Pinnbrook Capital Management LP Takes Position in Danaher Corporation $DHR

Key Points

• Pinnbrook Capital Management acquired 23,734 Danaher shares worth approximately $17.1 million, making DHR about 1.8% of its portfolio and its 13th-largest holding.
• Danaher reported quarterly EPS of $1.94, beating estimates of $1.85, while revenue rose 5.5% year over year to $6.26 billion. Institutional investors and hedge funds own approximately 79.05% of the company.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an average price target of $228.91; the stock recently opened at $219.42.

Pinnbrook Capital Management LP bought a new position in shares of Danaher Corporation (NYSE:DHR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 23,734 shares of the conglomerate's stock, valued at approximately $17,089,000. Danaher makes up approximately 1.8% of Pinnbrook Capital Management LP's investment portfolio, making the stock its 13th largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Danaher during the 2nd quarter valued at $10,492,520,000. State Street Corp lifted its holdings in shares of Danaher by 1.7% in the fourth quarter. State Street Corp now owns 27,681,334 shares of the conglomerate's stock valued at $6,345,529,000 after buying an additional 472,608 shares during the period. Capital International Investors boosted its stake in Danaher by 8.9% during the fourth quarter. Capital International Investors now owns 18,246,008 shares of the conglomerate's stock valued at $4,177,386,000 after buying an additional 1,487,768 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Danaher by 9.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,973,240 shares of the conglomerate's stock valued at $3,656,595,000 after buying an additional 1,334,221 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Danaher by 11.2% during the fourth quarter. Wellington Management Group LLP now owns 15,076,796 shares of the conglomerate's stock worth $3,451,380,000 after acquiring an additional 1,517,904 shares during the period. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Danaher Price Performance

Shares of DHR opened at $219.42 on Friday. The business's 50-day moving average is $195.80 and its 200-day moving average is $192.61. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25. The company has a market capitalization of $154.25 billion, a price-to-earnings ratio of 38.97, a P/E/G ratio of 2.72 and a beta of 0.78. Danaher Corporation has a fifty-two week low of $160.93 and a fifty-two week high of $242.80.

Danaher (NYSE:DHR - Get Free Report) last released 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 return on equity of 11.04% and a net margin of 15.95%.The firm had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.12 billion. During the same quarter last year, the firm earned $0.77 earnings per share. The business's revenue for the quarter was up 5.5% on a year-over-year basis. Equities research analysts expect that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Analyst Ratings Changes

DHR has been the topic of several research reports. Royal Bank Of Canada boosted their price target on shares of Danaher from $200.00 to $215.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 22nd. Stifel Nicolaus lowered their price objective on shares of Danaher from $260.00 to $220.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. HSBC dropped their target price 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. DZ Bank began coverage on shares of Danaher in a research note on Wednesday, June 3rd. They set a "buy" rating and a $210.00 target price for the company. Finally, Weiss Ratings upgraded shares of Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, July 15th. One 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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.

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