Park State Asset Management Buys New Shares in Danaher Corporation $DHR

Park State Asset Management purchased a new stake in shares of Danaher Corporation (NYSE:DHR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,089 shares of the conglomerate's stock, valued at approximately $2,112,000. Danaher makes up 2.1% of Park State Asset Management's investment portfolio, making the stock its 15th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. High Note Wealth LLC increased its position in shares of Danaher by 19.2% during the 4th quarter. High Note Wealth LLC now owns 292 shares of the conglomerate's stock valued at $67,000 after purchasing an additional 47 shares during the last quarter. First Command Advisory Services Inc. lifted its position in Danaher by 4.4% in the 4th quarter. First Command Advisory Services Inc. now owns 1,104 shares of the conglomerate's stock worth $253,000 after buying an additional 47 shares during the last quarter. GW&K Investment Management LLC boosted its stake in Danaher by 8.4% in the fourth quarter. GW&K Investment Management LLC now owns 605 shares of the conglomerate's stock worth $138,000 after buying an additional 47 shares in the last quarter. Kestra Private Wealth Services LLC grew its position in Danaher by 0.3% during the third quarter. Kestra Private Wealth Services LLC now owns 15,421 shares of the conglomerate's stock valued at $3,057,000 after acquiring an additional 48 shares during the last quarter. Finally, SOL Capital Management CO grew its position in Danaher by 2.7% during the fourth quarter. SOL Capital Management CO now owns 1,879 shares of the conglomerate's stock valued at $430,000 after acquiring an additional 50 shares during the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Danaher Stock Performance

Shares of DHR stock opened at $199.62 on Wednesday. The stock has a fifty day moving average of $193.74 and a 200 day moving average of $192.50. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80. The firm has a market capitalization of $140.33 billion, a price-to-earnings ratio of 35.46, a PEG ratio of 2.52 and a beta of 0.78. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48.

Danaher (NYSE:DHR - Get Free Report) last issued its quarterly earnings data on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. During the same period in the previous year, the firm earned $0.77 EPS. The company's quarterly revenue was up 5.5% compared to the same quarter last year. As a group, research analysts expect that Danaher Corporation will post 8.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on DHR shares. DZ Bank began coverage on shares of Danaher in a report on Wednesday, June 3rd. They set a "buy" rating and a $210.00 target price on the stock. Morgan Stanley lowered their price target on shares of Danaher from $270.00 to $255.00 and set an "overweight" rating for the company in a research note on Wednesday, April 22nd. Piper Sandler began coverage on Danaher in a research note on Thursday, June 11th. They set a "neutral" rating and a $200.00 price objective on the stock. Weiss Ratings upgraded Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, July 15th. Finally, Citigroup initiated coverage on Danaher in a research note on Tuesday, May 26th. They issued a "buy" rating and a $230.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $228.91.

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.

Want to see what other hedge funds are holding DHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Danaher Corporation (NYSE:DHR - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source