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Oslo Pensjonsforsikring AS Takes Position in Danaher Corporation $DHR

Danaher logo with Medical background
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Key Points

  • Oslo Pensjonsforsikring AS opened a new position in Danaher during the first quarter, buying 93,044 shares worth about $17.6 million. The stake makes Danaher the fund’s 14th largest holding, or about 2.7% of its portfolio.
  • Danaher’s latest quarterly results topped expectations, with EPS of $1.94 versus $1.84 estimated and revenue of roughly $6.26 billion to $6.3 billion above forecasts. The company also raised full-year adjusted EPS guidance.
  • Despite the earnings beat, investors focused on a weaker revenue outlook and softer bioprocessing sales, which pressured the stock. Analysts remain mostly positive overall, with the consensus rating at Moderate Buy and an average price target of $231.64.
  • MarketBeat previews top five stocks to own in August.

Oslo Pensjonsforsikring AS bought a new position in shares of Danaher Corporation (NYSE:DHR - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 93,044 shares of the conglomerate's stock, valued at approximately $17,641,000. Danaher makes up approximately 2.7% of Oslo Pensjonsforsikring AS's investment portfolio, making the stock its 14th largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Main Street Group LTD purchased a new stake in Danaher during the 1st quarter worth $25,000. JPL Wealth Management LLC purchased a new position in Danaher in the 3rd quarter valued at about $25,000. Elevated Capital Advisors LLC acquired a new stake in shares of Danaher during the fourth quarter valued at about $26,000. WFA of San Diego LLC acquired a new stake in shares of Danaher during the second quarter valued at about $26,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of Danaher during the fourth quarter worth about $27,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DHR has been the topic of several analyst reports. Weiss Ratings upgraded Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, July 15th. Jefferies Financial Group reissued a "buy" rating and set a $245.00 price target on shares of Danaher in a research report on Tuesday, April 21st. Robert W. Baird dropped their price target on shares of Danaher from $251.00 to $249.00 and set an "outperform" rating for the company in a research note on Friday, April 17th. HSBC cut their price target on shares of Danaher from $270.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, June 3rd. Finally, Wolfe Research downgraded shares of Danaher from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $231.64.

View Our Latest Stock Analysis on Danaher

Key Danaher News

Here are the key news stories impacting Danaher this week:

Danaher Stock Performance

DHR stock opened at $179.01 on Wednesday. Danaher Corporation has a 1 year low of $160.93 and a 1 year high of $242.80. The stock has a market capitalization of $126.70 billion, a price-to-earnings ratio of 34.62, a PEG ratio of 2.48 and a beta of 0.79. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.52 and a current ratio of 1.87. The stock's fifty day moving average is $184.22 and its two-hundred day moving average is $197.69.

Danaher (NYSE:DHR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.10. Danaher had a return on equity of 10.91% and a net margin of 14.89%.The business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.11 billion. During the same period in the prior year, the company posted $0.77 EPS. The business's revenue for the quarter was up 5.5% compared to the same quarter last year. On average, research analysts predict that Danaher Corporation will post 8.45 EPS for the current year.

Danaher Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, June 26th will be given a $0.40 dividend. The ex-dividend date is Friday, June 26th. This represents a $1.60 annualized dividend and a yield of 0.9%. Danaher's payout ratio is 30.95%.

Danaher Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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.

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