Osterweis Capital Management Inc. Buys Shares of 186,015 Danaher Corporation $DHR

Key Points

• Osterweis Capital Management initiated a Danaher position of 186,015 shares valued at approximately $35.4 million, representing about 1.7% of its portfolio. Institutional investors collectively own 79.05% of Danaher’s outstanding shares.
• Analysts maintain a generally positive outlook, with one Strong Buy, 19 Buy and five Hold ratings. Danaher has a consensus “Moderate Buy” rating and an average price target of $228.91.
• Danaher exceeded quarterly expectations, reporting adjusted EPS of $1.94 versus the $1.85 consensus and revenue of $6.26 billion, up 5.5% year over year.

Osterweis Capital Management Inc. purchased a new stake in Danaher Corporation (NYSE:DHR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 186,015 shares of the conglomerate's stock, valued at approximately $35,432,000. Danaher accounts for approximately 1.7% of Osterweis Capital Management Inc.'s holdings, making the stock its 18th largest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in DHR. BlackRock Inc. acquired a new position in Danaher in the second quarter valued at approximately $10,492,520,000. Norges Bank purchased a new stake in Danaher in the fourth quarter valued at $2,177,106,000. Generation Investment Management LLP acquired a new position in Danaher in the second quarter valued at about $1,287,949,000. Legal & General Group Plc acquired a new position in shares of Danaher in the 2nd quarter worth approximately $801,056,000. Finally, Flossbach Von Storch SE acquired a new position in Danaher during the second quarter worth $747,260,000. Institutional investors and hedge funds own 79.05% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DHR. Citigroup began coverage on shares of Danaher in a research report on Tuesday, May 26th. They set a "buy" rating and a $230.00 price target on the stock. Royal Bank Of Canada increased their target price on shares of Danaher from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Wednesday, July 22nd. Stifel Nicolaus dropped their price target on shares of Danaher from $260.00 to $220.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. Wells Fargo & Company reduced their price objective on Danaher from $212.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 22nd. Finally, Wolfe Research lowered Danaher from an "outperform" rating to a "peer perform" rating in a report on Monday, June 1st. One equities 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 stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $228.91.

Danaher Price Performance

Shares of DHR opened at $215.18 on Tuesday. Danaher Corporation has a twelve month low of $160.93 and a twelve month high of $242.80. The firm's fifty day simple moving average is $196.49 and its 200-day simple moving average is $192.39. The firm has a market capitalization of $151.27 billion, a price-to-earnings ratio of 38.22, a PEG ratio of 2.72 and a beta of 0.78. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48.

Danaher (NYSE:DHR - Get Free Report) last issued its earnings results on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, topping 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 firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter in the previous year, the firm posted $0.77 earnings per share. The company's revenue was up 5.5% compared to the same quarter last year. Equities analysts forecast that Danaher Corporation will post 8.53 EPS for the current fiscal 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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