Mitsubishi UFJ Asset Management Co. Ltd. Invests $264.01 Million in Danaher Corporation $DHR

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Danaher Corporation (NYSE:DHR) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 366,661 shares of the conglomerate’s stock, valued at approximately $264,011,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DHR. Norges Bank acquired a new position in shares of Danaher in the 4th quarter worth approximately $2,177,106,000. Bank of New York Mellon Corp acquired a new stake in Danaher in the 2nd quarter valued at $712,875,000. Viking Global Investors LP boosted its stake in Danaher by 543.9% in the 2nd quarter. Viking Global Investors LP now owns 2,907,515 shares of the conglomerate’s stock valued at $574,351,000 after buying an additional 2,455,994 shares in the last quarter. Wellington Management Group LLP grew its position in Danaher by 11.2% in the fourth quarter. Wellington Management Group LLP now owns 15,076,796 shares of the conglomerate’s stock valued at $3,451,380,000 after acquiring an additional 1,517,904 shares during the period. Finally, Capital International Investors raised its stake in Danaher by 8.9% during the fourth quarter. Capital International Investors now owns 18,246,008 shares of the conglomerate’s stock worth $4,177,386,000 after acquiring an additional 1,487,768 shares in the last quarter. Institutional investors own 79.05% of the company’s stock.

Danaher Price Performance

Danaher stock opened at $202.44 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.65. The firm has a market cap of $142.31 billion, a P/E ratio of 35.96, a P/E/G ratio of 2.52 and a beta of 0.78. The business’s fifty day moving average is $193.52 and its two-hundred day moving average is $192.67. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80.

Danaher (NYSE:DHR) last announced its earnings results on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, topping 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 analysts’ expectations of $6.12 billion. During the same quarter in the prior year, the business earned $0.77 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities research analysts forecast that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on DHR. Royal Bank Of Canada lifted their price objective on Danaher from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, July 22nd. Citigroup started coverage on shares of Danaher in a report on Tuesday, May 26th. They issued a “buy” rating and a $230.00 target price on the stock. TD Cowen dropped their target price on shares of Danaher from $240.00 to $236.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Guggenheim cut their price target on shares of Danaher from $235.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Finally, Piper Sandler assumed coverage on shares of Danaher in a research note on Thursday, June 11th. They set a “neutral” rating and a $200.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.