Billionaire Dan Loeb’s Top Stock Picks

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3. Danaher Corporation (NYSE:DHR)

Number of Hedge Fund Holders: 98 

Third Point’s Stake: $542.1 million      

Danaher Corporation (NYSE:DHR) is a Washington-based conglomerate with interests in professional, medical, industrial, and commercial products and services. This company stands out as an exceptional investment opportunity due to the following factors. First, the report for the third quarter of 2024 showed business expansion and stable underlying operations driving positive growth. For instance, revenues increased 3.0% year-over-year to $5.8 billion, and non-GAAP core revenue increased 0.5%. In addition, reported operating cash flow was $1.5 billion, and non-GAAP free cash flow was $1.2 billion, demonstrating strong cash generation and efficient cash utilization. Secondly, Danaher Diagnostics LLC and Danaher Ventures LLC, two subsidiaries of Danaher Corporation, have announced that they have formed an investment partnership with Innovaccer, a leading healthcare artificial intelligence (AI) company, seeking to accelerate the adoption of precision diagnostics both by clinicians and population health teams, facilitating value-based care.

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