Saudi Central Bank Buys 21,120 Shares of Danaher Corporation $DHR

Saudi Central Bank lifted its stake in shares of Danaher Corporation (NYSE:DHR) by 90.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,585 shares of the conglomerate’s stock after purchasing an additional 21,120 shares during the quarter. Saudi Central Bank’s holdings in Danaher were worth $8,493,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Danaher during the 2nd quarter worth $10,492,520,000. State Street Corp boosted its stake in shares of Danaher by 1.7% during the fourth quarter. State Street Corp now owns 27,681,334 shares of the conglomerate’s stock valued at $6,345,529,000 after purchasing an additional 472,608 shares in the last quarter. Capital International Investors boosted its stake in shares of Danaher by 8.9% during the fourth quarter. Capital International Investors now owns 18,246,008 shares of the conglomerate’s stock valued at $4,177,386,000 after purchasing an additional 1,487,768 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Danaher by 10.4% during the second quarter. Wellington Management Group LLP now owns 16,316,834 shares of the conglomerate’s stock worth $3,108,031,000 after purchasing an additional 1,542,310 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Danaher by 9.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,973,240 shares of the conglomerate’s stock valued at $3,656,595,000 after buying an additional 1,334,221 shares during the period. Institutional investors own 79.05% of the company’s stock.

Wall Street Analyst Weigh In

DHR has been the subject of a number of research reports. 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. Weiss Ratings raised shares of Danaher from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 15th. Wolfe Research downgraded shares of Danaher from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 1st. Guggenheim cut their price target on shares of Danaher from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $240.00 price objective on shares of Danaher in a research note 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 given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $228.91.

Danaher Stock Performance

NYSE:DHR opened at $207.46 on Friday. 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 fifty-two week low of $160.93 and a fifty-two week high of $242.80. The company has a 50 day simple moving average of $201.74 and a two-hundred day simple moving average of $192.28. The company has a market capitalization of $145.84 billion, a PE ratio of 36.85, a P/E/G ratio of 2.59 and a beta of 0.78.

Danaher (NYSE:DHR) last posted its quarterly earnings data on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, beating 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 analyst estimates of $6.12 billion. During the same period in the prior year, the firm posted $0.77 EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis. 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.