Rakuten Investment Management Inc. Makes New Investment in Danaher Corporation $DHR

Rakuten Investment Management Inc. bought a new position in shares of Danaher Corporation (NYSE:DHR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 103,733 shares of the conglomerate’s stock, valued at approximately $19,998,000.

A number of other hedge funds have also modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Danaher in the second quarter worth about $10,492,520,000. Norges Bank purchased a new stake in Danaher during the 4th quarter valued at about $2,177,106,000. Jupiter Topco LLC acquired a new stake in Danaher in the 2nd quarter valued at about $1,456,317,000. Generation Investment Management LLP acquired a new stake in Danaher in the 2nd quarter valued at about $1,287,949,000. Finally, Bank of America Corp DE purchased a new position in Danaher in the 2nd quarter worth approximately $993,846,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DHR. Wolfe Research cut Danaher from an “outperform” rating to a “peer perform” rating in a report on Monday, June 1st. Wells Fargo & Company cut their price target on Danaher from $212.00 to $195.00 and set an “equal weight” rating for the company in a report on Wednesday, July 22nd. Evercore reiterated an “outperform” rating and set a $230.00 price objective on shares of Danaher in a research report on Monday, July 6th. TD Cowen lowered their price objective on Danaher from $240.00 to $236.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $240.00 target price on shares of Danaher in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Danaher has a consensus rating of “Moderate Buy” and a consensus target price of $228.91.

Danaher Stock Performance

Danaher stock opened at $216.41 on Friday. The firm has a 50 day simple moving average of $199.46 and a 200-day simple moving average of $192.52. The stock has a market cap of $152.13 billion, a price-to-earnings ratio of 38.44, a price-to-earnings-growth ratio of 2.69 and a beta of 0.78. 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 Corporation has a 1-year low of $160.93 and a 1-year 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, beating the consensus estimate of $1.85 by $0.09. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the previous year, the company earned $0.77 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, analysts expect 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.