Parnassus Investments LLC Has $784.75 Million Stock Position in Danaher Corporation $DHR

Key Points

• Parnassus Investments LLC increased its stake in Danaher Corporation by 23.3%, holding 3,828,024 shares valued at approximately $784.75 million.
• Multiple hedge funds, including Vanguard Group and Invesco Ltd., have also bolstered their positions in Danaher, with institutional ownership totaling 79.05%.
• Danaher reported an EPS of $1.80 for the last quarter, exceeding estimates, while analysts maintain a consensus rating of "Moderate Buy" with an average price target of $247.61.

Parnassus Investments LLC raised its holdings in shares of Danaher Corporation (NYSE:DHR - Free Report) by 23.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,828,024 shares of the conglomerate's stock after buying an additional 722,636 shares during the quarter. Danaher comprises about 1.9% of Parnassus Investments LLC's portfolio, making the stock its 21st biggest holding. Parnassus Investments LLC owned approximately 0.53% of Danaher worth $784,745,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Danaher by 0.4% during the first quarter. Vanguard Group Inc. now owns 59,981,088 shares of the conglomerate's stock worth $12,296,123,000 after purchasing an additional 230,966 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Danaher by 3.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,592,211 shares of the conglomerate's stock worth $4,016,404,000 after purchasing an additional 612,154 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Danaher by 2.3% during the first quarter. Bank of New York Mellon Corp now owns 8,783,485 shares of the conglomerate's stock worth $1,800,614,000 after purchasing an additional 194,466 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Danaher by 11.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,677,032 shares of the conglomerate's stock worth $1,303,163,000 after purchasing an additional 579,046 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Danaher by 44.5% during the first quarter. Invesco Ltd. now owns 4,708,578 shares of the conglomerate's stock worth $965,259,000 after purchasing an additional 1,450,703 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company's stock.

Danaher Trading Down 1.0%

Shares of DHR stock traded down $2.02 during trading hours on Tuesday, hitting $203.80. 1,709,077 shares of the company were exchanged, compared to its average volume of 4,156,571. The firm has a fifty day moving average of $201.84 and a 200 day moving average of $199.46. The firm has a market cap of $145.93 billion, a PE ratio of 43.36, a PEG ratio of 2.87 and a beta of 0.75. Danaher Corporation has a 1 year low of $171.00 and a 1 year high of $279.90. The company has a quick ratio of 1.22, a current ratio of 1.62 and a debt-to-equity ratio of 0.32.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.64 by $0.16. The firm had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.83 billion. Danaher had a return on equity of 10.70% and a net margin of 14.21%.Danaher's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.72 EPS. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. Analysts expect that Danaher Corporation will post 7.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wells Fargo & Company decreased their price target on Danaher from $210.00 to $205.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 23rd. Guggenheim reaffirmed a "buy" rating and set a $250.00 price objective on shares of Danaher in a research report on Wednesday, July 23rd. Robert W. Baird boosted their target price on shares of Danaher from $225.00 to $226.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Danaher from $240.00 to $235.00 in a research report on Thursday, June 5th. Finally, Evercore ISI reduced their price objective on shares of Danaher from $230.00 to $226.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Seventeen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $247.61.

Insider Buying and Selling

In related news, Director Teri List sold 2,778 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $211.06, for a total value of $586,324.68. Following the sale, the director owned 20,751 shares of the company's stock, valued at approximately $4,379,706.06. This trade represents a 11.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 11.20% of the stock is currently owned by corporate insiders.

About Danaher

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.