The Manufacturers Life Insurance Company Invests $70.18 Million in Danaher Corporation $DHR

The Manufacturers Life Insurance Company acquired a new stake in shares of Danaher Corporation (NYSE:DHR) in the second quarter, HoldingsChannel.com reports. The fund acquired 97,461 shares of the conglomerate’s stock, valued at approximately $70,176,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. High Note Wealth LLC lifted its position in Danaher by 19.2% during the fourth quarter. High Note Wealth LLC now owns 292 shares of the conglomerate’s stock valued at $67,000 after purchasing an additional 47 shares in the last quarter. First Command Advisory Services Inc. increased its position in Danaher by 4.4% in the fourth quarter. First Command Advisory Services Inc. now owns 1,104 shares of the conglomerate’s stock worth $253,000 after buying an additional 47 shares in the last quarter. GW&K Investment Management LLC increased its position in Danaher by 8.4% in the fourth quarter. GW&K Investment Management LLC now owns 605 shares of the conglomerate’s stock worth $138,000 after buying an additional 47 shares in the last quarter. Kestra Private Wealth Services LLC raised its stake in shares of Danaher by 0.3% in the third quarter. Kestra Private Wealth Services LLC now owns 15,421 shares of the conglomerate’s stock worth $3,057,000 after buying an additional 48 shares during the period. Finally, SOL Capital Management CO raised its stake in shares of Danaher by 2.7% in the fourth quarter. SOL Capital Management CO now owns 1,879 shares of the conglomerate’s stock worth $430,000 after buying an additional 50 shares during the period. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Danaher Stock Performance

NYSE:DHR opened at $215.78 on Wednesday. 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 Corporation has a 12-month low of $160.93 and a 12-month high of $242.80. The stock has a 50-day moving average price of $197.17 and a 200 day moving average price of $192.36. The stock has a market capitalization of $151.69 billion, a P/E ratio of 38.33, a P/E/G ratio of 2.68 and a beta of 0.78.

Danaher (NYSE:DHR) last posted its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, topping 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 analysts’ expectations of $6.12 billion. During the same period in the previous year, the firm earned $0.77 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. Equities research analysts forecast that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Royal Bank Of Canada boosted their price objective on Danaher from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. Stifel Nicolaus decreased their target price on shares of Danaher from $260.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Wells Fargo & Company lowered their price target on shares of Danaher from $212.00 to $195.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 22nd. Piper Sandler assumed coverage on shares of Danaher in a research report on Thursday, June 11th. They issued a “neutral” rating and a $200.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $240.00 price objective on shares of Danaher in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Danaher presently has an average rating of “Moderate Buy” and an average price target of $228.91.

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.