5 Favorite Stocks of Dan Loeb’s Third Point

2. Danaher Corporation (NYSE:DHR)

Third Point’s Stake Value: $954,129,000

Percentage of Third Point’s 13F Portfolio: 6.65%

Number of Hedge Fund Holders: 87

Danaher Corporation (NYSE:DHR) is an American conglomerate that operates via three divisions – Life Sciences, Diagnostics, and Environmental & Applied Solutions. Danaher Corporation (NYSE:DHR) provides professional, medical, industrial, and commercial products and services globally. 

On February 23, Danaher Corporation (NYSE:DHR) declared a $0.25 per share quarterly dividend, a 19% increase from its prior dividend of $0.21. The dividend is payable on April 29, to shareholders of the company as of March 25. 

Danaher Corporation (NYSE:DHR)’s revenue in 2021 increased to $29.4 billion from $22.2 billion in the prior year. The 2021 net income grew 76.44% to $6.4 billion, compared to $3.6 billion in 2020. 

Wells Fargo analyst Dan Leonard maintained an Overweight rating on Danaher Corporation (NYSE:DHR) but lowered the firm’s price target on the shares to $330 from $350 on January 28. The change in price target reflects Leonard’s view that Danaher Corporation (NYSE:DHR)’s core growth algorithm and COVID soft landing are underappreciated.

Among the hedge funds tracked by Insider Monkey, 87 funds held long positions in Danaher Corporation (NYSE:DHR) at the end of Q4 2021, up from 74 funds in the preceding quarter. John Allison’s Unio Capital owned a significant stake in the company, worth approximately $849 million. 

Here is what ClearBridge Sustainability Leaders Strategy has to say about Danaher Corporation (NYSE:DHR) in its Q3 2021 investor letter:

“Diversified health care company Danaher, a top contributor in the second quarter, had a strong third quarter as well, posting a strong beat-and-raise driven by COVID-19 testing, a rebound for in-person activity and no impact from variants/renewed shutdowns.”