What smart money is saying about Danaher Corporation
6 funds in our archive have pitched Danaher Corporation, most recently TAMIM Fund Global High Conviction in July 2026.
Danaher Corporation is a diversified global technology and science company that specializes in developing, manufacturing, and distributing a wide array of professional, medical, industrial, and commercial products and services across the world. The organization is structured into three primary operating segments: Life Sciences, Diagnostics, and Environmental & Applied Solutions. Within the Life Sciences segment, Danaher provides advanced instrumentation and solutions crucial for scientific research and development. This encompasses equipment like mass spectrometers, flow cytometry, genomics, lab automation, centrifugation, particle counting and characterization tools, and microscopes, alongside genomics consumables and technologies vital for Gene and Cell Therapy. Additionally, it delivers bioprocess technologies, consumables, and related services, as well as sophisticated filtration, separation, and purification systems. Its diverse clientele includes pharmaceutical, biopharmaceutical, food and beverage, medical, and life sciences companies, in addition to universities, medical schools, research institutions, and various industrial manufacturers. The Diagnostics segment is dedicated to furnishing essential tools for healthcare. Its offerings range from comprehensive systems for chemistry, immunoassay, microbiology, and automation to products for hematology, molecular, acute care, and pathology diagnostics. This segment equips hospitals, physicians' offices, reference laboratories, and other critical care settings with clinical instruments, reagents, consumables, software, and support services for accurate patient diagnosis and management. The Environmental & Applied Solutions segment addresses a broad spectrum of industrial and resource management requirements. It supplies instrumentation, consumables, software, services, and disinfection systems critical for the analysis, treatment, and management of various water types—including ultra-pure, potable, industrial, waste, ground, source, and ocean water—across residential, commercial, industrial, and natural resource applications. Furthermore, this segment delivers instruments, software, services, and consumables tailored for color and appearance management, packaging design and quality assurance, packaging converting, printing, marking, coding, and traceability applications for consumer, pharmaceutical, and industrial products. Established in 1969, the company was initially known as Diversified Mortgage Investors, Inc., before officially rebranding as Danaher Corporation in 1984. Its corporate headquarters are located in Washington, D.C.
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Fund signal · last 12 months
39 lettersMore funds are buying than selling
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q4 2024 and Q4 2026, 41 fund letters reported a position in Danaher Corporation, with 12 buys (opened or added) and 4 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q4 2026 | 1 | 0 | 0 | 0 |
| Q3 2026 | 18 | 5 | 0 | 1 |
| Q2 2026 | 15 | 5 | 4 | 2 |
| Q1 2026 | 2 | 1 | 0 | 1 |
| Q4 2025 | 3 | 0 | 0 | 1 |
| Q2 2025 | 1 | 1 | 0 | 1 |
| Q4 2024 | 1 | 0 | 0 | 0 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 41 positions · 17 moves
- October 2026
“Shifting views on artificial intelligence (AI) influenced both the main contributors to and the main detractors from portfolio returns this quarter, as discussed below.. Several of our software holdings rebounded as investors moved away from worst-case assumptions about the impact of AI and began to recognise the benefits it could bring. Hyperscalers such as Amazon and Microsoft started to demonstrate real demand for their products. At the same time, concerns about a potential slowdown in AI development and spending weighed on related companies, particularly those priced highly for continued acceleration in both. The quarter showed how quickly AI sentiment can swing, and why each company's individual positioning matters. Microsoft was a key contributor, with its results showing that AI can be a clear benefit rather than a threat. Demand for its cloud capacity and enterprise products gave investors tangible evidence that AI investment can turn into revenue. Business management software company Workday’s results beat expectations: AI-related annual recurring revenue rose from $150 million to more than $600 million in a year, and customer retention remains high at 97%, suggesting AI is adding to its revenue rather than destroying it. Elsewhere, Danaher contributed despite mixed results.”
Danaher Corporation - New positionClearBridge Investments Value StrategySeptember 2026
“In addition to the transactions discussed above, we initiated a new position in Danaher in the health care sector.”
Danaher Corporation - HoldsFindlay Park American FundSeptember 2026
“Performance was disappointing, and in our newsletter we highlighted several positive changes we are making, particularly with respect to technology, in the face of challenging recent performance. Microsoft was the largest positive contributor. Agilent, Waters and Danaher also contributed, supported by continued strength in organic revenue growth.”
Danaher Corporation - September 2026
“Improved biotech funding also benefited our life sciences holdings, such as Danaher (DHR).”
Danaher Corporation - September 2026
“Thermo Fisher Volumes are turning, and AI companies could become new customers At Morgan Stanley's 24th Annual Global Healthcare Conference on 15 September, the picture was strengthened that Thermo Fisher's underlying markets are on their way to recovering, which in practice means rising volumes. For a company like Thermo Fisher, higher volumes usually give clear operating leverage in earnings. Over the past 25 years, operating profit has grown about 4 percentage points faster than revenue per year (median). In addition to the cyclical recovery, a new customer group is emerging. Large investments are being made in automated laboratories and AI-based drug discovery, backed by technology companies, AI players and well- funded investors. This broadens the customer base to players with considerably greater financial resources than the traditional research market. Thermo Fisher is well positioned for this development. AI can generate hypotheses, but the results still have to be tested physically, and automated laboratories increase the need for instruments, analyses and consumables. Regardless of who drives the development, the business rests on the same underlying infrastructure. As the market's broadest supplier, Thermo Fisher has both the scale and the customer relationships to benefit from increased investment activity. Danaher, which is also held by the fund, has exposure to the same driver.”
Danaher Corporation - September 2026
Listed in Platinium AM Platinum Asia Fund’s reported holdings.
Danaher Corporation - September 2026
“We also initiated a position in Boston Scientific (BSX) and added to Danaher (DHR), partially offsetting the decrease.”
Danaher Corporation - September 2026
Listed in Harding Loevner Global Developed Markets Equity’s reported holdings.
Danaher Corporation - September 2026
“Danaher is a global science and technology company operating in the biotechnology, life sciences and diagnostics sectors. We established a position in the company after they reported improving trends in most of their end markets.”
Danaher Corporation - New positionNuance Investments Concentrated Value StrategySeptember 2026
“Danaher Corporation (DHR): DHR is a leading life science tools and diagnostics conglomerate selling advanced tools, equipment, and associated service and consumables for use in life science research, drug development, clinical diagnostics, and other applied markets. After a period of underperformance, we have initiated a new position in the stock as the risk reward is significantly better than the market risk reward.”
Danaher Corporation - September 2026
“A trio of health care and life sciences firms (Danaher, Labcorp and Repligen) generated strong contributions, thanks to solid operating results and improving investor sentiment in the space.”
Danaher Corporation - September 2026
“In life sciences, both Thermo Fisher and Danaher generated strong contributions, thanks to solid operating results and improving investor sentiment in the space.”
Danaher Corporation - September 2026
“Life science bellwethers Thermo Fisher Scientific and Danaher helped pace the Fund’s strong quarterly returns. Investor sentiment improved alongside solid company results and brightening organic growth outlooks. Valuations are not stretched, in our view, and we still hold large positions in both stocks.”
Danaher Corporation - September 2026
“Notable 3Q Contributors Thermo Fisher Scientific, Danaher, and LabCorp finished among the top quarterly contributors, as the Fund’s health care stocks delivered very strong returns.”
Danaher Corporation - HoldsHennessy Focus FundSeptember 2026
Listed in Hennessy Focus Fund’s reported holdings.
Danaher Corporation - September 2026
“Danaher continued to show steady recovery in its bioprocessing and diagnostics businesses; subsequent to quarter end, the company reported core revenue growth excluding respiratory products of 5.5% and raised its full-year earnings guidance.”
Danaher Corporation - September 2026
“Improved biotech funding also benefited our life sciences holdings, such as Danaher (DHR).”
Danaher Corporation - July 2026
“Danaher Corporation (NYSE: DHR) Danaher (NYSE: DHR) is the compounding machine of the three.”
Danaher Corporation - July 2026
“Danaher: A minor disappointment in Biotechnology but improving underlying markets Danaher also reported its second-quarter results during the month. The report beat market expectations on both revenue and earnings per share. The disappointment lay instead in the performance of the company's most important segment, Biotechnology, which came in below expectations, sending the Danaher share down by more than 15% during the day. The dominant explanation is that a couple of larger orders for major customers, scheduled for delivery in the second and third quarters, are instead being pushed into 2027 as a result of facility and scheduling issues at those customers. As a result, Danaher lowered its full-year guidance. Since the growth narrative sits within Biotechnology, which also carries higher profitability than the group as a whole, the impact is amplified. Underlying order intake for Biotechnology nevertheless remained strong, growing by around 15% for both equipment and key consumables. This is the second consecutive quarter of rapid order growth. The positive trend in Bioprocessing was also confirmed by Thermo Fisher, which said that the improved customer activity in biotech is now beginning to translate into actual revenue, and which raised its full-year guidance. A further data point supporting this thesis came recently from US-based Repligen, whose business consists 100% of Bioprocessing (equipment and consumables). As the fund has noted previously, the company often serves as a good indicator, since its order intake is a pure measure of Danaher's and Thermo Fisher's most important growth engine. During the second quarter, book-to-bill improved sharply sequentially and was said to be clearly above 1.0x, while the order book is being built up ahead of 2027. Order trends are strong overall, and China has improved markedly (+60% in the first half), accounting for 8–10% of Thermo's and Danaher's respective revenue. There is also growing discussion around reshoring production. Repligen has won several large capacity expansion projects and, according to the company, is “on track to win a third within the coming weeks”, which confirms that this investment cycle is also under way. The fund increased its holding in Danaher on the day of the report, as the share price decline was judged to be excessive.”
Danaher Corporation - June 2026
“During the quarter, we initiated new investments in ASML Holding (ASML) and we exited our position in Intuit (INTU). During the quarter-end rebalance of the Quality Premier strategy, we also exited Ametek (AME), added to our holdings in Broadcom (AVGO) and GE Vernova (GEV), and trimmed Alphabet (GOOG), Amazon (AMZN), Danaher (DHR), and Unilever (UL).”
Danaher Corporation - ExitedMD SASS Concentrated ValueJune 2026
“During the quarter, we also exited our positions in Aon (AON), CBRE Group (CBRE), Danaher (DHR), Gildan Activewear (GIL), Quanta Services (PWR), and Synopsys (SNPS).”
Danaher Corporation - June 2026
Listed in Harding Loevner Global Equity’s reported holdings.
Danaher Corporation Listed in Sustainable Growth Advisers U.S. Large Cap Growth Strategy’s reported holdings.
Danaher Corporation- June 2026
“Recent Portfolio Activity During the quarter, we sold our positions in Atmos Energy and Danaher and purchased Autodesk and Edwards Lifesciences.”
Danaher Corporation - June 2026
“Health Care increased during the quarter. Price appreciation from UnitedHealth Group Inc (UNH) increased the weighting, and we added to Danaher Inc (DHR).”
Danaher Corporation - June 2026
“Recent Portfolio Activity During the quarter, we sold our positions in Atmos Energy and Danaher and purchased Autodesk and Edwards Lifesciences.”
Danaher Corporation - June 2026
“We added materially to existing holdings on the same logic: Apple’s share count rose c.90% (now the Fund’s largest position at 5.4%), Danaher, Thermo Fisher, L’Oréal and Ferrari were all more than doubled, and Lilly, Amazon, Alphabet and Meta increased.”
Danaher Corporation - June 2026
“We added materially to existing holdings on the same logic: Apple’s share count rose c.90% (now the Fund’s largest position at 5.4%), Danaher, Thermo Fisher, L’Oréal and Ferrari were all more than doubled, and Lilly, Amazon, Alphabet and Meta increased.”
Danaher Corporation - June 2026
“During the quarter, we sold our positions in Danaher, Dolby Laboratories, and Tokyo Century and purchased Techtronic Industries and Wal-Mart de Mexico.”
Danaher Corporation - June 2026
“Bottom Contributors Intercontinental Exchange shares came under pressure after U.S. regulators eased restrictions on perpetual futures— derivative contracts that let investors speculate on an asset's price movements without owning the asset, with no expiration date—which could present competitive challenges to established exchanges. Danaher underperformed as investors continued to wait for a recovery in the company's end markets.”
Danaher Corporation - June 2026
“Trading Activity 2Q During the quarter we added to the Fund’s positions in Danaher, Thermo Fisher Scientific, and Martin Marietta Materials at prices we think offer substantial upside with favorable risk profiles.”
Danaher Corporation - June 2026
“Portfolio activity beyond the entries and exits above was more muted and tilted toward trims. Beyond the exits of Accenture and Salesforce, we also trimmed our holdings of Alphabet, Amazon, Bio-Techne, SiriusXM and Thermo Fisher, partially offset by additions to Danaher and Global Payments.”
Danaher Corporation - HoldsFPA Crescent FundJune 2026
Listed in FPA Crescent Fund’s reported holdings.
Danaher Corporation - May 2026
Listed in Kavaljer Investmentbolagsfond’s reported holdings.
Danaher Corporation - March 2026
“During the quarter-end rebalance of the Quality Premier strategy, we added to our holdings in Danaher (DHR), Netflix (NFLX) and Linde plc (LIN), and trimmed Intuit (INTU) and Meta Platforms (META).”
Danaher Corporation - March 2026
“We’ve built a position in Danaher, a leading life sciences company.”
Danaher Corporation - December 2025
“Health care names dominated top relative contributors as well: Danaher benefited from a cyclical turnaround in its bioprocessing segment, investors are increasingly convinced that cancer and inflammation medicine growth and recent deals will allow Johnson & Johnson to grow through the loss of Stelara exclusivity.”
Danaher Corporation - HoldsMar Vista US QualityDecember 2025
“After lagging through the first three quarters of 2025, Danaher’s (DHR) stock rebounded during Q4 as bioprocessing, life science, and diagnostics demand continued to recover from a cyclical trough.”
Danaher Corporation - December 2025
“Top Quarterly Contributors Applied Materials, which supplies semiconductor manufacturing equipment, outperformed as optimism around AI-driven semiconductor capital spending persisted, supported by improving prospects at key customers such as Intel. Alphabet posted strong performance in the quarter as resilient revenues for its search business, improving growth in its cloud segment and renewed confidence in its vertically integrated AI strategy lifted investor sentiment. Danaher, a maker of diagnostics technology, benefited during the quarter from improving sentiment around life sciences end markets, as pharmaceutical customers signaled higher-than-expected spending on research and development.”
Danaher Corporation - New positionPender Strategic Growth and Income FundJune 2025
“After the post-“Liberation Day” sell-off in the spring, we initiated positions in three high- conviction core holdings at compelling valuations: Danaher Corporation (DHR) –”
Danaher Corporation - December 2024
“Healthcare stocks in general, and Life Science tool businesses more specifically, ended 2024 on a downbeat as investor sentiment is still cautious on the market’s post-Covid recovery. Hopes for an above- average industry growth rebound in 2025 were muted by managements’ more cautious guidance. Investor concerns over the Trump administration’s healthcare leadership and policies further dampened optimism for a strong 2025. Tariff impacts, NIH funding and Biotech/pharma spending top the list of investor concerns. We believe Mettler-Toledo’s and Danaher’s secular growth opportunities stay intact.”
Danaher Corporation
Also mentioned · 4
These funds discuss Danaher Corporation as a competitor, benchmark or comparable, without disclosing a position in it.
- MentionedRewey AM RAM Smid Value CompositeJune 2026
“Vontier (VNT) We initiated a position in Vontier Corp. (NYSE: VNT), a $4.2 billion industrial technology company that provides fueling equipment, payment systems, and automotive repair tools. Although Vontier became an independent company only after its 2020 spin-off from Fortive (itself spun from Danaher in 2016), its portfolio includes well-established brands such as Gilbarco Veeder-Root and Matco.”
Danaher Corporation - MentionedDiamond Hill Long-Short FundJune 2026
“• Water testing and treatment provider Veralto was spun out of Danaher in late 2023.”
Danaher Corporation - MentionedFPA Queens Road Small Cap Value FundJune 2026
“The company was spun off from Fortive in 2021; Fortive itself was spun off from Danaher's lower- growth industrial businesses.”
Danaher Corporation - March 2026
“At the sector level, the Strategy’s overweight to Industrials and Materials had positive effects, largely offsetting the negative impact of our underweight to Consumer Staples and overweight to Financials. Stock selection was the biggest driver of the Strategy’s relative underperformance for the quarter, particularly in Industrials, Health Care and Financials. Within Industrials, strong performance from Carrier Global was not enough to make up for the underperformance of Verisk Analytics (which we exited during the quarter) and Equifax (EFX). In addition, certain defense stocks which are in the Index but not held in the strategy hurt relative performance. In Health Care, both Intuitive Surgical (ISRG) and Danaher Corp (DHR) were negative relative contributors despite improving and solid fundamental performance.”
Danaher Corporation
Fund coverage · 6 theses
- TAMIM Fund Global High ConvictionJuly 2026
Danaher is a high-quality life sciences and diagnostics compounder with reaccelerating growth, strong margins and disciplined ownership.
Read the full thesis - Aristotle Global Equity AdvisoryJune 2026
Danaher is a disciplined healthcare platform with recurring revenue, strong capital allocation, and a culture that supports margin expansion and free cash flow.
Read the full thesis - Kavaljer InvestmentbolagsfondMay 2026
Danaher is a recurring-revenue life science and diagnostics compounder with improving bioprocessing demand, AI tailwinds, and a discounted valuation.
Read the full thesis - Eagle Capital ManagementMarch 2026
Danaher is a leading life sciences company with high share, strong management, and improving growth prospects.
Read the full thesis - Baron Durable Advantage FundDecember 2025
Danaher is a high-quality life sciences and diagnostics tools provider poised to benefit from reshoring capex, improving funding trends, and structural strengths to drive double-digit EPS growth.
Read the full thesis - Baron Durable Advantage FundJune 2025
Danaher Corporation is a quality compounder in the life sciences sector, well-positioned for long-term growth in bioprocessing despite current market pressures.
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