Pinnacle West Asset Management Inc. Purchases Shares of 2,380 Danaher Corporation $DHR

Pinnacle West Asset Management Inc. purchased a new position in Danaher Corporation (NYSE:DHR) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 2,380 shares of the conglomerate’s stock, valued at approximately $453,000.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Danaher in the second quarter worth about $10,492,520,000. Norges Bank bought a new position in Danaher during the fourth quarter valued at approximately $2,177,106,000. Generation Investment Management LLP purchased a new position in Danaher during the 2nd quarter valued at approximately $1,287,949,000. Flossbach Von Storch SE bought a new stake in Danaher in the 2nd quarter worth approximately $747,260,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Danaher during the 2nd quarter worth approximately $712,875,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Danaher Stock Up 1.6%

Shares of NYSE DHR opened at $219.42 on Friday. Danaher Corporation has a 1 year low of $160.93 and a 1 year high of $242.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25. The company has a market cap of $154.25 billion, a P/E ratio of 38.97, a PEG ratio of 2.69 and a beta of 0.78. The firm has a 50-day simple moving average of $195.80 and a two-hundred day simple moving average of $192.61.

Danaher (NYSE:DHR) last announced its quarterly earnings data on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, beating the consensus estimate of $1.85 by $0.09. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. Danaher had a return on equity of 11.04% and a net margin of 15.95%.Danaher’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 EPS. Research analysts anticipate that Danaher Corporation will post 8.53 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on DHR. Piper Sandler initiated coverage on Danaher in a research report on Thursday, June 11th. They set a “neutral” rating and a $200.00 target price for the company. Guggenheim reduced 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. Wells Fargo & Company decreased their price target on shares of Danaher from $212.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 22nd. Royal Bank Of Canada increased their price objective on shares of Danaher from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. Finally, Wolfe Research cut shares of Danaher from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Danaher currently has an average 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.