Bruker Corporation (BRKR) Cut to “Hold” at BidaskClub
BidaskClub cut shares of Bruker Corporation (NASDAQ:BRKR) from a buy rating to a hold rating in a report issued on Wednesday.
Other equities research analysts also recently issued research reports about the stock. Jefferies Group LLC reaffirmed a buy rating and issued a $29.00 target price on shares of Bruker Corporation in a research note on Friday, May 5th. Wells Fargo & Company downgraded shares of Bruker Corporation from a market perform rating to an underperform rating in a research note on Wednesday, July 12th. Zacks Investment Research raised shares of Bruker Corporation from a hold rating to a buy rating and set a $33.00 target price for the company in a research note on Thursday, July 6th. Cleveland Research raised shares of Bruker Corporation from a neutral rating to a buy rating in a research note on Thursday, April 27th. Finally, Cowen and Company upped their target price on shares of Bruker Corporation from $25.00 to $27.00 and gave the company a market perform rating in a research note on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $27.00.
Bruker Corporation (NASDAQ:BRKR) traded up 1.59% on Wednesday, reaching $27.50. 538,865 shares of the company’s stock traded hands. The firm has a market capitalization of $4.36 billion, a PE ratio of 27.42 and a beta of 1.10. The firm’s 50 day moving average price is $28.60 and its 200 day moving average price is $25.66. Bruker Corporation has a 52-week low of $19.59 and a 52-week high of $30.22.
Bruker Corporation (NASDAQ:BRKR) last issued its earnings results on Thursday, August 3rd. The medical research company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Bruker Corporation had a net margin of 9.65% and a return on equity of 26.66%. The firm had revenue of $414.90 million during the quarter, compared to the consensus estimate of $384.75 million. During the same quarter in the prior year, the firm earned $0.20 earnings per share. The business’s quarterly revenue was up 11.6% on a year-over-year basis. On average, analysts predict that Bruker Corporation will post $1.12 EPS for the current fiscal year.
Bruker Corporation declared that its board has authorized a share repurchase plan on Friday, May 12th that allows the company to repurchase $225.00 million in shares. This repurchase authorization allows the medical research company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In related news, Director Richard Kniss sold 24,000 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $28.23, for a total value of $677,520.00. Following the completion of the transaction, the director now owns 46,753 shares of the company’s stock, valued at $1,319,837.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Mark Munch sold 73,724 shares of the firm’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $27.62, for a total transaction of $2,036,256.88. Following the completion of the transaction, the vice president now directly owns 106,602 shares of the company’s stock, valued at approximately $2,944,347.24. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 80,455 shares of company stock valued at $2,111,321 and sold 117,624 shares valued at $3,271,574. 35.20% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Bruker Corporation by 2.9% in the first quarter. Vanguard Group Inc. now owns 9,832,452 shares of the medical research company’s stock worth $229,391,000 after buying an additional 277,111 shares during the period. FMR LLC increased its position in Bruker Corporation by 26.4% in the first quarter. FMR LLC now owns 7,146,000 shares of the medical research company’s stock worth $166,716,000 after buying an additional 1,491,140 shares during the period. BlackRock Inc. increased its position in Bruker Corporation by 3.0% in the second quarter. BlackRock Inc. now owns 4,747,514 shares of the medical research company’s stock worth $136,918,000 after buying an additional 139,792 shares during the period. Boston Partners increased its position in Bruker Corporation by 3.6% in the second quarter. Boston Partners now owns 2,773,019 shares of the medical research company’s stock worth $79,973,000 after buying an additional 96,791 shares during the period. Finally, Victory Capital Management Inc. increased its position in Bruker Corporation by 6.8% in the second quarter. Victory Capital Management Inc. now owns 1,930,209 shares of the medical research company’s stock worth $55,667,000 after buying an additional 123,322 shares during the period. 67.00% of the stock is owned by institutional investors and hedge funds.
About Bruker Corporation
Bruker Corporation designs and manufactures scientific instruments, and analytical and diagnostic solutions. Its segments include the Bruker BioSpin Group; the Bruker Chemicals, Applied Markets, Life Science, In-Vitro Diagnostics, Detection (CALID) Group; the Bruker Nano Group, and the Bruker Energy & Supercon Technologies (BEST) Segment.
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