NewEdge Wealth LLC Purchases Shares of 2,610 Danaher Corporation $DHR

NewEdge Wealth LLC bought a new stake in shares of Danaher Corporation (NYSE:DHR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,610 shares of the conglomerate’s stock, valued at approximately $1,879,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its position in 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 during the last quarter. Legal & General Group Plc boosted its position in shares of Danaher by 1.0% during the fourth 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 period. Handelsbanken Fonder AB grew its position in Danaher by 10.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 289,223 shares of the conglomerate’s stock valued at $55,091,000 after acquiring an additional 28,425 shares during the last quarter. Advisors Capital Management LLC grew its holdings in shares of Danaher by 14.0% in the fourth quarter. Advisors Capital Management LLC now owns 54,845 shares of the conglomerate’s stock worth $12,555,000 after purchasing an additional 6,720 shares during the last quarter. Finally, Swiss Life Asset Management Ltd grew its stake in Danaher by 12.1% in the 4th quarter. Swiss Life Asset Management Ltd now owns 115,335 shares of the conglomerate’s stock worth $26,402,000 after acquiring an additional 12,416 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DHR shares. HSBC dropped their price target on Danaher from $270.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Evercore reaffirmed an “outperform” rating and set a $230.00 price target on shares of Danaher in a research report on Monday, July 6th. TD Cowen decreased their price target on Danaher from $240.00 to $236.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Royal Bank Of Canada lifted their target price on shares of Danaher from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd. Finally, Wall Street Zen lowered Danaher from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $228.91.

Danaher Stock Up 2.2%

Shares of DHR opened at $216.14 on Friday. The company has a market capitalization of $151.94 billion, a price-to-earnings ratio of 38.39, a PEG ratio of 2.63 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 stock’s 50-day moving average price is $195.01 and its 200-day moving average price is $192.43. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48.

Danaher (NYSE:DHR) last posted its earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.09. The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 EPS. On average, sell-side analysts predict that Danaher Corporation will post 8.53 EPS for the current year.

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.