The Manufacturers Life Insurance Company Acquires New Shares in Danaher Corporation $DHR

The Manufacturers Life Insurance Company bought a new position in shares of Danaher Corporation (NYSE:DHR) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,154,842 shares of the conglomerate’s stock, valued at approximately $410,455,000.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Danaher during the 2nd quarter valued at about $10,492,520,000. Norges Bank bought a new stake in Danaher during the 4th quarter worth approximately $2,177,106,000. Generation Investment Management LLP bought a new stake in Danaher during the 2nd quarter worth approximately $1,287,949,000. Flossbach Von Storch SE acquired a new stake in Danaher during the 2nd quarter worth approximately $747,260,000. Finally, Bank of New York Mellon Corp bought a new position in Danaher in the second quarter valued at approximately $712,875,000. 79.05% of the stock is currently owned by institutional investors.

Danaher Price Performance

Shares of DHR opened at $215.18 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48. Danaher Corporation has a twelve month low of $160.93 and a twelve month high of $242.80. The stock has a market capitalization of $151.27 billion, a P/E ratio of 38.22, a P/E/G ratio of 2.72 and a beta of 0.78. The company has a 50 day moving average of $196.49 and a 200-day moving average of $192.39.

Danaher (NYSE:DHR) last announced its quarterly earnings data on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $6.12 billion. During the same quarter in the previous year, the firm posted $0.77 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities research analysts forecast that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DHR. TD Cowen reduced their price target on shares of Danaher from $240.00 to $236.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. HSBC cut their price objective 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. Weiss Ratings raised shares of Danaher from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, July 15th. Wolfe Research cut Danaher from an “outperform” rating to a “peer perform” rating in a report on Monday, June 1st. Finally, Guggenheim dropped their price target on Danaher from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $228.91.

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.