Coastal Bridge Advisors LLC Takes $4.29 Million Position in Danaher Corporation $DHR

Coastal Bridge Advisors LLC bought a new position in Danaher Corporation (NYSE:DHR) during the 2nd quarter, Holdings Channel reports. The fund bought 5,958 shares of the conglomerate’s stock, valued at approximately $4,290,000.

A number of other hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Danaher during the 2nd quarter valued at approximately $10,492,520,000. Norges Bank purchased a new stake in shares of Danaher during the 4th quarter worth approximately $2,177,106,000. Jupiter Topco LLC purchased a new stake in shares of Danaher during the 2nd quarter worth approximately $1,456,317,000. Generation Investment Management LLP bought a new position in shares of Danaher during the 2nd quarter valued at approximately $1,287,949,000. Finally, Bank of America Corp DE bought a new position in shares of Danaher during the 2nd quarter valued at approximately $993,846,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Danaher Stock Performance

NYSE DHR opened at $215.74 on Friday. The business’s 50 day moving average price is $198.69 and its 200-day moving average price is $192.35. Danaher Corporation has a fifty-two week low of $160.93 and a fifty-two week high of $242.80. The company has a market cap of $151.67 billion, a P/E ratio of 38.32, a P/E/G 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 (NYSE:DHR) last issued its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.09. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. Danaher had a return on equity of 11.04% and a net margin of 15.95%.Danaher’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share. Sell-side analysts predict that Danaher Corporation will post 8.53 earnings per share for the current year.

Analysts Set New Price Targets

DHR has been the topic of several research reports. DZ Bank initiated coverage on shares of Danaher in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $210.00 price target on the stock. Royal Bank Of Canada increased their price objective on shares of Danaher from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. Wolfe Research cut shares of Danaher from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 1st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $240.00 target price on shares of Danaher in a report on Wednesday, July 22nd. Finally, Evercore restated an “outperform” rating and set a $230.00 target price on shares of Danaher in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Danaher has a consensus rating of “Moderate Buy” and a consensus price target of $228.91.

About Danaher

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.