Cowen and Company Reiterates “Hold” Rating for Bruker Corporation (BRKR)

Bruker Corporation (NASDAQ:BRKR)‘s stock had its “hold” rating restated by equities research analysts at Cowen and Company in a research note issued to investors on Friday. They currently have a $29.00 price objective on the medical research company’s stock. Cowen and Company’s price objective suggests a potential downside of 0.62% from the company’s current price.

A number of other brokerages also recently commented on BRKR. Jefferies Group LLC reiterated a “buy” rating and issued a $29.00 target price on shares of Bruker Corporation in a report on Monday, May 15th. Wells Fargo & Company lowered Bruker Corporation from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 12th. Janney Montgomery Scott lowered Bruker Corporation from a “buy” rating to a “neutral” rating in a research note on Monday, March 27th. Zacks Investment Research upgraded Bruker Corporation from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Thursday, July 6th. Finally, Deutsche Bank AG boosted their price target on Bruker Corporation from $25.00 to $27.00 and gave the stock a “hold” rating in a research note on Friday, May 5th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $26.46.

Shares of Bruker Corporation (BRKR) opened at 29.18 on Friday. The stock has a market capitalization of $4.66 billion, a P/E ratio of 30.98 and a beta of 1.10. Bruker Corporation has a 12 month low of $19.58 and a 12 month high of $30.02. The company’s 50-day moving average is $27.44 and its 200 day moving average is $24.28.

Bruker Corporation (NASDAQ:BRKR) last announced its earnings results on Wednesday, May 3rd. The medical research company reported $0.19 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.19. The business had revenue of $384.90 million during the quarter, compared to the consensus estimate of $372.59 million. Bruker Corporation had a net margin of 9.35% and a return on equity of 26.88%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share. Equities research analysts predict that Bruker Corporation will post $1.10 earnings per share for the current year.

Bruker Corporation declared that its Board of Directors has authorized a stock buyback program on Friday, May 12th that allows the company to buyback $225.00 million in shares. This buyback authorization allows the medical research company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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In other Bruker Corporation news, CEO Frank H. Laukien bought 3,200 shares of Bruker Corporation stock in a transaction dated Friday, May 19th. The stock was acquired at an average cost of $26.13 per share, with a total value of $83,616.00. Following the purchase, the chief executive officer now directly owns 37,789,051 shares in the company, valued at approximately $987,427,902.63. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Frank H. Laukien bought 1,920 shares of Bruker Corporation stock in a transaction dated Tuesday, May 16th. The shares were acquired at an average cost of $25.88 per share, with a total value of $49,689.60. Following the completion of the purchase, the chief executive officer now owns 37,712,851 shares in the company, valued at $976,008,583.88. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 78,120 shares of company stock valued at $2,047,366 and have sold 117,624 shares valued at $3,271,574. Corporate insiders own 35.80% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its position in shares of Bruker Corporation by 0.7% in the first quarter. Public Employees Retirement System of Ohio now owns 48,267 shares of the medical research company’s stock valued at $1,126,000 after buying an additional 312 shares during the last quarter. Denver Investment Advisors LLC increased its position in shares of Bruker Corporation by 7.2% in the first quarter. Denver Investment Advisors LLC now owns 22,215 shares of the medical research company’s stock valued at $518,000 after buying an additional 1,500 shares during the last quarter. NN Investment Partners Holdings N.V. increased its position in shares of Bruker Corporation by 8.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 28,283 shares of the medical research company’s stock valued at $816,000 after buying an additional 2,145 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Bruker Corporation by 22.4% in the first quarter. Pacer Advisors Inc. now owns 13,265 shares of the medical research company’s stock valued at $309,000 after buying an additional 2,430 shares during the last quarter. Finally, Keybank National Association OH increased its position in shares of Bruker Corporation by 10.2% in the first quarter. Keybank National Association OH now owns 49,466 shares of the medical research company’s stock valued at $1,154,000 after buying an additional 4,592 shares during the last quarter. 67.45% of the stock is owned by institutional investors and hedge funds.

Bruker Corporation Company Profile

Bruker Corporation is a developer, manufacturer and distributor of scientific instruments and analytical and diagnostic solutions that enable its customers to explore life and materials at microscopic, molecular and cellular levels. The Company’s segments include Bruker Scientific Instruments (BSI) and Bruker Energy & Supercon Technologies (BEST).

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