Old North State Trust LLC Purchases New Shares in Danaher Corporation $DHR

Old North State Trust LLC purchased a new position in Danaher Corporation (NYSE:DHR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,286 shares of the conglomerate’s stock, valued at approximately $2,366,000. Danaher makes up about 1.2% of Old North State Trust LLC’s portfolio, making the stock its 16th biggest holding.

A number of other large investors also recently added to or reduced their stakes in DHR. Equitable Holdings Inc. purchased a new position in Danaher during the second quarter valued at $3,015,000. Centaurus Financial Inc. purchased a new stake in shares of Danaher during the second quarter worth about $1,641,000. Brasada Capital Management LP acquired a new position in shares of Danaher during the 2nd quarter worth about $1,629,000. FSA Advisors Inc. acquired a new position in shares of Danaher during the 2nd quarter worth about $269,000. Finally, N10 Assets LLC purchased a new position in Danaher in the 2nd quarter valued at about $7,208,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on DHR shares. 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 decreased their price objective on Danaher from $212.00 to $195.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 22nd. Guggenheim dropped their target price on shares of Danaher from $235.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. HSBC reduced their target price on shares of Danaher from $270.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, June 3rd. Finally, Piper Sandler initiated coverage on Danaher in a report on Thursday, June 11th. They issued a “neutral” rating and a $200.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Danaher presently has a consensus rating of “Moderate Buy” and an average target price of $228.91.

Danaher Trading Up 0.2%

Shares of NYSE DHR opened at $215.74 on Friday. 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 stock has a market capitalization of $151.67 billion, a PE ratio of 38.32, a PEG ratio of 2.68 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 stock has a fifty day simple moving average of $198.69 and a 200-day simple moving average of $192.35.

Danaher (NYSE:DHR) last posted its quarterly 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 business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter in the previous year, the firm posted $0.77 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities analysts forecast that Danaher Corporation will post 8.53 earnings per share for the current year.

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.