Stoneridge Investment Partners LLC Acquires New Holdings in Danaher Corporation $DHR

Key Points

• Stoneridge Investment Partners acquired 5,095 Danaher shares worth approximately $993,000 in the second quarter. Institutional investors collectively own 79.05% of the company.
• Danaher reported quarterly EPS of $1.94, beating expectations of $1.85, while revenue rose 5.5% year over year to $6.26 billion.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $228.91, although several firms recently lowered their targets; shares opened at $202.51.

Stoneridge Investment Partners LLC bought a new position in Danaher Corporation (NYSE:DHR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,095 shares of the conglomerate's stock, valued at approximately $993,000.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Danaher in the fourth quarter valued at approximately $2,177,106,000. Viking Global Investors LP lifted its stake in shares of Danaher by 543.9% in the second quarter. Viking Global Investors LP now owns 2,907,515 shares of the conglomerate's stock worth $574,351,000 after buying an additional 2,455,994 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Danaher by 11.2% during the 4th quarter. Wellington Management Group LLP now owns 15,076,796 shares of the conglomerate's stock worth $3,451,380,000 after buying an additional 1,517,904 shares during the period. Capital International Investors boosted its holdings in shares of Danaher by 8.9% during 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 period. Finally, Price T Rowe Associates Inc. MD grew its stake in 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 valued at $3,656,595,000 after buying an additional 1,334,221 shares during the last quarter. Institutional investors own 79.05% of the company's stock.

Danaher Trading Down 0.7%

Shares of DHR stock opened at $202.51 on Friday. The firm has a market capitalization of $142.37 billion, a P/E ratio of 35.97, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78. Danaher Corporation has a 1 year low of $160.93 and a 1 year high of $242.80. The firm's fifty day simple moving average is $193.14 and its 200 day simple moving average is $193.21. 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 issued its quarterly earnings results 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. The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The business's revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS. As a group, sell-side analysts predict that Danaher Corporation will post 8.53 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on DHR. 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. Piper Sandler began coverage on shares of Danaher in a report on Thursday, June 11th. They set a "neutral" rating and a $200.00 price target for the company. Weiss Ratings raised Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, July 15th. Guggenheim dropped 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. Finally, Wells Fargo & Company cut their price objective on Danaher from $212.00 to $195.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 22nd. One equities 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 company's stock. According to MarketBeat.com, the stock presently has a consensus 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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