5 Best Scientific Instruments Stocks To Buy

2. Danaher Corporation (NYSE:DHR)

Number of Hedge Fund Holders: 88

Danaher Corporation (NYSE:DHR) is a global company that designs, manufactures, and markets professional, medical, industrial, and commercial products and services. The Biotechnology segment provides bioprocess technologies, consumables, and services, lab filtration, separation, and purification, protein purification and analytical tools, reagents, membranes, and services, and healthcare filtration solutions. The company’s Life Sciences segment offers mass spectrometers, flow cytometry, genomics, lab automation, centrifugation, particle counting and characterization, microscopes, and genomics consumables. It is one of the best scientific instruments stocks to watch. 

On April 25, Danaher Corporation (NYSE:DHR) reported a Q1 non-GAAP EPS of $2.36 and a revenue of $7.2 billion, outperforming Wall Street estimates by $0.10 and $140 million, respectively. The company expects mid-single digits year-over-year growth in non-GAAP base business core revenue for both the second quarter and full year 2023.

Puneet Souda, an analyst from SVB Securities, initiated coverage of Danaher Corporation (NYSE:DHR) with an Outperform rating and a price target of $300 on May 1. The analyst believes that Danaher is the most significant mega-cap long among the life science tools universe for 2023-2024, with its guide fully reset on the bioprocess tools market, which offers attractive, recurring revenues. 

According to Insider Monkey’s fourth quarter database, 88 hedge funds were bullish on Danaher Corporation (NYSE:DHR), compared to 89 funds in the prior quarter. Dan Loeb’s Third Point is the biggest stakeholder of the company, with 2.70 million shares worth $716.6 million. 

Madison Sustainable Equity Fund made the following comment about Danaher Corporation (NYSE:DHR) in its Q1 2023 investor letter:

“Danaher Corporation (NYSE:DHR) has been trading lower since it reported fourth quarter earnings in January. The company lowered Covid-19 related sales for 2023 from $500 million to $150 million as pharmaceutical companies are switching their focus away from pandemic vaccines and therapeutics to the research and development of new drugs. Danaher’s pharmaceutical customers will be working through existing inventory before starting to order new products. We remain confident in Danaher’s strong competitive position providing innovative products to Life Science companies. Healthcare insurance stocks have been weak due to a ruling by CMS (Center for Medicare & Medicaid Services) in late January where claw back payments totaling $4.7 billion were due from insurers that overcharged Medicare. The claw back payment period goes back to 2011.”