NewEdge Wealth LLC Invests $4.41 Million in Danaher Corporation $DHR

Key Points

• NewEdge Wealth acquired 23,171 Danaher shares in the second quarter, worth approximately $4.41 million. Institutional investors collectively own 79.05% of the company.
• Analysts maintain a generally positive outlook, with Danaher holding a “Moderate Buy” consensus rating and an average price target of $228.91, despite several recent target-price reductions.
• Danaher exceeded quarterly expectations, reporting $1.94 in EPS versus the $1.85 consensus and $6.26 billion in revenue, up 5.5% year over year.

NewEdge Wealth LLC acquired a new position in shares of Danaher Corporation (NYSE:DHR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 23,171 shares of the conglomerate's stock, valued at approximately $4,414,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sivia Capital Partners LLC raised its stake in Danaher by 6.3% during the second quarter. Sivia Capital Partners LLC now owns 2,009 shares of the conglomerate's stock worth $397,000 after acquiring an additional 119 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Danaher by 34.5% in the 2nd quarter. First Trust Advisors LP now owns 55,418 shares of the conglomerate's stock valued at $10,947,000 after purchasing an additional 14,217 shares in the last quarter. Main Street Financial Solutions LLC boosted its stake in shares of Danaher by 40.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,088 shares of the conglomerate's stock valued at $610,000 after purchasing an additional 886 shares in the last quarter. Ieq Capital LLC grew its holdings in shares of Danaher by 64.2% during the 2nd quarter. Ieq Capital LLC now owns 75,714 shares of the conglomerate's stock valued at $14,957,000 after purchasing an additional 29,592 shares during the last quarter. Finally, HUB Investment Partners LLC increased its position in Danaher by 30.7% during the 2nd quarter. HUB Investment Partners LLC now owns 1,383 shares of the conglomerate's stock worth $273,000 after purchasing an additional 325 shares in the last quarter. Institutional investors own 79.05% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. TD Cowen dropped their price objective on shares of Danaher from $240.00 to $236.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. Stifel Nicolaus decreased their target price on shares of Danaher from $260.00 to $220.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. Wolfe Research cut Danaher from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 1st. Evercore reissued an "outperform" rating and set a $230.00 price objective on shares of Danaher in a report on Monday, July 6th. Finally, Argus reduced their price objective on Danaher from $265.00 to $230.00 and set a "buy" rating on the stock in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Danaher currently has an average rating of "Moderate Buy" and an average price target of $228.91.

Danaher Stock Up 6.2%

NYSE:DHR opened at $211.92 on Thursday. Danaher Corporation has a one year low of $160.93 and a one year high of $242.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25. 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. The firm's 50 day simple moving average is $194.30 and its 200 day simple moving average is $192.44.

Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.09. The firm had revenue of $6.26 billion during 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 revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 EPS. On average, research analysts anticipate that Danaher Corporation will post 8.53 earnings per share for the current 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.

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