Palisade Capital Management LP Takes $15.82 Million Position in Danaher Corporation $DHR

Palisade Capital Management LP purchased a new stake in Danaher Corporation (NYSE:DHR) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 21,977 shares of the conglomerate’s stock, valued at approximately $15,824,000.

Other hedge funds also recently made changes to their positions in the company. Main Street Group LTD acquired a new stake in shares of Danaher during the 1st quarter valued at about $25,000. N.E.W. Advisory Services LLC acquired a new position in Danaher in the second quarter worth about $25,000. JPL Wealth Management LLC bought a new position in Danaher during the third quarter worth about $25,000. WFA of San Diego LLC bought a new position in Danaher during the second quarter worth about $26,000. Finally, Hilton Head Capital Partners LLC acquired a new stake in Danaher during the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DHR. Stifel Nicolaus dropped their target price on Danaher from $260.00 to $220.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Royal Bank Of Canada upped their price target on Danaher from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. DZ Bank started coverage on Danaher in a research note on Wednesday, June 3rd. They set a “buy” rating and a $210.00 price objective for the company. Wolfe Research cut shares of Danaher from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $240.00 target price on shares of Danaher in a report on Wednesday, July 22nd. One 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 stock. Based on data from MarketBeat.com, Danaher presently has an average rating of “Moderate Buy” and a consensus target price of $228.91.

Danaher Price Performance

Danaher stock opened at $215.78 on Wednesday. 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 12-month low of $160.93 and a 12-month high of $242.80. The stock has a market cap of $151.69 billion, a price-to-earnings ratio of 38.33, a P/E/G ratio of 2.68 and a beta of 0.78. The business’s 50-day simple moving average is $197.17 and its 200 day simple moving average is $192.36.

Danaher (NYSE:DHR) last issued its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, topping the consensus estimate of $1.85 by $0.09. The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Danaher had a net margin of 15.95% and a return on equity of 11.04%. Danaher’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.77 EPS. As a group, research 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.