5 Best Diversified Stocks To Invest In

In this article, we will take a look at the 5 best diversified stocks to invest in. To explore more about such companies, head over to 12 Best Diversified Stocks To Invest In.

5. Danaher Corporation (NYSE:DHR)

Number of Hedge Fund Holders: 90

Danaher Corporation (NYSE:DHR) is a US-based conglomerate established in 1984 by brothers Steven and Mitchell Rales with headquarters in Washington DC. It is renowned for its diverse range of products covering sectors like life sciences, dental, diagnostics and environmental solutions.

2023 was a challenging year for Danaher Corporation (NYSE:DHR) due to the COVID-19 pandemic which was reflected in the 2023 financial results with a decline of 10% in core revenue but regardless the company still managed to generate $5.1 billion of free cash flow with a net income conversion ratio of over 120% as per stated in the Q4 Earnings Call Transcript of 2023.

Additionally, Danaher Corporation (NYSE:DHR) expects strong growth potential in bioprocessing due to the US Food and Drug Administration approvals granted for biologic and genomic medicines. Cytiva has made significant contributions in innovation in an effort to provide impactful solutions to customers to help them develop therapies from lab to commercial production. These favorable market trends reinforce the conviction that there are significant opportunities and growth potential in the bioprocessing business.

According to Insider Monkey’s database of 933 hedge funds, 90 hedge funds are held by Danaher Corporation (NYSE:DHR) and Ken Fisher’s Fisher Asset Management is the top shareholder in the company with 4.2 million shares valued at $976.2 million.