Pinnacle West Asset Management Inc. Takes $453,000 Position in Danaher Corporation $DHR

Pinnacle West Asset Management Inc. acquired a new position in Danaher Corporation (NYSE:DHR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,380 shares of the conglomerate’s stock, valued at approximately $453,000.

A number of other institutional investors also recently bought and sold shares of the stock. Main Street Group LTD bought a new stake in Danaher during the first quarter valued at about $25,000. N.E.W. Advisory Services LLC purchased a new stake in Danaher in the second quarter worth about $25,000. JPL Wealth Management LLC bought a new position in shares of Danaher in the third quarter worth about $25,000. WFA of San Diego LLC purchased a new position in shares of Danaher during the 2nd quarter valued at about $26,000. Finally, Hilton Head Capital Partners LLC purchased a new position in shares of Danaher during the 4th quarter valued at about $27,000. 79.05% of the stock is owned by institutional investors.

Danaher Stock Performance

NYSE DHR opened at $219.42 on Friday. 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 twelve month low of $160.93 and a twelve month high of $242.80. The business has a 50-day moving average price of $195.80 and a 200-day moving average price of $192.61. The firm has a market cap of $154.25 billion, a price-to-earnings ratio of 38.97, a price-to-earnings-growth ratio of 2.69 and a beta of 0.78.

Danaher (NYSE:DHR) last issued its earnings results 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 company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter last year, the company earned $0.77 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts predict that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on DHR shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $240.00 target price on shares of Danaher 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 lowered shares of Danaher from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 1st. Evercore reissued an “outperform” rating and issued a $230.00 price objective on shares of Danaher in a research note on Monday, July 6th. Finally, DZ Bank initiated coverage on shares of Danaher in a research report on Wednesday, June 3rd. They set a “buy” rating and a $210.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.