Clearstead Trust LLC Makes New $3.02 Million Investment in Danaher Corporation $DHR

Clearstead Trust LLC bought a new stake in shares of Danaher Corporation (NYSE:DHR) during the second quarter, HoldingsChannel reports. The institutional investor bought 4,194 shares of the conglomerate’s stock, valued at approximately $3,020,000.

Several other hedge funds also recently modified their holdings of DHR. Northwestern Mutual Wealth Management Co. increased its holdings in Danaher by 303.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 248,020 shares of the conglomerate’s stock valued at $56,777,000 after purchasing an additional 186,584 shares during the last quarter. Legal & General Group Plc lifted its stake in Danaher by 1.0% in the fourth quarter. Legal & General Group Plc now owns 4,495,287 shares of the conglomerate’s stock valued at $1,029,061,000 after buying an additional 43,169 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Danaher by 51.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 271,734 shares of the conglomerate’s stock worth $62,205,000 after buying an additional 92,323 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Danaher by 41.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 168,163 shares of the conglomerate’s stock worth $38,496,000 after buying an additional 49,559 shares during the period. Finally, Advisors Capital Management LLC grew its position in shares of Danaher by 14.0% during the 4th quarter. Advisors Capital Management LLC now owns 54,845 shares of the conglomerate’s stock worth $12,555,000 after buying an additional 6,720 shares during the period. Institutional investors own 79.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DHR. TD Cowen cut their price target on shares of Danaher from $240.00 to $236.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Piper Sandler assumed coverage on shares of Danaher in a report on Thursday, June 11th. They set a “neutral” rating and a $200.00 price objective for the company. Argus lowered their target price on shares of Danaher from $265.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, April 24th. Wolfe Research lowered shares of Danaher from an “outperform” rating to a “peer perform” rating in a report on Monday, June 1st. Finally, 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 report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Danaher currently has an average rating of “Moderate Buy” and an average target price of $228.91.

Danaher Price Performance

Shares of DHR opened at $202.51 on Friday. The stock has a 50 day simple moving average of $193.14 and a 200 day simple moving average of $193.21. Danaher Corporation has a 52-week low of $160.93 and a 52-week high of $242.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.65. The firm has a market capitalization of $142.37 billion, a PE ratio of 35.97, a P/E/G ratio of 2.52 and a beta of 0.78.

Danaher (NYSE:DHR) last announced 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 net margin of 15.95% and a return on equity of 11.04%. The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. During the same period last year, the company posted $0.77 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. Sell-side analysts predict that Danaher Corporation will post 8.53 EPS for the current fiscal year.

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.