Artisan Mid Cap Value Fund initiated a new position in Veralto Corporation during the first quarter of 2026, citing an attractive entry point after shares traded down from prior levels. The fund noted that Veralto, a water quality and product quality solutions provider spun out of Danaher in 2023, now reflects more modest expectations following conservative full-year EPS guidance that disappointed the market. Veralto benefits from high regulatory requirements, mission-critical applications, and significant switching costs in its Water Quality and Product Quality & Innovation segments, along with a razor/razor-blade model that drives recurring consumable revenue and strong pricing power. The stock closed at $93.10 on July 7, 2026, with a market capitalization of $22.86 billion, posting a one-month return of 12.68% but a 52-week loss of 9.06%. The fund underperformed its benchmark in Q1 2026, with its Investor Class returning -4.93% versus the Russell Midcap Value Index's 3.68% gain.
Veralto CorporationArtisan Mid Cap Value Fund initiated a new position, citing an attractive entry point after shares traded down.
Danaher Corporation