Corient Private Wealth LP Decreases Stake in Danaher Corporation $DHR

Corient Private Wealth LP lessened its holdings in shares of Danaher Corporation (NYSE:DHR) by 17.1% during the second quarter, HoldingsChannel reports. The fund owned 689,764 shares of the conglomerate’s stock after selling 142,161 shares during the period. Corient Private Wealth LP’s holdings in Danaher were worth $131,388,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Amundi boosted its position in Danaher by 10.4% during the second quarter. Amundi now owns 2,883,536 shares of the conglomerate’s stock worth $549,256,000 after acquiring an additional 272,444 shares during the last quarter. California State Teachers Retirement System raised its holdings in Danaher by 18,856.0% in the second quarter. California State Teachers Retirement System now owns 184,571,691 shares of the conglomerate’s stock valued at $35,157,216,000 after buying an additional 183,598,005 shares during the period. Studio Investment Management LLC grew its stake in Danaher by 3.3% during the second quarter. Studio Investment Management LLC now owns 1,581 shares of the conglomerate’s stock worth $302,000 after buying an additional 51 shares during the period. Washington Trust Advisors Inc. increased its position in shares of Danaher by 453.3% in the second quarter. Washington Trust Advisors Inc. now owns 830 shares of the conglomerate’s stock worth $158,000 after acquiring an additional 680 shares in the last quarter. Finally, Operose Advisors LLC purchased a new position in Danaher in the second quarter valued at about $65,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Wall Street Analysts Forecast Growth

DHR has been the topic of several recent analyst reports. Citigroup initiated coverage on shares of Danaher in a report on Tuesday, May 26th. They issued a “buy” rating and a $230.00 price target on the stock. Evercore restated an “outperform” rating and issued a $230.00 price target on shares of Danaher in a research report on Monday, July 6th. HSBC cut their price target on Danaher from $270.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, June 3rd. Piper Sandler initiated coverage on shares of Danaher in a report on Thursday, June 11th. They issued a “neutral” rating and a $200.00 price objective on the stock. Finally, Wells Fargo & Company lowered their target price on Danaher from $212.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $228.91.

Danaher Price Performance

DHR opened at $200.30 on Friday. 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 stock has a market cap of $140.81 billion, a price-to-earnings ratio of 35.58, a PEG ratio of 2.50 and a beta of 0.78. Danaher Corporation has a 1 year low of $160.93 and a 1 year high of $242.80. The stock has a fifty day moving average price of $202.65 and a 200 day moving average price of $192.08.

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, 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 period last year, the business posted $0.77 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. Analysts forecast that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Danaher Profile

Danaher Corporation (NYSE:DHR) is a global science and technology company that develops products, services and solutions for the life sciences, biotechnology and diagnostics markets. Its businesses support pharmaceutical and biotechnology research, biomanufacturing, clinical laboratories and healthcare providers.

The company’s portfolio includes bioprocessing technologies, laboratory instruments, consumables, reagents and software. Key businesses include Cytiva, which provides biomanufacturing solutions; Beckman Coulter, which supplies laboratory diagnostics and automation systems; Leica Biosystems, which develops pathology products; and IDT, which provides genomic and nucleic acid products.