Montanova Capital LLC Decreases Stock Holdings in Danaher Corporation $DHR

Key Points

• Montanova Capital cut its Danaher stake by 26.9% in the second quarter, selling 9,780 shares and retaining 26,600 shares valued at approximately $5.07 million.
• Analysts remain broadly positive on Danaher, with a “Moderate Buy” consensus rating and an average price target of $228.91; several firms recently raised or reaffirmed their targets.
• Danaher exceeded quarterly expectations, reporting $1.94 in EPS and $6.26 billion in revenue, while revenue increased 5.5% year over year.

Montanova Capital LLC trimmed its position in shares of Danaher Corporation (NYSE:DHR - Free Report) by 26.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,600 shares of the conglomerate's stock after selling 9,780 shares during the period. Montanova Capital LLC's holdings in Danaher were worth $5,067,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Main Street Group LTD purchased a new stake in Danaher in the 1st quarter worth approximately $25,000. N.E.W. Advisory Services LLC bought a new stake in shares of Danaher in the 2nd quarter worth approximately $25,000. JPL Wealth Management LLC purchased a new position in shares of Danaher during the third quarter valued at approximately $25,000. WFA of San Diego LLC bought a new position in shares of Danaher during the second quarter valued at approximately $26,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in Danaher in the fourth quarter worth $27,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on DHR shares. Weiss Ratings raised shares of Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, July 15th. Evercore reaffirmed an "outperform" rating and issued a $230.00 target price on shares of Danaher in a research report on Monday, July 6th. Royal Bank Of Canada lifted their target price on shares of Danaher from $200.00 to $215.00 and gave the company an "outperform" rating in a research note on Wednesday, July 22nd. DZ Bank assumed coverage on shares of Danaher in a research note on Wednesday, June 3rd. They issued a "buy" rating and a $210.00 price target for the company. Finally, TD Cowen lowered their price objective on shares of Danaher from $240.00 to $236.00 and set a "buy" rating for the company in a report 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $228.91.

Danaher Price Performance

DHR opened at $213.90 on Tuesday. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48. The company has a market cap of $150.37 billion, a price-to-earnings ratio of 37.99, a price-to-earnings-growth ratio of 2.69 and a beta of 0.78. The stock has a fifty day simple moving average of $200.18 and a two-hundred day simple moving average of $192.31. Danaher Corporation has a 12-month low of $160.93 and a 12-month high of $242.80.

Danaher (NYSE:DHR - Get Free Report) last announced its 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. The firm had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.12 billion. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The company's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.77 EPS. Research analysts predict that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

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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