Sumitomo Life Insurance Co. Acquires Shares of 6,590 Danaher Corporation $DHR

Sumitomo Life Insurance Co. bought a new stake in Danaher Corporation (NYSE:DHR) during the 2nd quarter, HoldingsChannel reports. The fund bought 6,590 shares of the conglomerate’s stock, valued at approximately $1,255,000.

Other institutional investors have also recently made changes to their positions in the company. High Note Wealth LLC boosted its stake in shares of Danaher by 19.2% during the 4th quarter. High Note Wealth LLC now owns 292 shares of the conglomerate’s stock worth $67,000 after purchasing an additional 47 shares during the period. First Command Advisory Services Inc. raised its position in Danaher by 4.4% in the 4th quarter. First Command Advisory Services Inc. now owns 1,104 shares of the conglomerate’s stock worth $253,000 after purchasing an additional 47 shares during the period. GW&K Investment Management LLC lifted its stake in Danaher by 8.4% in the fourth quarter. GW&K Investment Management LLC now owns 605 shares of the conglomerate’s stock worth $138,000 after purchasing an additional 47 shares during the last quarter. Kestra Private Wealth Services LLC lifted its stake in Danaher by 0.3% in the third quarter. Kestra Private Wealth Services LLC now owns 15,421 shares of the conglomerate’s stock worth $3,057,000 after purchasing an additional 48 shares during the last quarter. Finally, SOL Capital Management CO boosted its position in shares of Danaher by 2.7% during the fourth quarter. SOL Capital Management CO now owns 1,879 shares of the conglomerate’s stock valued at $430,000 after buying an additional 50 shares during the period. Institutional investors own 79.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DHR shares. Wall Street Zen downgraded Danaher from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Royal Bank Of Canada boosted their price objective on Danaher from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, July 22nd. HSBC cut their price objective on Danaher from $270.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Citigroup initiated coverage on Danaher in a research note on Tuesday, May 26th. They issued a “buy” rating and a $230.00 target price on the stock. Finally, Wells Fargo & Company decreased their target price on Danaher from $212.00 to $195.00 and set an “equal weight” rating for the company in a research 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $228.91.

Danaher Stock Performance

Shares of NYSE:DHR opened at $219.42 on Friday. The firm’s 50 day simple moving average is $195.80 and its 200-day simple moving average is $192.61. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.65. Danaher Corporation has a one year low of $160.93 and a one year high of $242.80. The firm has a market cap of $154.25 billion, a PE ratio of 38.97, a price-to-earnings-growth ratio of 2.69 and a beta of 0.78.

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, beating analysts’ consensus estimates of $1.85 by $0.09. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the previous year, the business earned $0.77 earnings per share. Danaher’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities analysts predict that Danaher Corporation will post 8.53 EPS for the current year.

Danaher 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.