Man Group plc Buys New Stake in Danaher Corporation $DHR

Man Group plc purchased a new position in shares of Danaher Corporation (NYSE:DHR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 19,415 shares of the conglomerate’s stock, valued at approximately $13,980,000.

Other hedge funds also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC purchased a new position in Danaher in the second quarter valued at about $3,807,000. Northwestern Mutual Wealth Management Co. increased its holdings in Danaher by 303.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 248,020 shares of the conglomerate’s stock worth $56,777,000 after purchasing an additional 186,584 shares during the last quarter. Puzo Michael J acquired a new position in shares of Danaher in the 2nd quarter valued at approximately $8,624,000. Legal & General Group Plc raised its position in shares of Danaher by 1.0% in the 4th quarter. Legal & General Group Plc now owns 4,495,287 shares of the conglomerate’s stock valued at $1,029,061,000 after purchasing an additional 43,169 shares in the last quarter. Finally, Madison Asset Management LLC purchased a new position in shares of Danaher during the 2nd quarter valued at approximately $85,451,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Danaher Trading Up 0.2%

Shares of Danaher stock opened at $215.74 on Friday. The business has a fifty day simple moving average of $198.69 and a 200-day simple moving average of $192.35. The firm has a market cap of $151.67 billion, a price-to-earnings ratio of 38.32, a price-to-earnings-growth ratio of 2.68 and a beta of 0.78. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48. Danaher Corporation has a fifty-two week low of $160.93 and a fifty-two week high of $242.80.

Danaher (NYSE:DHR) last released 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. The business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 earnings per share. On average, equities analysts forecast that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DHR. Royal Bank Of Canada lifted their price target on shares of Danaher from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd. HSBC dropped their target price on shares of Danaher from $270.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, June 3rd. Citigroup began coverage on Danaher in a research report on Tuesday, May 26th. They set a “buy” rating and a $230.00 price target on the stock. Stifel Nicolaus dropped their price objective on shares of Danaher from $260.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Finally, Wolfe Research lowered Danaher from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $228.91.

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.