Principle Wealth Partners LLC Makes New Investment in Danaher Corporation $DHR

Principle Wealth Partners LLC bought a new position in Danaher Corporation (NYSE:DHR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 4,752 shares of the conglomerate’s stock, valued at approximately $905,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Danaher in the fourth quarter worth $2,177,106,000. Bank of New York Mellon Corp bought a new position in Danaher in the second quarter worth $712,875,000. Viking Global Investors LP lifted its position in Danaher by 543.9% during the second quarter. Viking Global Investors LP now owns 2,907,515 shares of the conglomerate’s stock valued at $574,351,000 after buying an additional 2,455,994 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Danaher during the second quarter valued at $295,010,000. Finally, Wellington Management Group LLP boosted its holdings in shares of Danaher by 11.2% during the 4th quarter. Wellington Management Group LLP now owns 15,076,796 shares of the conglomerate’s stock valued at $3,451,380,000 after buying an additional 1,517,904 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Analysts Set New Price Targets

DHR has been the topic of a number of recent research reports. Piper Sandler started coverage on shares of Danaher in a research report on Thursday, June 11th. They issued a “neutral” rating and a $200.00 target price on the stock. Argus dropped their price objective on shares of Danaher from $265.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. JPMorgan Chase & Co. cut their price objective on shares of Danaher from $275.00 to $245.00 and set an “overweight” rating on the stock in a report on Wednesday, April 22nd. Wall Street Zen downgraded shares of Danaher from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, Guggenheim lowered their target price on shares of Danaher from $235.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. One investment 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $228.91.

Danaher Price Performance

Shares of NYSE:DHR opened at $202.44 on Tuesday. The business has a fifty day moving average price of $193.52 and a 200-day moving average price of $192.67. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25. The company has a market capitalization of $142.31 billion, a PE ratio of 35.96, a PEG ratio of 2.52 and a beta of 0.78. Danaher Corporation has a 1-year low of $160.93 and a 1-year high of $242.80.

Danaher (NYSE:DHR) last announced its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) 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 company had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.12 billion. During the same quarter in the previous year, the business posted $0.77 EPS. Danaher’s revenue was up 5.5% compared to the same quarter last year. As a group, equities analysts expect that Danaher Corporation will post 8.53 EPS for the current fiscal year.

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.