Varma Mutual Pension Insurance Co Makes New $20.03 Million Investment in Danaher Corporation $DHR

Key Points

• Varma Mutual Pension Insurance Co. initiated a $20.03 million position in Danaher during the second quarter, purchasing 27,820 shares. Institutional investors collectively own 79.05% of the company.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $228.91, although some firms recently downgraded the stock to “Hold” or “Peer Perform.”
• Danaher’s latest quarterly results exceeded expectations, reporting $1.94 in adjusted earnings per share versus estimates of $1.85 and revenue of $6.26 billion, up 5.5% year over year.

Varma Mutual Pension Insurance Co bought a new stake in Danaher Corporation (NYSE:DHR - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 27,820 shares of the conglomerate's stock, valued at approximately $20,032,000.

Several other institutional investors have also modified their holdings of DHR. Northwestern Mutual Wealth Management Co. raised its stake in shares of Danaher by 303.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 248,020 shares of the conglomerate's stock valued at $56,777,000 after purchasing an additional 186,584 shares in the last quarter. Puzo Michael J bought a new position in Danaher in the 2nd quarter valued at about $8,624,000. Legal & General Group Plc grew its position in 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 in the last quarter. Madison Asset Management LLC acquired a new position in Danaher during the 2nd quarter valued at about $85,451,000. Finally, Handelsbanken Fonder AB increased its stake in Danaher by 10.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 289,223 shares of the conglomerate's stock valued at $55,091,000 after buying an additional 28,425 shares during the period. Institutional investors own 79.05% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on DHR shares. Wolfe Research lowered shares of Danaher from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 1st. Wall Street Zen lowered shares of Danaher from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. Royal Bank Of Canada boosted their target price on Danaher from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Wednesday, July 22nd. DZ Bank began coverage on Danaher in a report on Wednesday, June 3rd. They set a "buy" rating and a $210.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $240.00 target price on shares of Danaher in a research report 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 issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $228.91.

Danaher Stock Up 1.6%

Shares of Danaher stock opened at $219.42 on Friday. Danaher Corporation has a 12-month low of $160.93 and a 12-month high of $242.80. The firm has a market capitalization of $154.25 billion, a PE ratio of 38.97, a price-to-earnings-growth ratio of 2.72 and a beta of 0.78. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48. The stock's fifty day moving average is $195.80 and its 200-day moving average is $192.61.

Danaher (NYSE:DHR - Get Free Report) last released 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 business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. Danaher had a return on equity of 11.04% and a net margin of 15.95%.Danaher's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the company posted $0.77 EPS. Equities analysts anticipate that Danaher Corporation will post 8.53 earnings per share for the current year.

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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