Man Group plc Takes $81.55 Million Position in Danaher Corporation $DHR

Man Group plc bought a new position in shares of Danaher Corporation (NYSE:DHR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 428,118 shares of the conglomerate’s stock, valued at approximately $81,548,000. Man Group plc owned about 0.06% of Danaher at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DHR. Meeder Asset Management Inc. purchased a new position in Danaher during the second quarter valued at approximately $44,000. MidFirst Bank purchased a new stake in Danaher in the 2nd quarter worth approximately $46,000. Bell Investment Advisors Inc purchased a new stake in Danaher in the 2nd quarter worth approximately $47,000. Fiduciary Financial Advisors acquired a new stake in shares of Danaher during the 2nd quarter worth approximately $53,000. Finally, Solstein Capital LLC acquired a new stake in shares of Danaher during the 2nd quarter worth approximately $58,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Danaher Stock Up 0.3%

Danaher stock opened at $215.78 on Wednesday. The stock has a market capitalization of $151.69 billion, a PE ratio of 38.33, a price-to-earnings-growth ratio of 2.68 and a beta of 0.78. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80. The business has a 50 day simple moving average of $197.17 and a 200-day simple moving average of $192.36. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25.

Danaher (NYSE:DHR) last announced its earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share 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 the consensus estimate of $6.12 billion. During the same period in the prior year, the company posted $0.77 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. On average, analysts anticipate that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DHR. Stifel Nicolaus cut their target price on shares of Danaher from $260.00 to $220.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Citigroup initiated coverage on shares of Danaher in a report on Tuesday, May 26th. They set a “buy” rating and a $230.00 price target on the stock. Guggenheim dropped their price target on shares of Danaher from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Piper Sandler assumed coverage on shares of Danaher in a report on Thursday, June 11th. They issued a “neutral” rating and a $200.00 price objective for the company. Finally, Royal Bank Of Canada upped their price objective on shares of Danaher from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. One investment 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 company. Based on data from MarketBeat, Danaher has a consensus rating of “Moderate Buy” and an average price target of $228.91.

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.