QRG Capital Management Inc. Raises Stock Holdings in Danaher Corporation $DHR

by · The Markets Daily

QRG Capital Management Inc. lifted its holdings in shares of Danaher Corporation (NYSE:DHR – Free Report) by 194.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 175,542 shares of the conglomerate’s stock after acquiring an additional 115,833 shares during the period. QRG Capital Management Inc.’s holdings in Danaher were worth $33,437,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. grew its stake in shares of Danaher by 224.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 93,098 shares of the conglomerate’s stock valued at $17,733,000 after purchasing an additional 64,373 shares during the last quarter. Andra AP fonden lifted its holdings in shares of Danaher by 9.1% during the second quarter. Andra AP fonden now owns 83,642 shares of the conglomerate’s stock worth $15,932,000 after purchasing an additional 7,000 shares during the period. Security National Bank of Sioux City Iowa IA grew its position in Danaher by 27.2% in the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 11,037 shares of the conglomerate’s stock valued at $2,102,000 after buying an additional 2,360 shares during the last quarter. Wellington Altus USA Inc. increased its stake in Danaher by 45.6% in the 2nd quarter. Wellington Altus USA Inc. now owns 198 shares of the conglomerate’s stock valued at $38,000 after buying an additional 62 shares during the period. Finally, Reynders McVeigh Capital Management LLC increased its stake in Danaher by 0.5% in the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 212,366 shares of the conglomerate’s stock valued at $40,451,000 after buying an additional 1,058 shares during the period. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Danaher Price Performance

Shares of DHR stock traded up $0.71 during midday trading on Wednesday, reaching $221.80. 3,166,569 shares of the company traded hands, compared to its average volume of 4,460,147. The firm’s 50 day simple moving average is $204.84 and its two-hundred day simple moving average is $192.15. The firm has a market cap of $155.92 billion, a PE ratio of 39.40, 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 – Get Free Report) last released its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.09. The business had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.12 billion. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 EPS. On average, equities research analysts expect that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Danaher Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a $0.40 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. Danaher’s dividend payout ratio (DPR) is currently 28.42%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DHR. Wells Fargo & Company lowered their target price on shares of Danaher from $212.00 to $195.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 22nd. Stifel Nicolaus reduced their price objective on shares of Danaher from $260.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. DZ Bank started coverage on Danaher in a report on Wednesday, June 3rd. They issued a “buy” rating and a $210.00 price objective on the stock. Piper Sandler assumed coverage on Danaher in a research report on Thursday, June 11th. They set a “neutral” rating and a $200.00 target price on the stock. Finally, Weiss Ratings raised Danaher from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $229.32.

View Our Latest Research Report on DHR

Danaher Company Profile

(Free Report)

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.

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