BidaskClub cut shares of Bruker Corporation (NASDAQ:BRKR) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.
A number of other analysts have also recently weighed in on the stock. Cowen and Company reaffirmed a hold rating and issued a $29.00 price objective on shares of Bruker Corporation in a report on Friday, July 14th. Cleveland Research raised shares of Bruker Corporation from a neutral rating to a buy rating in a report on Thursday, April 27th. Zacks Investment Research raised shares of Bruker Corporation from a hold rating to a buy rating and set a $33.00 price objective on the stock in a report on Thursday, July 6th. Barclays PLC reaffirmed an equal weight rating and issued a $30.00 price objective (up previously from $26.00) on shares of Bruker Corporation in a report on Monday, July 17th. Finally, Deutsche Bank AG increased their price objective on shares of Bruker Corporation from $25.00 to $27.00 and gave the stock a hold rating in a report on Friday, May 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. Bruker Corporation presently has a consensus rating of Hold and an average target price of $27.00.
Shares of Bruker Corporation (NASDAQ BRKR) traded up 1.59% during mid-day trading on Wednesday, hitting $27.50. 538,865 shares of the stock traded hands. Bruker Corporation has a 12-month low of $19.59 and a 12-month high of $30.22. The firm’s 50 day moving average price is $28.60 and its 200-day moving average price is $25.66. The stock has a market cap of $4.36 billion, a P/E ratio of 27.42 and a beta of 1.10.
Bruker Corporation (NASDAQ:BRKR) last released its quarterly earnings data on Thursday, August 3rd. The medical research company reported $0.23 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $414.90 million for the quarter, compared to analysts’ expectations of $384.75 million. During the same quarter last year, the company earned $0.20 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts predict that Bruker Corporation will post $1.12 earnings per share for the current year.
Bruker Corporation declared that its board has approved a stock buyback plan on Friday, May 12th that authorizes the company to buyback $225.00 million in outstanding shares. This buyback authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
In other Bruker Corporation news, Director Richard Kniss sold 24,000 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $28.23, for a total transaction of $677,520.00. Following the transaction, the director now owns 46,753 shares of the company’s stock, valued at approximately $1,319,837.19. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Frank H. Laukien bought 1,920 shares of the stock in a transaction on Tuesday, May 16th. The shares were bought at an average cost of $25.88 per share, for a total transaction of $49,689.60. Following the purchase, the chief executive officer now owns 37,712,851 shares in the company, valued at approximately $976,008,583.88. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 80,455 shares of company stock worth $2,111,321 and have sold 117,624 shares worth $3,271,574. 35.20% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted 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 valued at $229,391,000 after buying an additional 277,111 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Bruker Corporation by 648.9% in the first quarter. Canada Pension Plan Investment Board now owns 70,400 shares of the medical research company’s stock valued at $1,642,000 after buying an additional 61,000 shares during the period. Schwab Charles Investment Management Inc. raised its position in Bruker Corporation by 4.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 524,525 shares of the medical research company’s stock valued at $12,238,000 after buying an additional 24,115 shares during the period. Highbridge Capital Management LLC acquired a new position in Bruker Corporation during the first quarter valued at $6,030,000. Finally, Parametrica Management Ltd acquired a new position in Bruker Corporation during the first quarter valued at $309,000. 67.00% of the stock is currently owned by hedge funds and other institutional investors.
Bruker Corporation Company Profile
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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