Southpoint Capital Advisors LP Purchases New Position in Danaher Corporation $DHR

Key Points

• Southpoint Capital Advisors acquired 600,000 Danaher shares worth approximately $113.8 million, making DHR a 2.3% portfolio holding and its 19th-largest position.
• Analysts maintain a generally positive outlook, with one Strong Buy, 19 Buy, and five Hold ratings; the consensus price target is $228.91 versus a recent share price of $196.57.
• Danaher exceeded quarterly expectations, reporting $1.94 in EPS and $6.26 billion in revenue, while revenue increased 5.5% year over year. The company also declared a quarterly dividend of $0.40 per share, representing a 0.8% yield.

Southpoint Capital Advisors LP acquired a new stake in Danaher Corporation (NYSE:DHR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 600,000 shares of the conglomerate's stock, valued at approximately $113,760,000. Danaher comprises about 2.3% of Southpoint Capital Advisors LP's investment portfolio, making the stock its 19th largest holding. Southpoint Capital Advisors LP owned about 0.08% of Danaher at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bank Pictet & Cie Europe AG grew its stake in shares of Danaher by 25.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 366,481 shares of the conglomerate's stock worth $83,895,000 after purchasing an additional 74,301 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Danaher by 303.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 248,020 shares of the conglomerate's stock worth $56,777,000 after purchasing an additional 186,584 shares during the last quarter. SeaBridge Investment Advisors LLC acquired a new position in Danaher during the 4th quarter worth about $4,477,000. Legal & General Group Plc grew its position in shares of Danaher by 1.0% in the 4th quarter. Legal & General Group Plc now owns 4,495,287 shares of the conglomerate's stock valued at $1,029,061,000 after buying an additional 43,169 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Danaher by 220.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 674,373 shares of the conglomerate's stock valued at $154,377,000 after buying an additional 463,764 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DHR. DZ Bank assumed coverage on Danaher in a research report on Wednesday, June 3rd. They set a "buy" rating and a $210.00 price objective for the company. Guggenheim lowered their price target on shares of Danaher from $235.00 to $200.00 and set a "buy" rating for the company in a report on Wednesday, July 22nd. TD Cowen dropped their price target on shares of Danaher from $240.00 to $236.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. Jefferies Financial Group reaffirmed a "buy" rating and issued a $245.00 price objective on shares of Danaher in a research note on Tuesday, April 21st. Finally, Rothschild & Co Redburn set a $205.00 target price on shares of Danaher in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $228.91.

Danaher Price Performance

Shares of DHR opened at $196.57 on Tuesday. The firm has a market cap of $138.19 billion, a PE ratio of 34.92, a price-to-earnings-growth ratio of 2.38 and a beta of 0.79. Danaher Corporation has a 52-week low of $160.93 and a 52-week high of $242.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.65. The business's 50 day moving average price is $186.29 and its two-hundred day moving average price is $196.48.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The conglomerate reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.09. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the previous year, the business posted $0.77 EPS. Danaher's revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities analysts anticipate that Danaher Corporation will post 8.53 EPS for the current year.

Danaher Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, June 26th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, June 26th. This represents a $1.60 annualized dividend and a dividend yield of 0.8%. Danaher's dividend payout ratio is currently 28.42%.

Danaher Company 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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