Palisade Capital Management LP Makes New Investment in Danaher Corporation $DHR

Palisade Capital Management LP bought a new position in shares of Danaher Corporation (NYSE:DHR) during the second quarter, Holdings Channel.com reports. The fund bought 130,142 shares of the conglomerate’s stock, valued at approximately $24,789,000. Danaher accounts for approximately 1.1% of Palisade Capital Management LP’s portfolio, making the stock its 18th biggest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Main Street Group LTD purchased a new position in Danaher during the 1st quarter worth approximately $25,000. N.E.W. Advisory Services LLC acquired a new position in Danaher during the second quarter worth approximately $25,000. JPL Wealth Management LLC purchased a new stake in Danaher in the third quarter valued at approximately $25,000. WFA of San Diego LLC purchased a new stake in Danaher in the second quarter valued at approximately $26,000. Finally, Hilton Head Capital Partners LLC acquired a new stake in shares of Danaher in the fourth quarter valued at approximately $27,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DHR. Wells Fargo & Company lowered their target price on shares of Danaher from $212.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 22nd. Guggenheim decreased their price target on shares of Danaher from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Weiss Ratings raised shares of Danaher from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 15th. Wolfe Research downgraded shares of Danaher from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 1st. Finally, Citigroup started coverage on shares of Danaher in a research note on Tuesday, May 26th. They issued a “buy” rating and a $230.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $228.91.

Danaher Trading Up 0.3%

Shares of DHR stock opened at $215.78 on Wednesday. The company has a market capitalization of $151.69 billion, a P/E ratio of 38.33, a price-to-earnings-growth ratio of 2.68 and a beta of 0.78. 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 business’s 50 day moving average is $197.17 and its two-hundred day moving average is $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 EPS for the quarter, topping 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 business had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.12 billion. During the same quarter in the prior year, the business earned $0.77 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities analysts forecast that Danaher Corporation will post 8.53 EPS 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.