RGIA: “Danaher Corporation (DHR): Purity in the Crown Jewel of Bioprocessing”

RGA Investment Advisors, an investment management company released its first quarter 2024 investor letter. A copy of the letter can be downloaded here. Strong economic growth combined with frustratingly resilient inflation defined the macroeconomic environment in the first quarter. The large caps outperformed their smaller counterparts in Q1. It may be the result of continued momentum in the market. Kindly check the top 5 stocks of the strategy to know its best picks in 2024.

RGA Investment Advisors highlighted stocks like Danaher Corporation (NYSE:DHR), in the first quarter 2024 investor letter. Danaher Corporation (NYSE:DHR) manufactures and markets professional, medical, industrial, and commercial products and services. The one-month return of Danaher Corporation (NYSE:DHR) was -4.59%, and its shares gained 18.91% of their value over the last 52 weeks. On June 14, 2024, Danaher Corporation (NYSE:DHR) stock closed at $254.85 per share with a market capitalization of $188.764 billion.

RGA Investment Advisors stated the following regarding Danaher Corporation (NYSE:DHR) in its first quarter 2024 investor letter:

"In our Q3 2023 commentary, we featured a section on our investment in Danaher Corporation (NYSE:DHR) entitled “Purity in the Crown Jewel of Bioprocessing.” Specifically, we were speaking to Cytiva, Danaher’s bioprocessing business formed by the merger of Pall Corp and GE’s bioprocessing division. We will not repeat the features that attract us to bioprocessing in general, nor the elements of timeliness, though we will emphasize that our confidence in timeliness has actually increased since writing that piece. While Danaher has performed admirably ever since, its peer Sartorius, which was referenced by labeling bioprocessing “an oligopolistic market, with a small number of critical players and extremely high barriers to entry.”

A healthcare professional in a lab coat holding a microscope and looking at a slide under the lens.

Danaher Corporation (NYSE:DHR) is in 24th position on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 98 hedge fund portfolios held Danaher Corporation (NYSE:DHR) at the end of the first quarter which was 90 in the previous quarter. While we acknowledge the potential of Danaher Corporation (NYSE:DHR) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

In another article, we discussed Danaher Corporation (NYSE:DHR) and shared the list of top dividend stocks to buy in 2024 according to billionaire Paul Tudor Jones. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.