Wellington Management Group LLP Boosts Holdings in Danaher Corporation $DHR

Wellington Management Group LLP lifted its holdings in Danaher Corporation (NYSE:DHR) by 10.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,316,834 shares of the conglomerate’s stock after purchasing an additional 1,542,310 shares during the period. Wellington Management Group LLP’s holdings in Danaher were worth $3,108,031,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Lombard Odier Asset Management Europe Ltd acquired a new stake in Danaher during the 2nd quarter worth approximately $2,308,000. Archer Investment Corp acquired a new position in shares of Danaher in the second quarter worth $3,672,000. Fox Hill Wealth Management acquired a new position in shares of Danaher in the second quarter worth $2,225,000. Kingsview Wealth Management LLC purchased a new stake in shares of Danaher during the second quarter worth $2,222,000. Finally, Beacon Pointe Advisors LLC purchased a new stake in shares of Danaher during the second quarter worth $3,229,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DHR has been the subject of a number of recent research reports. Citigroup started coverage on Danaher in a report on Tuesday, May 26th. They issued a “buy” rating and a $230.00 target price for the company. TD Cowen cut their price target on Danaher from $240.00 to $236.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $240.00 price target on shares of Danaher in a research report on Wednesday, July 22nd. Evercore reiterated an “outperform” rating and issued a $230.00 price objective on shares of Danaher in a research note on Monday, July 6th. Finally, Stifel Nicolaus lowered their price objective on Danaher from $260.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. One 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $228.91.

Danaher Price Performance

Shares of DHR opened at $216.41 on Friday. The firm has a market capitalization of $152.13 billion, a price-to-earnings ratio of 38.44, a PEG ratio of 2.69 and a beta of 0.78. The firm’s fifty day simple moving average is $199.46 and its 200-day simple moving average is $192.52. Danaher Corporation has a twelve month low of $160.93 and a twelve 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.

Danaher (NYSE:DHR) last issued its earnings results on Monday, July 20th. The conglomerate reported $1.94 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 earnings per share. Equities analysts forecast that Danaher Corporation will post 8.53 EPS for the current fiscal 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.