Westpac Banking Corp Makes New Investment in Danaher Corporation $DHR

Westpac Banking Corp purchased a new stake in Danaher Corporation (NYSE:DHR) in the second quarter, HoldingsChannel reports. The institutional investor purchased 2,779 shares of the conglomerate’s stock, valued at approximately $2,001,000.

A number of other institutional investors have also modified their holdings of the business. Iyo Bank Ltd. purchased a new position in Danaher during the 2nd quarter worth $3,116,000. TRB Wealth Management LLC acquired a new stake in shares of Danaher during the 2nd quarter valued at approximately $460,000. Sumitomo Life Insurance Co. purchased a new stake in Danaher during the second quarter worth $1,255,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Danaher in the 2nd quarter worth about $545,000. Finally, Korea Investment CORP acquired a new stake in shares of Danaher in the second quarter valued at approximately $79,057,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DHR has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Danaher from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Citigroup started coverage on shares of Danaher in a research report on Tuesday, May 26th. They issued a “buy” rating and a $230.00 price objective for the company. DZ Bank initiated coverage on shares of Danaher in a research note on Wednesday, June 3rd. They set a “buy” rating and a $210.00 price target on the stock. Wells Fargo & Company dropped their price objective on Danaher from $212.00 to $195.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 22nd. Finally, TD Cowen lowered their price target on Danaher from $240.00 to $236.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Danaher currently has an average rating of “Moderate Buy” and a consensus target price of $228.91.

Danaher Stock Performance

Shares of Danaher stock opened at $219.42 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80. The business has a fifty day simple moving average of $195.80 and a 200-day simple moving average of $192.61. The stock has a market cap of $154.25 billion, a PE ratio of 38.97, a price-to-earnings-growth ratio of 2.69 and a beta of 0.78.

Danaher (NYSE:DHR) last issued its earnings results on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.09. The firm 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 quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 earnings per share. On average, sell-side analysts anticipate that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Danaher 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.