PDT Partners LLC Acquires New Shares in Danaher Corporation $DHR

PDT Partners LLC 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 3,900 shares of the conglomerate’s stock, valued at approximately $2,808,000.

A number of other institutional investors have also added to or reduced their stakes in DHR. Main Street Group LTD purchased a new position in Danaher during the first quarter valued at approximately $25,000. N.E.W. Advisory Services LLC purchased a new position in shares of Danaher in the 2nd quarter valued at $25,000. JPL Wealth Management LLC bought a new position in shares of Danaher in the 3rd quarter worth $25,000. WFA of San Diego LLC purchased a new stake in shares of Danaher during the 2nd quarter worth $26,000. Finally, Hilton Head Capital Partners LLC bought a new stake in Danaher during the fourth quarter valued at about $27,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Danaher Stock Performance

NYSE:DHR opened at $215.90 on Thursday. The company has a market cap of $151.77 billion, a P/E ratio of 38.35, a P/E/G ratio of 2.69 and a beta of 0.78. Danaher Corporation has a twelve month low of $160.93 and a twelve month high of $242.80. The company’s 50-day moving average price is $197.93 and its 200-day moving average price is $192.36. 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 (NYSE:DHR) last announced its quarterly earnings data on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.09. The company 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 revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.77 EPS. On average, sell-side analysts forecast that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DHR. Wolfe Research downgraded shares of Danaher from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 1st. Piper Sandler started coverage on Danaher in a report on Thursday, June 11th. They issued a “neutral” rating and a $200.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $240.00 target price on shares of Danaher in a report on Wednesday, July 22nd. Wells Fargo & Company reduced their price target on Danaher from $212.00 to $195.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Finally, Evercore reiterated an “outperform” rating and issued a $230.00 price objective on shares of Danaher in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Danaher has an average rating of “Moderate Buy” and a consensus price target of $228.91.

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.