Old North State Trust LLC Takes Position in Danaher Corporation $DHR

Old North State Trust LLC acquired a new position in Danaher Corporation (NYSE:DHR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 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 investment portfolio, making the stock its 16th biggest position.

Several other hedge funds also recently added to or reduced their stakes in DHR. Sivia Capital Partners LLC boosted its holdings in Danaher by 6.3% in the second quarter. Sivia Capital Partners LLC now owns 2,009 shares of the conglomerate’s stock worth $397,000 after acquiring an additional 119 shares in the last quarter. First Trust Advisors LP raised its position in shares of Danaher by 34.5% in the 2nd quarter. First Trust Advisors LP now owns 55,418 shares of the conglomerate’s stock valued at $10,947,000 after purchasing an additional 14,217 shares during the last quarter. Main Street Financial Solutions LLC boosted its stake in Danaher by 40.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,088 shares of the conglomerate’s stock worth $610,000 after purchasing an additional 886 shares in the last quarter. Ieq Capital LLC increased its stake in Danaher by 64.2% during the 2nd quarter. Ieq Capital LLC now owns 75,714 shares of the conglomerate’s stock valued at $14,957,000 after purchasing an additional 29,592 shares in the last quarter. Finally, HUB Investment Partners LLC raised its holdings in shares of Danaher by 30.7% in the second quarter. HUB Investment Partners LLC now owns 1,383 shares of the conglomerate’s stock worth $273,000 after buying an additional 325 shares during the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DHR has been the subject of several research reports. Wolfe Research downgraded shares of Danaher from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 1st. DZ Bank began coverage on Danaher in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $210.00 target price for the company. Stifel Nicolaus dropped their price target on Danaher from $260.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Citigroup began coverage on Danaher in a report on Tuesday, May 26th. They issued a “buy” rating and a $230.00 price objective on the stock. Finally, Guggenheim reduced their price objective on Danaher from $235.00 to $200.00 and set a “buy” rating for the company 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 issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $228.91.

Danaher Stock Performance

Shares of NYSE DHR opened at $215.74 on Friday. The company has a market capitalization of $151.67 billion, a PE ratio of 38.32, a price-to-earnings-growth ratio of 2.68 and a beta of 0.78. 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 company’s fifty day moving average price is $198.69 and its 200 day moving average price is $192.35. Danaher Corporation has a 1 year low of $160.93 and a 1 year high of $242.80.

Danaher (NYSE:DHR) last released its quarterly earnings data on Monday, July 20th. The conglomerate reported $1.94 earnings per share for the quarter, beating 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 company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.12 billion. During the same quarter in the previous year, the company earned $0.77 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, research analysts predict 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.