Vanguard Group Inc. Has $229.39 Million Position in Bruker Corporation (NASDAQ:BRKR)
Vanguard Group Inc. increased its position in Bruker Corporation (NASDAQ:BRKR) by 2.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,832,452 shares of the medical research company’s stock after buying an additional 277,111 shares during the period. Vanguard Group Inc. owned about 6.16% of Bruker Corporation worth $229,391,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Bruker Corporation during the fourth quarter worth about $45,298,000. FMR LLC boosted its position in Bruker Corporation by 26.4% in the first quarter. FMR LLC now owns 7,146,000 shares of the medical research company’s stock worth $166,716,000 after buying an additional 1,491,140 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in Bruker Corporation during the first quarter worth about $28,963,000. Marshall Wace North America L.P. acquired a new position in Bruker Corporation during the first quarter worth about $28,963,000. Finally, Eagle Asset Management Inc. acquired a new position in Bruker Corporation during the first quarter worth about $11,553,000. Hedge funds and other institutional investors own 67.00% of the company’s stock.
Shares of Bruker Corporation (BRKR) traded down 0.47% during midday trading on Monday, hitting $27.75. The company’s stock had a trading volume of 640,118 shares. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 29.46 and a beta of 1.10. Bruker Corporation has a 12-month low of $19.58 and a 12-month high of $30.02. The firm has a 50-day moving average of $28.70 and a 200 day moving average of $25.43.
Bruker Corporation (NASDAQ:BRKR) last released its quarterly earnings results on Thursday, August 3rd. The medical research company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. Bruker Corporation had a return on equity of 27.18% and a net margin of 9.65%. The business had revenue of $414.90 million during the quarter, compared to analyst estimates of $384.75 million. During the same period last year, the business posted $0.20 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. On average, equities research analysts predict that Bruker Corporation will post $1.12 EPS for the current fiscal year.
Bruker Corporation announced that its Board of Directors has initiated a share buyback program on Friday, May 12th that allows the company to buyback $225.00 million in shares. This buyback authorization allows the medical research company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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A number of research firms recently issued reports on BRKR. BidaskClub cut Bruker Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Jefferies Group LLC restated a “buy” rating and set a $29.00 price objective on shares of Bruker Corporation in a report on Monday, May 15th. Deutsche Bank AG boosted their price objective on Bruker Corporation from $25.00 to $27.00 and gave the company a “hold” rating in a report on Monday, May 15th. Wells Fargo & Company cut Bruker Corporation from a “market perform” rating to an “underperform” rating in a report on Wednesday, July 12th. Finally, Cowen and Company boosted their price objective on Bruker Corporation from $25.00 to $27.00 and gave the company a “market perform” rating in a report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $27.00.
In related news, Director Ingen Chris Van sold 19,900 shares of Bruker Corporation stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $28.03, for a total value of $557,797.00. Following the completion of the transaction, the director now directly owns 14,577 shares in the company, valued at $408,593.31. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard Kniss sold 24,000 shares of Bruker Corporation stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $28.23, for a total value of $677,520.00. Following the completion of the transaction, the director now owns 46,753 shares of the company’s stock, valued at $1,319,837.19. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 78,120 shares of company stock valued at $2,047,366 and sold 117,624 shares valued at $3,271,574. Company insiders own 35.20% of the company’s stock.
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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