On Aug. 5, iA Global Asset Management Inc. disclosed buying 301,028 shares of Danaher(DHR 1.40%), valued at approximately $58.43 million in Q2 2025.
Key points
The investment firm bought 301,028 shares for $58.43 million in the quarter ended June 30.
The transaction represented 0.88% of iA Global Asset Management's 13F AUM.
Post-trade stake: 421,023 shares valued at $83.17 million.
Danaher now accounts for 1.25% of the fund's 13F reportable assets across 416 positions.
What happened
According to a filing with the Securities and Exchange Commission published Aug. 5, iA Global increased its position in Danaher by 301,028 shares, as reflected in the latest 13F filing. The purchase had a transaction value of $58.43 million for the period ended June 30. This lifted the fund's total holdings to 421,023 shares, worth $83.17 million as of Aug. 4.
What else to know
Danaher now makes up 1.25% of iA Global Asset Management's 13F AUM.
Top holdings as of June 30:
MSFT: $461.8 million (6.9% of AUM)
GOOGL: $454.6 million (6.8% of AUM)
NVDA: $424.3 million (6.4% of AUM)
AMZN: $314.1 million (4.7% of AUM)
AAPL: $256.2 million (3.9% of AUM)
Danaher shares were priced at $197.46 on Aug. 4, down 29.7% over the past year; one-year alpha vs. S&P 500 was -46.1 percentage points for the period ended Aug. 4.
Dividend yield was 0.6% as of Aug. 5; Forward P/E was 25.55 as of Aug. 5.
Five-year revenue CAGR was 5.92%.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $24.01 billion |
| Net income (TTM) | $3.41 billion |
| Dividend yield | 0.60% |
| One-year price change | (29.67%) |
Company snapshot
Offers a diversified portfolio of products and services across life sciences, diagnostics, and environmental & applied solutions, including mass spectrometers, lab automation, clinical instruments, reagents, and water treatment systems.
Generates revenue from the sale of equipment, consumables, and related services to healthcare, pharmaceutical, industrial, and research customers.
Serves hospitals, laboratories, pharmaceutical and biopharmaceutical companies, research institutions, and industrial manufacturers globally.
Danaher operates in medical diagnostics, life sciences, and environmental solutions, with $24 billion in revenue for the trailing 12 months ended June 27.
Foolish take
It hasn't been an excellent year for Danaher investors, with the stock down 13% on the year as I write. However, iA Global Asset Management's acquisition of Danaher stock is a sign that institutional investors may well be looking at it as a value opportunity.
The words "value" and Danaher stock are rarely used together because the stock usually commands a valuation premium, reflecting its position as a "picks and shovels play" on the biotechnology and life sciences industries, as well as its growing diagnostics business.
These are attractive markets to be in over the long term, and Danaher's continued growth in consumables sold into them creates a margin expansion opportunity as well as a long-term stream of recurring revenue.
Any slowing in growth compared to expectations will leave a highly valued stock under pressure, and management's guidance for core revenue growth of 3% in 2025 is at the low end of expectations for mid-single-digit growth over the long term. The culprit is its life sciences sales, which are weak due to a lack of investment from government and academic customers.
This could turn out to be a natural correction from the boom in life sciences investment created by the pandemic, as well as cautiousness in spending in countries like China. Still, these issues look temporary, and the more Danaher stock falls, the more enticing it will become for patient investors.
Glossary
13F filing: A quarterly report by institutional investment managers disclosing their U.S. equity holdings.
AUM (Assets Under Management): The total market value of assets that a fund or manager oversees on behalf of clients.
Post-trade stake: The total number of shares held in a company after a transaction is completed.
Alpha: A measure of an investment's performance relative to a benchmark, indicating value added or lost.
Dividend yield: Annual dividends paid by a company divided by its share price, expressed as a percentage.
Forward P/E: Price-to-earnings ratio using forecasted earnings for the next 12 months.
CAGR (Compound Annual Growth Rate): The annualized rate of return for an investment over a specified period, assuming profits are reinvested.
TTM: The 12 months ending with the most recent quarterly report.
