Patron Partners LLC Purchases New Position in Danaher Corporation $DHR

Patron Partners LLC purchased a new stake in shares of Danaher Corporation (NYSE:DHR) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,705 shares of the conglomerate’s stock, valued at approximately $1,948,000.

Several other institutional investors and hedge funds have also bought and sold shares of DHR. Meeder Asset Management Inc. bought a new position in Danaher in the 2nd quarter worth $44,000. MidFirst Bank bought a new stake in shares of Danaher during the 2nd quarter valued at about $46,000. Bell Investment Advisors Inc bought a new stake in shares of Danaher during the 2nd quarter valued at about $47,000. State of Wyoming purchased a new position in shares of Danaher during the second quarter valued at about $74,000. Finally, Hilton Head Capital Partners LLC purchased a new position in shares of Danaher during the fourth quarter valued at about $27,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on DHR. Wolfe Research lowered shares of Danaher from an “outperform” rating to a “peer perform” rating in a report on Monday, June 1st. Citigroup initiated coverage on Danaher in a report on Tuesday, May 26th. They set a “buy” rating and a $230.00 target price on the stock. Piper Sandler began coverage on Danaher in a research note on Thursday, June 11th. They issued a “neutral” rating and a $200.00 target price for the company. Evercore restated an “outperform” rating and set a $230.00 price target on shares of Danaher in a research report on Monday, July 6th. Finally, Wall Street Zen cut Danaher from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $228.91.

Danaher Trading Up 1.6%

NYSE:DHR opened at $219.42 on Friday. The firm has a market capitalization of $154.25 billion, a P/E ratio of 38.97, a PEG 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 one year low of $160.93 and a one year high of $242.80. The company’s 50-day simple moving average is $195.80 and its 200 day simple moving average is $192.61.

Danaher (NYSE:DHR) last announced its earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.09. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter last year, the firm earned $0.77 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, analysts forecast that Danaher Corporation will post 8.53 EPS for the current fiscal year.

About Danaher

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.