Prudential Financial Inc. boosted its holdings in Bruker Co. (NASDAQ:BRKR) by 16.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,692 shares of the medical research company’s stock after acquiring an additional 5,450 shares during the quarter. Prudential Financial Inc.’s holdings in Bruker were worth $1,883,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC bought a new position in Bruker in the 1st quarter valued at approximately $35,000. Advisory Services Network LLC bought a new position in Bruker in the 2nd quarter valued at approximately $89,000. Machina Capital S.A.S. bought a new position in Bruker in the 2nd quarter valued at approximately $132,000. New York State Teachers Retirement System bought a new position in Bruker in the 2nd quarter valued at approximately $150,000. Finally, HWG Holdings LP bought a new position in Bruker in the 2nd quarter valued at approximately $172,000. 66.59% of the stock is currently owned by institutional investors and hedge funds.
In other Bruker news, VP Mark Munch sold 47,203 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $42.87, for a total value of $2,023,592.61. Following the completion of the sale, the vice president now owns 96,063 shares in the company, valued at approximately $4,118,220.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Burkhard Prause sold 15,702 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $42.96, for a total value of $674,557.92. Following the completion of the sale, the chief executive officer now owns 1,338 shares of the company’s stock, valued at approximately $57,480.48. The disclosure for this sale can be found here. 26.50% of the stock is currently owned by company insiders.
Bruker (NASDAQ:BRKR) last announced its earnings results on Thursday, August 1st. The medical research company reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. Bruker had a return on equity of 27.10% and a net margin of 9.57%. The company had revenue of $490.20 million for the quarter, compared to analysts’ expectations of $477.70 million. During the same period last year, the firm earned $0.25 EPS. Bruker’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, analysts predict that Bruker Co. will post 1.61 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Tuesday, September 3rd will be issued a $0.04 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.16 dividend on an annualized basis and a yield of 0.37%. Bruker’s dividend payout ratio is currently 11.43%.
Several equities analysts have recently weighed in on BRKR shares. BTIG Research increased their price target on Bruker to $57.00 and gave the company a “buy” rating in a report on Friday, June 21st. Barclays reissued a “hold” rating and set a $44.00 price target on shares of Bruker in a report on Monday, June 24th. BidaskClub cut Bruker from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Goldman Sachs Group raised Bruker from a “sell” rating to a “neutral” rating and increased their price target for the company from $32.00 to $48.00 in a report on Monday, July 15th. Finally, ValuEngine raised Bruker from a “hold” rating to a “buy” rating in a report on Saturday, August 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Bruker currently has a consensus rating of “Buy” and a consensus price target of $48.18.
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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