Portfolio Design Labs LLC Buys Shares of 6,796 Danaher Corporation $DHR

Portfolio Design Labs LLC bought a new position in shares of Danaher Corporation (NYSE:DHR) during the second quarter, HoldingsChannel reports. The fund bought 6,796 shares of the conglomerate’s stock, valued at approximately $1,295,000.

Other institutional investors also recently modified their holdings of the company. Reliant Investment Partners LLC bought a new position in shares of Danaher in the 2nd quarter valued at $369,000. Ninepoint Partners LP bought a new stake in Danaher during the 2nd quarter worth $1,542,000. Advisors Capital Management LLC acquired a new position in Danaher in the 2nd quarter worth about $1,877,000. MJP Associates Inc. ADV acquired a new position in Danaher in the 2nd quarter worth about $302,000. Finally, PCM Encore LLC bought a new position in Danaher in the second quarter valued at about $239,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Danaher Price Performance

Shares of NYSE DHR opened at $216.14 on Friday. The firm has a market capitalization of $151.94 billion, a P/E ratio of 38.39, a P/E/G ratio of 2.63 and a beta of 0.78. The firm’s 50-day moving average price is $195.01 and its 200-day moving average price is $192.43. 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 1-year low of $160.93 and a 1-year high of $242.80.

Danaher (NYSE:DHR) last issued its earnings results on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, beating the consensus estimate of $1.85 by $0.09. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same period last year, the business posted $0.77 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities research analysts anticipate that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DHR has been the topic of a number of recent research reports. Piper Sandler initiated coverage on Danaher in a research note on Thursday, June 11th. They set a “neutral” rating and a $200.00 price target on the stock. TD Cowen dropped their price objective on shares of Danaher from $240.00 to $236.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Royal Bank Of Canada lifted their target price on shares of Danaher from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company reduced their target price on shares of Danaher from $212.00 to $195.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 22nd. Finally, Wolfe Research cut shares of Danaher from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Danaher presently has an average rating of “Moderate Buy” and an average price target 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.