Senator Investment Group LP Reduces Stock Position in Danaher Corporation $DHR

Senator Investment Group LP decreased its position in Danaher Corporation (NYSE:DHR) by 21.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 340,881 shares of the conglomerate’s stock after selling 92,435 shares during the period. Danaher makes up about 2.4% of Senator Investment Group LP’s holdings, making the stock its 15th largest holding. Senator Investment Group LP’s holdings in Danaher were worth $64,931,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of DHR. Meeder Asset Management Inc. acquired a new stake in shares of Danaher during the second quarter worth $44,000. MidFirst Bank acquired a new position in Danaher in the second quarter valued at $46,000. Bell Investment Advisors Inc purchased a new position in Danaher during the second quarter worth about $47,000. Fiduciary Financial Advisors acquired a new stake in Danaher in the 2nd quarter worth about $53,000. Finally, Solstein Capital LLC acquired a new stake in Danaher in the 2nd quarter worth about $58,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DHR has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Danaher from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, July 15th. Citigroup assumed coverage on shares of Danaher in a research report on Tuesday, May 26th. They issued a “buy” rating and a $230.00 target price on the stock. Wells Fargo & Company dropped their price target 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. Guggenheim cut their price target on shares of Danaher from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Finally, Piper Sandler started coverage on shares of Danaher in a report on Thursday, June 11th. They issued a “neutral” rating and a $200.00 price target on the stock. One equities research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $228.91.

Danaher Stock Performance

Danaher stock opened at $216.41 on Monday. The company has a market cap of $152.13 billion, a price-to-earnings ratio of 38.44, a price-to-earnings-growth ratio of 2.69 and a beta of 0.78. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25. The stock’s 50-day moving average is $199.46 and its 200-day moving average is $192.35.

Danaher (NYSE:DHR) last posted its 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 firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. Equities analysts anticipate that Danaher Corporation will post 8.53 earnings per share for the current 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.