Cornerstone Advisors LLC Makes New Investment in Danaher Corporation $DHR

Cornerstone Advisors LLC bought a new position in shares of Danaher Corporation (NYSE:DHR) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,605 shares of the conglomerate’s stock, valued at approximately $6,196,000.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Danaher in the second quarter worth $10,492,520,000. Norges Bank acquired a new position in Danaher in the 4th quarter valued at $2,177,106,000. Bank of New York Mellon Corp acquired a new position in Danaher in the 2nd quarter valued at $712,875,000. Viking Global Investors LP raised its holdings in Danaher by 543.9% in the 2nd quarter. Viking Global Investors LP now owns 2,907,515 shares of the conglomerate’s stock worth $574,351,000 after acquiring an additional 2,455,994 shares during the period. Finally, Deutsche Bank AG bought a new position in Danaher in the 2nd quarter worth $446,265,000. Institutional investors own 79.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DHR shares. JPMorgan Chase & Co. decreased their price target on shares of Danaher from $275.00 to $245.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. TD Cowen dropped their price objective on Danaher from $240.00 to $236.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Royal Bank Of Canada boosted their price objective on Danaher from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. Argus decreased their target price on Danaher from $265.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, April 24th. Finally, Jefferies Financial Group restated a “buy” rating and set a $245.00 target price on shares of Danaher in a research note on Tuesday, April 21st. One investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $228.91.

Danaher Price Performance

NYSE:DHR opened at $199.62 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25. Danaher Corporation has a one year low of $160.93 and a one year high of $242.80. The company has a fifty day moving average price of $193.74 and a 200 day moving average price of $192.50. The stock has a market cap of $140.33 billion, a P/E ratio of 35.46, a PEG ratio of 2.52 and a beta of 0.78.

Danaher (NYSE:DHR) last posted its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share (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 company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same period last year, the business posted $0.77 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. Analysts anticipate that Danaher Corporation will post 8.53 earnings per share for the current 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.