Puzo Michael J Makes New Investment in Danaher Corporation $DHR

Key Points

• Puzo Michael J initiated a position of 45,274 Danaher shares worth approximately $8.6 million, representing about 2.2% of its portfolio. Institutional investors collectively own 79.05% of DHR.
• Analysts maintain a broadly positive outlook, with 19 Buy, one Strong Buy, and five Hold ratings. The stock carries a “Moderate Buy” consensus and an average price target of $228.91, despite several recent target reductions.
• Danaher exceeded quarterly expectations, reporting $1.94 in adjusted earnings per share and $6.26 billion in revenue, with revenue increasing 5.5% year over year.

Puzo Michael J bought a new stake in Danaher Corporation (NYSE:DHR - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 45,274 shares of the conglomerate's stock, valued at approximately $8,624,000. Danaher makes up approximately 2.2% of Puzo Michael J's portfolio, making the stock its 19th largest position.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on DHR. Wells Fargo & Company lowered their price objective on shares of Danaher from $212.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 22nd. Guggenheim decreased their target price on Danaher from $235.00 to $200.00 and set a "buy" rating for the company in a research report on Wednesday, July 22nd. HSBC lowered their target price on Danaher from $270.00 to $230.00 and set a "buy" rating on the stock in a research note on Wednesday, June 3rd. Stifel Nicolaus dropped their price target on Danaher from $260.00 to $220.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. Finally, DZ Bank assumed coverage on Danaher in a research note on Wednesday, June 3rd. They set a "buy" rating and a $210.00 price target for the company. One equities research 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $228.91.

Danaher Stock Performance

Shares of DHR stock opened at $211.92 on Thursday. The firm's 50 day moving average is $194.30 and its 200 day moving average is $192.44. The stock has a market capitalization of $148.98 billion, a P/E ratio of 37.64, a PEG ratio of 2.49 and a beta of 0.78. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80. 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 released its quarterly earnings data on Monday, July 20th. The conglomerate reported $1.94 earnings per share 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 during the quarter, compared to analyst estimates of $6.12 billion. During the same period in the previous year, the business earned $0.77 EPS. Danaher's revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Danaher Corporation will post 8.53 earnings per share for the current year.

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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