Man Group plc Purchases New Holdings in Danaher Corporation $DHR

Man Group plc acquired a new position in Danaher Corporation (NYSE:DHR) during the 2nd quarter, HoldingsChannel reports. The fund acquired 428,118 shares of the conglomerate’s stock, valued at approximately $81,548,000.

A number of other hedge funds have also made changes to their positions in the company. EP Wealth Advisors LLC acquired a new position in shares of Danaher during the 2nd quarter worth approximately $3,807,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Danaher by 303.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 248,020 shares of the conglomerate’s stock valued at $56,777,000 after purchasing an additional 186,584 shares in the last quarter. Puzo Michael J acquired a new stake in shares of Danaher in the second quarter valued at approximately $8,624,000. Legal & General Group Plc increased its holdings in shares of Danaher by 1.0% in the fourth 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 during the last quarter. Finally, Madison Asset Management LLC purchased a new position in Danaher during the second quarter worth approximately $85,451,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Danaher Stock Performance

NYSE DHR opened at $215.78 on Wednesday. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48. The stock has a market cap of $151.69 billion, a PE ratio of 38.33, a P/E/G ratio of 2.68 and a beta of 0.78. The stock has a fifty day simple moving average of $197.17 and a 200-day simple moving average of $192.36. Danaher Corporation has a twelve month low of $160.93 and a twelve month high of $242.80.

Danaher (NYSE:DHR) last released 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. The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 EPS. Equities analysts anticipate that Danaher Corporation will post 8.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

DHR has been the subject of several analyst reports. HSBC dropped their target price on Danaher from $270.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, June 3rd. Stifel Nicolaus reduced their price target on Danaher from $260.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Piper Sandler assumed coverage on shares of Danaher in a research report on Thursday, June 11th. They set a “neutral” rating and a $200.00 price target on the stock. DZ Bank initiated coverage on shares of Danaher in a report on Wednesday, June 3rd. They issued a “buy” rating and a $210.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $240.00 target price 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 issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock 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.