Westpac Banking Corp Makes New $1.33 Million Investment in Danaher Corporation $DHR

Westpac Banking Corp purchased a new stake in Danaher Corporation (NYSE:DHR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,981 shares of the conglomerate’s stock, valued at approximately $1,330,000.

Several other institutional investors and hedge funds also recently modified their holdings of DHR. Main Street Group LTD acquired a new stake in Danaher in the 1st quarter valued at approximately $25,000. N.E.W. Advisory Services LLC acquired a new position in Danaher during the 2nd quarter worth approximately $25,000. JPL Wealth Management LLC acquired a new position in Danaher during the 3rd quarter worth approximately $25,000. WFA of San Diego LLC bought a new position in shares of Danaher during the 2nd quarter worth approximately $26,000. Finally, Hilton Head Capital Partners LLC bought a new position in shares of Danaher during the 4th quarter worth approximately $27,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Danaher Trading Up 1.6%

NYSE DHR opened at $219.42 on Friday. The company has a market cap of $154.25 billion, a PE ratio of 38.97, a PEG ratio of 2.72 and a beta of 0.78. 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 Corporation has a 12 month low of $160.93 and a 12 month high of $242.80. The stock has a 50 day moving average of $195.80 and a 200-day moving average of $192.61.

Danaher (NYSE:DHR) last issued its earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share 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 the consensus estimate of $6.12 billion. During the same period 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, equities research analysts anticipate that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DHR has been the topic of a number of research reports. Weiss Ratings raised shares of Danaher from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 15th. Wolfe Research downgraded shares of Danaher from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 1st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $240.00 price target on shares of Danaher in a research note on Wednesday, July 22nd. TD Cowen cut their price target on shares of Danaher from $240.00 to $236.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company reduced their price objective on shares of Danaher from $212.00 to $195.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 22nd. One equities 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $228.91.

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.