We're buying 25 shares of Danaher at roughly $243 each. Following Thursday's trade, Jim Cramer's Charitable Trust will own 525 shares of DHR, increasing its weighting to 3.67% from 3.5%. We're picking up more shares of Danaher as we continue to view the roughly 10% decline in shares of the life sciences company since earnings as too excessive and a chance to add to our position for the second time this week at a cheaper price.
On Thursday morning, Wolfe Research upgraded its rating on Danaher to an outperform buy and set a $285 per share price target. Even though Wolfe said it has always believed Danaher was one of the top assets in the tools industry, it held a peer perform hold rating on the stock because the analysts thought consensus expectations and the stock's valuation were too high. That has all changed in the past week.