At Insider Monkey, we have reviewed 873 13F files that hedge funds and leading investors are required to file by the SEC. The 13F documents show the portfolio positions of funds and investors as of June 30. In this article, we take a look at what these funds think of Danaher Corporation (NYSE: DHR) based on this data.
Danaher Corporation (NYSE: DHR) was listed in 78 hedge fund portfolios at the end of the second quarter of 2021. The all-time high for this statistic is 81. Investors in DHR should be aware of the declining support for silver more elite of the world. managers lately. There were 81 hedge funds in our database with DHR positions at the end of the first quarter. Our calculations also showed that DHR is not among the top 30 most popular stocks among hedge funds (click for Q2 rank).
In the financial world, there are a number of tools available to investors for valuing stocks. A pair of the lesser-known tools are the hedge fund and insider trading indicators. We have shown that historically those who follow the best picks of the best fund managers can outperform larger indices by a solid amount. Insider Monkey’s monthly stock picks have returned 185.4% since March 2017 and have outperformed S&P 500 ETFs by more than 79 percentage points (see details here). This is why we believe hedge fund sentiment is a useful indicator that investors should pay attention to.
Ken Fisher of Fisher Asset Management
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Do hedge funds think DHR is a good stock to buy now?
Heading into the third quarter of 2021, a total of 78 of the hedge funds tracked by Insider Monkey were bullish on this stock, a -4% change from the previous quarter. The graph below shows the number of hedge funds with a bullish position in DHR over the past 24 quarters. So let’s take a look at which hedge funds were among the top stock holders and which hedge funds were making big moves.
Specifically, Fisher Asset Management was the largest shareholder in Danaher Corporation (NYSE: DHR), with a stake worth $ 892.2 million reported at the end of June. Trailing Fisher Asset Management was Third Point, which raised a stake valued at $ 768.9 million. D1 Capital Partners, Akre Capital Management and Impax Asset Management were also very attached to the stock, becoming one of the largest hedge fund holders in the company. In terms of the portfolio weights assigned to each position, Intermede Investment Partners assigned the largest weight to Danaher Corporation (NYSE: DHR), approximately 5.66% of its 13F portfolio. Columbus Point is also relatively very bullish on the stock, setting aside 5.05% of its 13F stock portfolio at DHR.
Since Danaher Corporation (NYSE: DHR) has seen a decline in interest from the entire hedge fund industry, we can see that a specific group of fund managers have chosen to cut the entire hedge fund industry. its holdings in the last quarter. At the top of the rankings, Two Sigma advisers John Overdeck and David Siegel made the largest investment of the 750 funds monitored by Insider Monkey, valued at around $ 67.4 million in stocks. Simon Sadler’s fund, Segantii Capital, also abandoned its shares, valued at around $ 14.8 million. These moves are intriguing to say the least, as overall hedge fund interest was reduced by 3 funds in the last quarter.
Let’s also take a look at hedge fund activity in other stocks – not necessarily in the same industry as Danaher Corporation (NYSE: DHR) but of similar value. We’ll be looking at Wells Fargo & Company (NYSE: WFC), Accenture Plc (NYSE: ACN), BHP Group (NYSE: BHP), Shopify Inc (NYSE: SHOP), United Parcel Service, Inc. (NYSE: UPS), T- Mobile US, Inc. (NASDAQ: TMUS) and Texas Instruments Incorporated (NASDAQ: TXN). The market capitalizations of this group of shares correspond to the market capitalization of DHR.
[table] Ticker, number of HF with positions, total value of HF positions (x1000), change of position HF WFC, 94.7083950, -2 ACN, 52.3151789.4 BHP, 18.752906.0 SHOP, 85.13978469, – 6 UPS, 52.2188804.8 TMUS, 100.8020682.2 TXN, 50.2468540.8 Medium 184.108.40.20677877.2 [/table]
Check the table here if you have formatting issues.
As you can see, these stocks had an average of 64.4 hedge funds with bullish positions and the average amount invested in these stocks was $ 5,378 million. That figure was $ 6,415 million in the case of DHR. T-Mobile US, Inc. (NASDAQ: TMUS) is the most popular stock in this table. On the other hand, BHP Group (NYSE: BHP) is the least popular with only 18 bullish hedge fund positions. Danaher Corporation (NYSE: DHR) isn’t the most popular stock in this group, but hedge fund interest is still above average. Our overall hedge fund sentiment score for DHR is 67.5. Stocks with a higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. Our calculations showed that the 5 most popular stocks among hedge funds returned 95.8% in 2019 and 2020 and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 24.1% in 2021 through September 20 and have consistently beaten the market by 6.9 percentage points. Hedge funds were also right to bet on DHR, as the stock has returned 20.8% since the end of the second quarter (through 9/20) and has outperformed the market. Hedge funds have been rewarded for their relative optimism.
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Disclosure: none. This article originally appeared on Insider Monkey.