Connor Clark & Lunn Investment Management Ltd. Purchases New Stake in Danaher Corporation $DHR

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Danaher Corporation (NYSE:DHR) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 114,010 shares of the conglomerate’s stock, valued at approximately $21,717,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Meeder Asset Management Inc. purchased a new stake in Danaher in the second quarter worth $44,000. MidFirst Bank purchased a new position in shares of Danaher during the 2nd quarter valued at $46,000. Bell Investment Advisors Inc bought a new position in shares of Danaher during the 2nd quarter worth $47,000. State of Wyoming bought a new position in shares of Danaher during the 2nd quarter worth $74,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in Danaher in the 4th quarter worth about $27,000. Institutional investors own 79.05% of the company’s stock.

Danaher Stock Performance

NYSE:DHR opened at $215.78 on Wednesday. The business’s fifty day moving average is $197.17 and its 200 day moving average is $192.36. The firm has a market cap of $151.69 billion, a price-to-earnings ratio of 38.33, a PEG ratio of 2.68 and a beta of 0.78. 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 Corporation has a 52-week low of $160.93 and a 52-week high of $242.80.

Danaher (NYSE:DHR) last issued its earnings results on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, topping the consensus estimate of $1.85 by $0.09. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter last year, the company earned $0.77 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. Research analysts predict that Danaher Corporation will post 8.53 EPS for the current year.

Wall Street Analysts Forecast Growth

DHR has been the topic of a number of research reports. 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. Wells Fargo & Company cut their target price on shares of Danaher from $212.00 to $195.00 and set an “equal weight” rating for the company 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 issued a “buy” rating and a $210.00 target price for the company. HSBC lowered their price target on shares of Danaher from $270.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Finally, Evercore reaffirmed an “outperform” rating and issued a $230.00 price objective on shares of Danaher in a report on Monday, July 6th. One 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’s stock. Based on data from MarketBeat, Danaher currently has a consensus rating of “Moderate Buy” and a consensus target price 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.