Notis McConarty Edward Invests $4.54 Million in Danaher Corporation $DHR

Key Points

• Notis McConarty Edward acquired 23,856 Danaher shares worth approximately $4.54 million in the second quarter, making DHR about 2% of its portfolio. Institutional investors collectively own 79.05% of the company.
• Analyst sentiment remains positive, with Danaher holding a consensus “Moderate Buy” rating and an average price target of $228.91, although several firms recently lowered their targets.
• Danaher exceeded quarterly expectations, reporting $1.94 in adjusted earnings per share versus an estimated $1.85 and revenue of $6.26 billion, up 5.5% year over year.

Notis McConarty Edward acquired a new position in Danaher Corporation (NYSE:DHR - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 23,856 shares of the conglomerate's stock, valued at approximately $4,544,000. Danaher accounts for approximately 2.0% of Notis McConarty Edward's portfolio, making the stock its 20th biggest position.

A number of other institutional investors and hedge funds have also modified their holdings of DHR. Main Street Group LTD acquired a new stake in shares of Danaher during the 1st quarter valued at about $25,000. N.E.W. Advisory Services LLC bought a new position in Danaher during the second quarter worth about $25,000. JPL Wealth Management LLC bought a new position in Danaher during the third quarter worth about $25,000. WFA of San Diego LLC acquired a new stake in Danaher during the second quarter valued at approximately $26,000. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of Danaher in the 4th quarter valued at approximately $27,000. 79.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on DHR. Evercore reiterated an "outperform" rating and set a $230.00 price objective on shares of Danaher in a research note on Monday, July 6th. Wall Street Zen cut Danaher from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. HSBC reduced their price target on shares of Danaher from $270.00 to $230.00 and set a "buy" rating on the stock in a research report on Wednesday, June 3rd. Citigroup assumed coverage on shares of Danaher in a research report on Tuesday, May 26th. They set a "buy" rating and a $230.00 target price on the stock. Finally, Guggenheim decreased their price target on shares of Danaher from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. One investment 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. Based on data from MarketBeat.com, Danaher currently has a consensus rating of "Moderate Buy" and an average target price of $228.91.

Danaher Price Performance

Danaher stock opened at $216.14 on Friday. 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 firm has a market capitalization of $151.94 billion, a P/E ratio of 38.39, a PEG ratio of 2.63 and a beta of 0.78. The business has a 50-day moving average of $195.01 and a 200-day moving average of $192.43. Danaher Corporation has a 1 year low of $160.93 and a 1 year high of $242.80.

Danaher (NYSE:DHR - Get Free Report) last posted its earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.09. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same period in the previous year, the company posted $0.77 earnings per share. The company's revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities analysts anticipate that Danaher Corporation will post 8.53 EPS for the current 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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