Sumitomo Life Insurance Co. Takes Position in Danaher Corporation $DHR

Sumitomo Life Insurance Co. acquired a new stake in Danaher Corporation (NYSE:DHR) in the second quarter, Holdings Channel reports. The firm acquired 6,404 shares of the conglomerate’s stock, valued at approximately $4,611,000.

Several other large investors have also recently added to or reduced their stakes in the business. Main Street Group LTD purchased a new position in Danaher in the 1st quarter valued at approximately $25,000. N.E.W. Advisory Services LLC acquired a new position in shares of Danaher in the second quarter worth $25,000. JPL Wealth Management LLC purchased a new stake in shares of Danaher during the third quarter worth $25,000. WFA of San Diego LLC purchased a new stake in shares of Danaher during the second quarter worth $26,000. Finally, Hilton Head Capital Partners LLC acquired a new stake in shares of Danaher in the fourth quarter valued at $27,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Danaher Price Performance

Shares of DHR opened at $219.42 on Friday. The firm has a market capitalization of $154.25 billion, a price-to-earnings ratio of 38.97, a PEG ratio of 2.69 and a beta of 0.78. The firm’s fifty day simple moving average is $195.80 and its 200-day simple moving average is $192.61. 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.

Analyst Ratings Changes

A number of research analysts recently issued reports on DHR shares. DZ Bank started coverage on Danaher in a report on Wednesday, June 3rd. They issued a “buy” rating and a $210.00 target price for the company. Piper Sandler assumed coverage on Danaher in a report on Thursday, June 11th. They set a “neutral” rating and a $200.00 price target on the stock. 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. Citigroup began coverage on Danaher in a research note on Tuesday, May 26th. They issued a “buy” rating and a $230.00 price objective for the company. Finally, Argus lowered their price objective on Danaher from $265.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.