new stake in shares of Danaher Corporation (NYSE:DHR - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 448,611 shares of the conglomerate's stock, valued at approximately $85,451,000. Danaher comprises 1.0% of Madison Asset Management LLC's holdings, making the stock its 27th largest holding. Madison Asset Management LLC owned 0.06% of Danaher as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Danaher in the 2nd quarter valued at $10,492,520,000. Norges Bank purchased a new stake in Danaher in the 4th quarter worth $2,177,106,000. Generation Investment Management LLP bought a new position in shares of Danaher during the 2nd quarter valued at about $1,287,949,000. Flossbach Von Storch SE bought a new position in shares of Danaher during the 2nd quarter valued at about $747,260,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Danaher during the second quarter valued at about $712,875,000. Institutional investors own 79.05% of the company's stock.

Danaher Stock Up 6.2%

Shares of 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 business has a fifty day moving average of $194.30 and a 200 day moving average of $192.44. The company has a market cap of $148.98 billion, a PE ratio of 37.64, a P/E/G ratio of 2.49 and a beta of 0.78. 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 posted 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. 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 business posted $0.77 earnings per share. The business's revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts expect that Danaher Corporation will post 8.53 EPS for the current year.

Wall Street Analyst Weigh In

DHR has been the topic of several research reports. HSBC reduced their target price on Danaher from $270.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, June 3rd. Wall Street Zen cut Danaher from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. Argus cut their price target on Danaher from $265.00 to $230.00 and set a "buy" rating for the company in a report on Friday, April 24th. Morgan Stanley reduced their price objective on Danaher from $270.00 to $255.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 22nd. Finally, Royal Bank Of Canada upped their price objective on Danaher from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $228.91.

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.

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