Saranac Partners Ltd Takes $7.45 Million Position in Danaher Corporation $DHR

Saranac Partners Ltd bought a new position in shares of Danaher Corporation (NYSE:DHR) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 39,035 shares of the conglomerate’s stock, valued at approximately $7,446,000. Danaher makes up 2.2% of Saranac Partners Ltd’s portfolio, making the stock its 16th largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Solstein Capital LLC purchased a new position in shares of Danaher in the 2nd quarter worth approximately $33,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Danaher in the second quarter worth $21,717,000. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Danaher during the 2nd quarter worth about $784,000. Clarion Wealth Managment Partners LLC acquired a new stake in shares of Danaher during the second quarter worth about $590,000. Finally, Forefront Analytics LLC purchased a new stake in shares of Danaher in the 2nd quarter valued at $389,000. Institutional investors own 79.05% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on DHR shares. Stifel Nicolaus dropped their price objective 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. Piper Sandler began coverage on Danaher in a research note on Thursday, June 11th. They issued a “neutral” rating and a $200.00 price target on the stock. DZ Bank assumed coverage on Danaher in a research report on Wednesday, June 3rd. They set a “buy” rating and a $210.00 price objective for the company. HSBC reduced their price target on shares of Danaher from $270.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, June 3rd. Finally, Weiss Ratings raised Danaher from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $228.91.

Danaher Price Performance

DHR stock opened at $219.42 on Monday. 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 business has a 50 day moving average price of $195.80 and a 200 day moving average price of $192.40. The stock has a market cap of $154.25 billion, a price-to-earnings ratio of 38.97, a PEG ratio of 2.72 and a beta of 0.78. Danaher Corporation has a fifty-two week low of $160.93 and a fifty-two week high of $242.80.

Danaher (NYSE:DHR) last announced 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 analysts’ expectations of $6.12 billion. Danaher had a net margin of 15.95% and a return on equity of 11.04%. Danaher’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.77 earnings per share. Equities research analysts anticipate that Danaher Corporation will post 8.53 earnings per share for the current fiscal 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.