Permanens Capital L.P. Makes New Investment in Danaher Corporation $DHR

Permanens Capital L.P. bought a new stake in Danaher Corporation (NYSE:DHR) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 9,994 shares of the conglomerate’s stock, valued at approximately $1,908,000.

Other institutional investors have also modified their holdings of the company. EP Wealth Advisors LLC acquired a new stake in Danaher in the 2nd quarter valued at about $3,807,000. Northwestern Mutual Wealth Management Co. raised its position in Danaher by 303.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 248,020 shares of the conglomerate’s stock worth $56,777,000 after acquiring an additional 186,584 shares during the last quarter. Puzo Michael J acquired a new position in Danaher during the second quarter worth about $8,624,000. Legal & General Group Plc lifted 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 in the last quarter. Finally, Madison Asset Management LLC purchased a new stake in shares of Danaher in the second quarter valued at about $85,451,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Analysts Set New Price Targets

DHR has been the subject of a number of recent research reports. Wolfe Research cut shares of Danaher from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 1st. Weiss Ratings raised Danaher from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 15th. Citigroup began coverage on Danaher in a research report on Tuesday, May 26th. They issued a “buy” rating and a $230.00 price objective on the stock. Stifel Nicolaus decreased their price objective on Danaher from $260.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Finally, Evercore reiterated an “outperform” rating and set a $230.00 price objective on shares of Danaher in a research report on Monday, July 6th. One 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 company. According to MarketBeat, Danaher presently has a consensus rating of “Moderate Buy” and an average price target of $228.91.

Danaher Price Performance

Shares of NYSE:DHR opened at $215.90 on Thursday. The company has a market cap of $151.77 billion, a P/E ratio of 38.35, a P/E/G ratio of 2.69 and a beta of 0.78. The business has a fifty day simple moving average of $197.93 and a 200-day simple moving average of $192.36. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80. 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 (NYSE:DHR) last issued its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $6.12 billion. During the same period last year, the company earned $0.77 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. Equities research analysts forecast that Danaher Corporation will post 8.53 EPS for the current year.

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.