Danaher Corporation (NYSE:DHR) is one of the top high-conviction stocks to buy according to hedge funds. HSBC cut the price target on Danaher Corporation (NYSE:DHR) to $230 from $270 on June 3 and maintained a Buy rating on the shares. The firm told investors in a research note that market expectations on life science tools “remain bearish”, with allocation tilted towards managed care and therapeutics within healthcare. It added that although the tools sector is priced for disappointment, the firm sees “green shoots of recovery,” notably in bioprocessing and quality assurance. HSBC adjusted target prices to reflect risk-adjusted return expectations, and the firm’s preferred ideas are Waters, IQVIA, and Sartorius.
In a separate development, Wolfe Research downgraded Danaher Corporation to Peer Perform from Outperform on June 1 without assigning a price target after assuming coverage of the name. It stated that growth forward and backward is similar, and Thermo Fisher is “a little cheaper on P/E”. It added that the Masimo (MASI) transaction “confused us about DHR’s identity.”
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services, making it a significant diagnostics stock. It operates through Diagnostics, Biotechnology, Life Sciences, and Environmental and Applied Solutions.
READ NEXT: 15 Stocks That Will Make You Rich in 10 Years AND 12 Best Stocks That Will Always Grow.
Hedge Fund Resource Center