Thompson Rubinstein Investment Management Inc. OR Has $4,695,000 Stake in Bruker Corporation (BRKR)
Thompson Rubinstein Investment Management Inc. OR held its stake in Bruker Corporation (NASDAQ:BRKR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 162,805 shares of the medical research company’s stock at the end of the second quarter. Bruker Corporation makes up approximately 1.7% of Thompson Rubinstein Investment Management Inc. OR’s holdings, making the stock its 20th largest position. Thompson Rubinstein Investment Management Inc. OR owned about 0.10% of Bruker Corporation worth $4,695,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Guggenheim Capital LLC boosted its position in Bruker Corporation by 42.4% in the fourth quarter. Guggenheim Capital LLC now owns 64,163 shares of the medical research company’s stock valued at $1,359,000 after buying an additional 19,095 shares during the period. Norges Bank acquired a new position in Bruker Corporation during the fourth quarter valued at about $45,298,000. Quadrature Capital Ltd acquired a new position in Bruker Corporation during the fourth quarter valued at about $244,000. Teachers Advisors LLC boosted its position in Bruker Corporation by 19.4% in the fourth quarter. Teachers Advisors LLC now owns 123,004 shares of the medical research company’s stock valued at $2,605,000 after buying an additional 19,995 shares during the period. Finally, Capstone Asset Management Co. acquired a new position in Bruker Corporation during the first quarter valued at about $203,000. Institutional investors own 67.45% of the company’s stock.
Bruker Corporation (NASDAQ BRKR) traded up 0.66% during mid-day trading on Monday, hitting $29.18. The company had a trading volume of 314,532 shares. The company has a 50-day moving average price of $27.44 and a 200 day moving average price of $24.28. Bruker Corporation has a 12 month low of $19.58 and a 12 month high of $30.02. The firm has a market capitalization of $4.66 billion, a P/E ratio of 30.98 and a beta of 1.10.
Bruker Corporation (NASDAQ:BRKR) last posted its quarterly earnings data on Wednesday, May 3rd. The medical research company reported $0.19 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.19. The company had revenue of $384.90 million during the quarter, compared to analyst estimates of $372.59 million. Bruker Corporation had a return on equity of 26.88% and a net margin of 9.35%. Bruker Corporation’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.21 EPS. Equities analysts forecast that Bruker Corporation will post $1.10 EPS for the current fiscal year.
Bruker Corporation declared that its board has approved a share repurchase plan on Friday, May 12th that allows the company to repurchase $225.00 million in outstanding shares. This repurchase authorization allows the medical research company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Stockholders of record on Monday, June 5th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Thursday, June 1st. Bruker Corporation’s dividend payout ratio is currently 17.02%.
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BRKR has been the topic of several research analyst reports. Cleveland Research raised Bruker Corporation from a “neutral” rating to a “buy” rating in a research note on Thursday, April 27th. Jefferies Group LLC restated a “buy” rating and set a $29.00 price target on shares of Bruker Corporation in a research report on Friday, May 5th. 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 report on Thursday, July 6th. Cowen and Company reissued a “hold” rating and issued a $29.00 target price on shares of Bruker Corporation in a report on Friday. Finally, Deutsche Bank AG boosted their target price on Bruker Corporation from $25.00 to $27.00 and gave the stock a “hold” rating in a report on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. Bruker Corporation presently has an average rating of “Hold” and an average target price of $26.00.
In related news, CEO Frank H. Laukien bought 1,920 shares of the stock in a transaction dated Tuesday, May 16th. The shares were acquired at an average cost of $25.88 per share, for a total transaction of $49,689.60. Following the acquisition, the chief executive officer now directly owns 37,712,851 shares in the company, valued at approximately $976,008,583.88. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Frank H. Laukien bought 3,200 shares of the stock in a transaction dated Friday, May 19th. The shares were bought at an average price of $26.13 per share, for a total transaction of $83,616.00. Following the completion of the acquisition, the chief executive officer now owns 37,789,051 shares in the company, valued at $987,427,902.63. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 78,120 shares of company stock worth $2,047,366 and have sold 117,624 shares worth $3,271,574. Insiders own 35.80% of the company’s stock.
About Bruker Corporation
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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