The Manufacturers Life Insurance Company Purchases Shares of 2,154,842 Danaher Corporation $DHR

Key Points

• The Manufacturers Life Insurance Company acquired 2.15 million Danaher shares worth approximately $410.5 million, representing about 0.31% of the company. Institutional investors collectively own 79.05% of Danaher.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $228.91. Recent targets range from $210 to $236.
• Danaher exceeded quarterly expectations, reporting $1.94 in earnings per share versus $1.85 expected and $6.26 billion in revenue, up 5.5% year over year. Shares opened at $215.18, while the stock’s 52-week range is $160.93 to $242.80.

The Manufacturers Life Insurance Company acquired a new position in shares of Danaher Corporation (NYSE:DHR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,154,842 shares of the conglomerate's stock, valued at approximately $410,455,000. The Manufacturers Life Insurance Company owned approximately 0.31% of Danaher at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Danaher during the 2nd quarter worth approximately $10,492,520,000. Norges Bank bought a new position in Danaher in the 4th quarter valued at $2,177,106,000. Generation Investment Management LLP acquired a new position in Danaher in the second quarter worth $1,287,949,000. Flossbach Von Storch SE bought a new stake in shares of Danaher during the second quarter worth $747,260,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Danaher during the second quarter worth $712,875,000. Institutional investors own 79.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DHR. Weiss Ratings upgraded Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, July 15th. TD Cowen reduced their target price 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. DZ Bank started coverage on shares of Danaher in a research note on Wednesday, June 3rd. They set a "buy" rating and a $210.00 price target on the stock. Royal Bank Of Canada boosted their price objective 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. Finally, Citigroup assumed coverage on Danaher in a research note on Tuesday, May 26th. They issued a "buy" rating and a $230.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Danaher has a consensus rating of "Moderate Buy" and an average price target of $228.91.

Danaher Price Performance

DHR opened at $215.18 on Tuesday. The company has a fifty day moving average price of $196.49 and a two-hundred day moving average price of $192.39. The firm has a market capitalization of $151.27 billion, a PE ratio of 38.22, a P/E/G ratio of 2.72 and a beta of 0.78. 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.

Danaher (NYSE:DHR - Get Free Report) last posted 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. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter in the prior year, the business posted $0.77 EPS. The firm's quarterly revenue was up 5.5% on a year-over-year basis. As a group, 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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