Needham & Company LLC set a $57.00 price target on Bruker (NASDAQ:BRKR) in a report issued on Monday, Briefing.com Automated Import reports. The brokerage currently has a strong-buy rating on the medical research company’s stock.
A number of other research analysts also recently issued reports on the company. UBS Group raised Bruker from a sell rating to a neutral rating and set a $43.00 price target for the company in a report on Friday, May 3rd. Leerink Swann raised Bruker from a market perform rating to an outperform rating in a report on Friday, May 3rd. Barclays reissued a hold rating and issued a $44.00 price target on shares of Bruker in a report on Monday. Wolfe Research started coverage on Bruker in a report on Thursday, May 30th. They issued a peer perform rating for the company. Finally, Deutsche Bank raised Bruker from a hold rating to a buy rating and boosted their price target for the company from $40.00 to $50.00 in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $48.20.
Shares of NASDAQ:BRKR opened at $48.27 on Monday. Bruker has a 12-month low of $26.10 and a 12-month high of $49.88. The firm has a market capitalization of $7.62 billion, a P/E ratio of 34.48, a PEG ratio of 2.38 and a beta of 1.26. The firm has a 50 day moving average of $43.91. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.12 and a quick ratio of 1.27.
Bruker (NASDAQ:BRKR) last announced its quarterly earnings results on Thursday, May 2nd. The medical research company reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.04. Bruker had a return on equity of 26.28% and a net margin of 9.53%. The company had revenue of $461.40 million during the quarter, compared to the consensus estimate of $450.46 million. During the same period in the previous year, the company posted $0.24 earnings per share. Bruker’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities research analysts anticipate that Bruker will post 1.62 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Monday, June 3rd were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.33%. The ex-dividend date was Friday, May 31st. Bruker’s payout ratio is 11.43%.
In other news, CEO Frank H. Laukien sold 400,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $41.48, for a total transaction of $16,592,000.00. Following the completion of the transaction, the chief executive officer now directly owns 37,991,030 shares of the company’s stock, valued at approximately $1,575,867,924.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Marc A. Kastner sold 1,374 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $41.79, for a total value of $57,419.46. Following the transaction, the director now directly owns 10,811 shares of the company’s stock, valued at $451,791.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 801,374 shares of company stock valued at $33,241,419. Corporate insiders own 26.50% of the company’s stock.
Several hedge funds have recently made changes to their positions in BRKR. Norges Bank acquired a new position in shares of Bruker during the 4th quarter worth approximately $49,346,000. First Trust Advisors LP raised its stake in Bruker by 3,479.9% in the 4th quarter. First Trust Advisors LP now owns 663,285 shares of the medical research company’s stock valued at $19,746,000 after purchasing an additional 644,757 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Bruker by 1,923.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 406,482 shares of the medical research company’s stock valued at $12,101,000 after purchasing an additional 386,390 shares during the last quarter. Bank of America Corp DE raised its stake in Bruker by 36.7% in the 4th quarter. Bank of America Corp DE now owns 1,352,697 shares of the medical research company’s stock valued at $40,270,000 after purchasing an additional 363,249 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in Bruker by 10.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,298,436 shares of the medical research company’s stock valued at $126,792,000 after purchasing an additional 319,125 shares during the last quarter. 66.73% of the stock is owned by institutional investors and hedge funds.
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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