5 Biggest Gainers on Thursday

2. Danaher Corporation (NYSE:DHR)

Number of Hedge Fund Holders: 82

Shares of Danaher Corporation (NYSE:DHR) turned green before the opening bell today after the company decided to spin off its environmental & applied solutions (EAS) business.

The separation would help Danaher Corporation (NYSE:DHR) better focus on its life sciences and diagnostics segments. The EAS segment primarily specializes in water purification and product identification solutions. Danaher Corporation (NYSE:DHR) expects to complete the spin-off by the end of 2023.

Separately, investment management firm Weitz Investment Management discussed Danaher Corporation (NYSE:DHR) in its second-quarter 2022 investor letter, stating:

“Consistent with that approach, portfolio activity among our long holdings tilted toward purchases. We added to almost half our holdings by varying degrees, and we were pleased to initiate new positions in Danaher (NYSE:DHR). Danaher is a provider of instruments and diagnostic tools to medical, life science, and other desirable end-markets worldwide. The business generate significant free cash flow, possess strong competitive positions, and have excellent management teams with demonstrated acquisition records.”