Palisade Capital Management LP Invests $24.79 Million in Danaher Corporation $DHR

Palisade Capital Management LP purchased a new position in shares of Danaher Corporation (NYSE:DHR) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 130,142 shares of the conglomerate’s stock, valued at approximately $24,789,000. Danaher comprises 1.1% of Palisade Capital Management LP’s portfolio, making the stock its 18th biggest position.

Other hedge funds also recently bought and sold shares of the company. Sivia Capital Partners LLC boosted its stake in Danaher by 6.3% during the second quarter. Sivia Capital Partners LLC now owns 2,009 shares of the conglomerate’s stock worth $397,000 after buying an additional 119 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Danaher by 34.5% in the 2nd quarter. First Trust Advisors LP now owns 55,418 shares of the conglomerate’s stock worth $10,947,000 after acquiring an additional 14,217 shares during the last quarter. Main Street Financial Solutions LLC raised its holdings in shares of Danaher by 40.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,088 shares of the conglomerate’s stock worth $610,000 after acquiring an additional 886 shares during the period. Ieq Capital LLC boosted its position in shares of Danaher by 64.2% during the 2nd quarter. Ieq Capital LLC now owns 75,714 shares of the conglomerate’s stock valued at $14,957,000 after acquiring an additional 29,592 shares during the last quarter. Finally, HUB Investment Partners LLC boosted its position in shares of Danaher by 30.7% during the 2nd quarter. HUB Investment Partners LLC now owns 1,383 shares of the conglomerate’s stock valued at $273,000 after acquiring an additional 325 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Danaher Stock Up 0.3%

Shares of NYSE DHR opened at $215.78 on Wednesday. The business has a 50-day moving average of $197.17 and a two-hundred day moving average of $192.36. The company has a market capitalization of $151.69 billion, a price-to-earnings ratio of 38.33, a price-to-earnings-growth ratio of 2.68 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 company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25.

Danaher (NYSE:DHR) last released its quarterly earnings data on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.09. The business 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%.The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.77 EPS. On average, analysts forecast that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DHR has been the subject of several analyst reports. Wolfe Research lowered Danaher from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 1st. Stifel Nicolaus decreased their price target on Danaher from $260.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Piper Sandler started coverage on Danaher in a report on Thursday, June 11th. They set a “neutral” rating and a $200.00 price target for the company. Weiss Ratings upgraded shares of Danaher from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 15th. Finally, Citigroup began coverage on shares of Danaher in a research note on Tuesday, May 26th. They issued a “buy” rating and a $230.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Danaher has a consensus rating of “Moderate Buy” and an average price target of $228.91.

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.