Should You Hold Danaher Corporation (DHR)?

Madison Investments, an investment advisor, released its “Madison Sustainable Equity Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. The market delivered a strong performance again in the second quarter with the S&P 500 up 8.7%. Technology stocks contributed more than half of the S&P 500’s return. However, Madison Sustainable Equity Fund lagged behind the S&P 500 in the second quarter. Both sector allocation and stock selection were headwinds. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Madison Sustainable Equity Fund highlighted stocks like Danaher Corporation (NYSE:DHR) in the second quarter 2023 investor letter. Headquartered in Washington, the District of Columbia, Danaher Corporation (NYSE:DHR) designs, manufactures, and markets professional, medical, industrial, and commercial products and services. On July 17, 2023, Danaher Corporation (NYSE:DHR) stock closed at $237.76 per share. One-month return of Danaher Corporation (NYSE:DHR) was 0.49%, and its shares lost 7.03% of their value over the last 52 weeks. Danaher Corporation (NYSE:DHR) has a market capitalization of $175.443 billion.

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

“Danaher Corporation (NYSE:DHR) stock continued to move lower following another earnings downgrade on bioprocessing weakness. The weakness is caused by elevated inventories at large customers and funding issues from emerging biotech customers. We remain confident in Danaher’s strong competitive position providing innovative products to Life Science companies.”

microscope, health

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Danaher Corporation (NYSE:DHR) is in 29th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 90 hedge fund portfolios held Danaher Corporation (NYSE:DHR) at the end of first quarter which was 88 in the previous quarter.

We discussed Danaher Corporation (NYSE:DHR) in another article and shared the list of Dan Loeb’s long-term stock picks. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.