Royal London Asset Management Ltd. Grows Position in Danaher Corporation $DHR

Key Points

• Royal London Asset Management increased its Danaher stake by 209.7% in the second quarter, acquiring 681,996 additional shares and ending with 1.01 million shares worth approximately $191.9 million.
• Danaher reported quarterly earnings of $1.94 per share and revenue of $6.26 billion, exceeding analyst expectations; revenue rose 5.5% year over year.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $228.91, despite several firms recently lowering their targets.

Royal London Asset Management Ltd. boosted its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 209.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,007,284 shares of the conglomerate's stock after acquiring an additional 681,996 shares during the period. Royal London Asset Management Ltd. owned 0.14% of Danaher worth $191,867,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Main Street Group LTD purchased a new position in shares of Danaher during the first quarter valued at about $25,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Danaher in the second quarter worth about $25,000. JPL Wealth Management LLC bought a new position in Danaher during the third quarter valued at approximately $25,000. WFA of San Diego LLC purchased a new position in Danaher during the 2nd quarter valued at approximately $26,000. Finally, Hilton Head Capital Partners LLC purchased a new position in Danaher during the 4th quarter valued at approximately $27,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

Danaher Stock Up 0.3%

Shares of NYSE DHR opened at $216.41 on Friday. Danaher Corporation has a 1 year low of $160.93 and a 1 year high of $242.80. The firm has a 50-day simple moving average of $199.46 and a two-hundred day simple moving average of $192.52. The company has a market cap of $152.13 billion, a P/E ratio of 38.44, a PEG ratio of 2.69 and a beta of 0.78. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25.

Danaher (NYSE:DHR - Get Free Report) last issued its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.12 billion. During the same period in the prior year, the business posted $0.77 earnings per share. The company's revenue for the quarter was up 5.5% on a year-over-year basis. Research analysts anticipate that Danaher Corporation will post 8.53 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on DHR. Stifel Nicolaus decreased their price objective on Danaher from $260.00 to $220.00 and set a "buy" rating on the stock in a report on Wednesday, July 22nd. Weiss Ratings raised shares of Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, July 15th. Citigroup started coverage on shares of Danaher in a research report on Tuesday, May 26th. They set a "buy" rating and a $230.00 price objective for the company. Piper Sandler assumed coverage on shares of Danaher in a report on Thursday, June 11th. They issued a "neutral" rating and a $200.00 price target for the company. Finally, Guggenheim reduced their price objective on Danaher from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Danaher currently has an average rating of "Moderate Buy" and an average price target of $228.91.

Danaher 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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