10 Best Industrial Stocks to Buy According to Hedge Funds

02. Danaher Corporation (NYSE:DHR)

Number of Hedge Funds Holders: 98

Danaher Corporation (NYSE:DHR) ranks second on our list of best industrial stocks to buy according to hedge funds. During Q1, 2024 the count of hedge funds holding positions in Danaher Corporation (NYSE:DHR) rose to 98 from 90 in the prior quarter, as reported by Insider Monkey’s database encompassing 920 hedge funds. These holdings collectively amount to around $6.96 billion. Ken Fisher’s Fisher Asset Management emerged as the leading shareholder among these hedge funds during this timeframe.

Danaher Corporation (NYSE:DHR) announced that Executive Vice President Joakim Weidemanis will step down effective July 1, and will assist with the transition until September 30. The company and Weidemanis have a Transition Agreement ensuring he retains his current salary and is eligible for a pro-rated 2024 cash incentive compensation based on his target award. If terminated without cause during the transition, Weidemanis will receive his salary and pro-rated incentive for the entire period. Danaher Corporation (NYSE:DHR) reported strong Q1 results with $5.8 billion in revenue and $1.92 in adjusted diluted EPS, driven by growth in bioprocessing and subsidiary Cepheid. TD Cowen raised the stock target from $280 to $290, maintaining a Buy rating, reflecting confidence in Danaher’s Bioproduction, Diagnostics, and Life Sciences segments. Despite an expected slight revenue decline in 2024, Danaher Corporation (NYSE:DHR) remains optimistic about its long-term outlook.

RGA Investment Advisors stated the following regarding Danaher Corporation (NYSE:DHR) in its first quarter 2024 investor letter:

“In our Q3 2023 commentary, we featured a section on our investment in Danaher Corporation (NYSE:DHR) entitled “Purity in the Crown Jewel of Bioprocessing.” Specifically, we were speaking to Cytiva, Danaher’s bioprocessing business formed by the merger of Pall Corp and GE’s bioprocessing division. We will not repeat the features that attract us to bioprocessing in general, nor the elements of timeliness, though we will emphasize that our confidence in timeliness has actually increased since writing that piece. While Danaher has performed admirably ever since, its peer Sartorius, which was referenced by labeling bioprocessing “an oligopolistic market, with a small number of critical players and extremely high barriers to entry.”