Mid Atlantic Financial Management Inc. ADV bought a new position in shares of Bruker Co. (NASDAQ:BRKR) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,386 shares of the medical research company’s stock, valued at approximately $219,000.
Several other hedge funds have also bought and sold shares of BRKR. Advisor Group Holdings Inc. bought a new position in Bruker in the first quarter valued at about $616,000. Strs Ohio grew its stake in Bruker by 48.2% during the second quarter. Strs Ohio now owns 27,180 shares of the medical research company’s stock worth $1,105,000 after purchasing an additional 8,841 shares during the period. State Street Corp grew its stake in Bruker by 7.4% during the first quarter. State Street Corp now owns 1,566,923 shares of the medical research company’s stock worth $56,190,000 after purchasing an additional 108,577 shares during the period. AQR Capital Management LLC grew its stake in Bruker by 54.8% during the first quarter. AQR Capital Management LLC now owns 280,953 shares of the medical research company’s stock worth $10,075,000 after purchasing an additional 99,441 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Bruker during the first quarter worth approximately $233,000. 69.96% of the stock is currently owned by institutional investors and hedge funds.
BRKR stock opened at $42.53 on Wednesday. Bruker Co. has a fifty-two week low of $30.78 and a fifty-two week high of $54.49. The business’s 50 day moving average price is $42.28 and its two-hundred day moving average price is $41.77. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.72 and a current ratio of 2.61. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of 40.12, a price-to-earnings-growth ratio of 6.42 and a beta of 1.39.
Bruker (NASDAQ:BRKR) last posted its earnings results on Monday, August 3rd. The medical research company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.16. Bruker had a return on equity of 22.70% and a net margin of 8.35%. The firm had revenue of $424.60 million for the quarter, compared to the consensus estimate of $395.51 million. During the same quarter in the prior year, the business earned $0.33 EPS. The business’s revenue for the quarter was down 13.4% on a year-over-year basis. Sell-side analysts forecast that Bruker Co. will post 1.25 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.38%. Bruker’s dividend payout ratio (DPR) is 10.19%.
BRKR has been the subject of several recent analyst reports. TheStreet raised Bruker from a “c+” rating to a “b” rating in a research note on Monday, August 3rd. Wells Fargo & Co raised their target price on Bruker from $42.00 to $52.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Bank of America raised their target price on Bruker from $43.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. SVB Leerink raised their target price on Bruker from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. Finally, Citigroup raised their target price on Bruker from $38.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $45.05.
In other Bruker news, Director Cynthia M. Friend sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $40.57, for a total transaction of $73,026.00. Following the transaction, the director now owns 11,857 shares in the company, valued at approximately $481,038.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 26.80% of the stock is currently owned by corporate insiders.
Bruker Company Profile
Bruker Corporation manufactures and distributes scientific instruments, and analytical and diagnostic solutions in the United States, Europe, the Asia Pacific, and internationally. The company operates in two segments, Bruker Scientific Instruments, and Bruker Energy & Supercon Technologies. It offers life science tools based on magnetic resonance technology; life science mass spectrometry and ion mobility spectrometry solutions; infrared spectroscopy and radiological/nuclear detectors for chemical, biological, radiological, nuclear, and explosive detection in emergency response, homeland security, and defense applications; and research, analytical, and process analysis instruments and solutions based on infrared and Raman molecular spectroscopy technologies.
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