Primecap Management Co. CA Invests $359.83 Million in Danaher Corporation $DHR

Primecap Management Co. CA acquired a new stake in shares of Danaher Corporation (NYSE:DHR) during the second quarter, HoldingsChannel reports. The fund acquired 1,889,070 shares of the conglomerate’s stock, valued at approximately $359,830,000.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on DHR shares. TD Cowen decreased their target price on shares of Danaher from $240.00 to $236.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Stifel Nicolaus cut their price target on shares of Danaher from $260.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $240.00 price target on shares of Danaher in a research report on Wednesday, July 22nd. DZ Bank began coverage on Danaher in a report on Wednesday, June 3rd. They set a “buy” rating and a $210.00 price objective for the company. Finally, Guggenheim lowered their price objective on Danaher from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $228.91.

Danaher Stock Performance

DHR opened at $215.78 on Wednesday. Danaher Corporation has a 12-month low of $160.93 and a 12-month high of $242.80. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $151.69 billion, a PE ratio of 38.33, a P/E/G ratio of 2.68 and a beta of 0.78. The firm has a 50 day moving average of $197.17 and a two-hundred day moving average of $192.36.

Danaher (NYSE:DHR) last released its quarterly earnings data on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, beating 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 business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. During the same period in the prior year, the firm earned $0.77 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts anticipate that Danaher Corporation will post 8.53 EPS for the current 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.