5 Medical Technology Stocks to Buy

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1. Danaher Corporation (NYSE: DHR)

Number of Hedge Fund Holders: 81

Topping the list of the 10 medical technology stocks to buy is Danaher Corporation (NYSE: DHR). The Washington-based healthcare company offers a variety of products and services in life sciences, diagnostics, and environmental and applied solutions segments. The company offers automation systems in diagnostics, research instruments and consumables, and software.

On July 16th, Benchmark analyst Robert Wasserman initiated coverage of Danaher Corporation (NYSE: DHR) a Buy rating and $330 price target, commenting that the company has benefited from the pandemic with a high demand for COVID-19-related diagnostic products and systems. 

Danaher (NYSE: DHR) announced in June that it had inked a definitive deal to buy Aldevron, a privately held biotech firm in the United States, for $9.6 billion in cash. Shares of Danaher (NYSE: DHR) increased 6% in the previous month. 

The company has a market cap of $202 billion. In the second quarter of 2021, Danaher Corporation (NYSE: DHR) had an EPS of $2.46, beating estimates by $0.41. The company’s revenue in the second quarter came in at $7.2 billion, an increase of 36.5% year over year. In the April quarter, Danaher (NYSE: DHR) declared a $0.21 per share quarterly dividend, in line with the previous. The stock has gained 45% in the last twelve months. Shares of Danaher Corporation (NYSE: DHR) also increased 30% year to date. 

Out of the hedge funds being tracked by Insider Monkey, Connecticut-based investment firm Bourgeon Capital is a leading shareholder in Danaher Corporation (NYSE: DHR) with 52,617 shares worth more than $14.1 million. 

You can also take a peek at the 10 Stocks with Over 10 Years of Dividend Increases and 10 Best Large Cap Dividend Stocks to Buy Now.

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