Cibc World Market Inc. Makes New $65.78 Million Investment in Danaher Corporation $DHR

Cibc World Market Inc. bought a new stake in Danaher Corporation (NYSE:DHR) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 91,353 shares of the conglomerate’s stock, valued at approximately $65,778,000.

Several other institutional investors have also modified their holdings of DHR. Meeder Asset Management Inc. purchased a new stake in shares of Danaher in the 2nd quarter valued at approximately $44,000. MidFirst Bank purchased a new stake in shares of Danaher in the 2nd quarter valued at about $46,000. Bell Investment Advisors Inc purchased a new stake in Danaher in the second quarter valued at approximately $47,000. Solstein Capital LLC acquired a new stake in Danaher during the 2nd quarter worth $58,000. Finally, State of Wyoming acquired a new stake in shares of Danaher during the second quarter worth about $74,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Danaher Price Performance

Shares of DHR stock opened at $219.42 on Monday. The firm has a market cap of $154.25 billion, a P/E ratio of 38.97, a P/E/G ratio of 2.72 and a beta of 0.78. Danaher Corporation has a 1-year low of $160.93 and a 1-year high of $242.80. The firm has a fifty day moving average of $195.80 and a two-hundred day moving average of $192.40. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Citigroup assumed coverage on Danaher in a report on Tuesday, May 26th. They set a “buy” rating and a $230.00 price target for the company. Piper Sandler assumed coverage on Danaher in a report on Thursday, June 11th. They issued a “neutral” rating and a $200.00 price target on the stock. Evercore restated an “outperform” rating and set a $230.00 target price on shares of Danaher in a report on Monday, July 6th. Wolfe Research downgraded shares of Danaher from an “outperform” rating to a “peer perform” rating in a report on Monday, June 1st. Finally, Wells Fargo & Company cut their price target on shares of Danaher from $212.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Danaher presently has a consensus 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.