Should You Now Consider Selling Your Danaher Corp. (DHR) Shares?

Baron Funds, an investment management firm, released its “Baron Durable Advantage Fund” first quarter 2023 investor letter, a copy of which can be downloaded here. The Baron Durable Advantage Fund gained 16.0% during the first quarter, compared favorably to its S&P 500 benchmark which earned a 7.5% return for the same period. Spare some time to check the fund’s top 5 holdings to know more about their top bets for 2023.

In its Q1 2023 investor letter, Baron Durable Advantage Fund mentioned Danaher Corporation (NYSE:DHR) and explained its insights for the company. Founded in 1984, Danaher Corporation (NYSE:DHR) is a Washington, D.C.-based science and technology innovator with a $176.7 billion market capitalization. Danaher Corporation (NYSE:DHR) delivered a -9.66% return since the beginning of the year, while its 12-month returns are down by -1.08%. The stock closed at $238.05 per share on June 12, 2023.

Here is what Baron Durable Advantage Fund has to say about Danaher Corporation (NYSE:DHR) in its Q1 2023 investor letter:

“Danaher Corporation is a life sciences and diagnostics company. For life sciences, Danaher supplies instruments for lab research, genomics services, and bioproduction tools. For the diagnostics business, the company supplies instruments to run clinical tests in large core labs, hospitals, pathology labs, and point of care. Shares declined 4.9% during the first quarter driven by a near-term headwind due to existing inventory reduction by biopharmaceutical customers. This is an industry-wide issue, and we remain positive on Danaher’s long-term growth story. In particular, Danaher has a market-leading position and broad portfolio within bioprocessing, which addresses a biologics market growing by double digits and is positioned to benefit in the medium term from a wave of biosimilars entering the market after key patents expire. Danaher has a collection of high-quality assets, with targets of durable high single-digit core revenue growth and double-digit EPS growth.”

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Our calculations show that Danaher Corporation (NYSE:DHR) ranks 28th on our list of the 30 Most Popular Stocks Among Hedge Funds. Danaher Corporation (NYSE:DHR) was in 90 hedge fund portfolios at the end of the first quarter of 2023, compared to 88 funds in the previous quarter. Danaher Corporation (NYSE:DHR) delivered a -2.07% return in the past 3 months.

On April this year, we also shared another hedge fund’s views on Danaher Corporation (NYSE:DHR) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q1 2023 page.

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