5 Best Healthcare Dividend Stocks to Buy

2. Danaher Corporation (NYSE:DHR)

Number of Hedge Fund Holders: 90

Danaher Corporation (NYSE:DHR) is a Washington-based diversified conglomerate that also manufactures and markets medical products. The company’s diagnostic business uses the most advanced tools and software. SVB Securities initiated its coverage on the stock in May with an Outperform rating and a $300 price target. The firm sees the company as one of the most prominent mega-cap companies in the life science tools universe.

On May 9, Danaher Corporation (NYSE:DHR) declared a quarterly dividend of $0.27 per share, which was consistent with its previous dividend. In 2023, the company stretched its dividend growth streak to nine years, which makes it one of the best dividend stocks on our list. The stock’s dividend yield came in at 0.47%, as of May 23.

At the end of Q1 2023, 90 hedge funds tracked by Insider Monkey reported having stakes in Danaher Corporation (NYSE:DHR), up from 88 in the preceding quarter. These stakes are collectively valued at over $5.6 billion.

Madison Investments mentioned Danaher Corporation (NYSE:DHR) in its Q1 2023 investor letter. Here is what the firm has to say:

“Danaher Corporation (NYSE:DHR) has been trading lower since it reported fourth quarter earnings in January. The company lowered Covid-19 related sales for 2023 from $500 million to $150 million as pharmaceutical companies are switching their focus away from pandemic vaccines and therapeutics to the research and development of new drugs. Danaher’s pharmaceutical customers will be working through existing inventory before starting to order new products. We remain confident in Danaher’s strong competitive position providing innovative products to Life Science companies. Healthcare insurance stocks have been weak due to a ruling by CMS (Center for Medicare & Medicaid Services) in late January where claw back payments totaling $4.7 billion were due from insurers that overcharged Medicare. The claw back payment period goes back to 2011.”