Leerink Swann Research Analysts Boost Earnings Estimates for Bruker Corporation (BRKR)
Bruker Corporation (NASDAQ:BRKR) – Research analysts at Leerink Swann raised their Q3 2017 earnings per share estimates for Bruker Corporation in a research report issued to clients and investors on Friday. Leerink Swann analyst P. Souda now expects that the medical research company will earn $0.30 per share for the quarter, up from their prior forecast of $0.27. Leerink Swann also issued estimates for Bruker Corporation’s Q3 2018 earnings at $0.32 EPS.
Bruker Corporation (NASDAQ:BRKR) last posted its quarterly earnings results on Thursday, August 3rd. The medical research company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $414.90 million during the quarter, compared to analysts’ expectations of $384.75 million. During the same quarter in the previous year, the business earned $0.20 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis.
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A number of other equities analysts have also issued reports on the company. Cowen and Company restated a “hold” rating and issued a $29.00 target price on shares of Bruker Corporation in a research note on Friday, July 14th. Cleveland Research upgraded Bruker Corporation from a “neutral” rating to a “buy” rating in a research note on Thursday, April 27th. Zacks Investment Research upgraded Bruker Corporation from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Thursday, July 6th. Barclays PLC restated an “equal weight” rating and issued a $30.00 target price (up previously from $26.00) on shares of Bruker Corporation in a research note on Monday, July 17th. Finally, Deutsche Bank AG raised their target price on Bruker Corporation from $25.00 to $27.00 and gave the stock a “hold” rating in a research note on Friday, May 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $27.00.
Shares of Bruker Corporation (BRKR) opened at 27.34 on Monday. The company has a 50 day moving average price of $28.72 and a 200 day moving average price of $25.49. Bruker Corporation has a one year low of $19.59 and a one year high of $30.22. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 29.02 and a beta of 1.10.
Bruker Corporation declared that its board has authorized a share buyback plan on Friday, May 12th that authorizes the company to buyback $225.00 million in shares. This buyback authorization authorizes the medical research company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
In other Bruker Corporation news, VP Mark Munch sold 73,724 shares of Bruker Corporation stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $27.62, for a total transaction of $2,036,256.88. Following the completion of the transaction, the vice president now owns 106,602 shares in the company, valued at approximately $2,944,347.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frank H. Laukien acquired 73,000 shares of Bruker Corporation stock in a transaction on Thursday, May 18th. The shares were bought at an average price of $26.22 per share, with a total value of $1,914,060.00. Following the purchase, the chief executive officer now directly owns 37,750,851 shares in the company, valued at approximately $989,827,313.22. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 78,120 shares of company stock valued at $2,047,366 and have sold 117,624 shares valued at $3,271,574. Company insiders own 35.20% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Bruker Corporation by 2.9% in the first quarter. Vanguard Group Inc. now owns 9,832,452 shares of the medical research company’s stock worth $229,391,000 after buying an additional 277,111 shares during the last quarter. FMR LLC raised 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. BlackRock Inc. raised its position in Bruker Corporation by 26,266.0% in the first quarter. BlackRock Inc. now owns 4,607,722 shares of the medical research company’s stock worth $107,498,000 after buying an additional 4,590,246 shares during the last quarter. Boston Partners raised its position in Bruker Corporation by 3.6% in the second quarter. Boston Partners now owns 2,773,019 shares of the medical research company’s stock worth $79,973,000 after buying an additional 96,791 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Bruker Corporation by 6.8% in the second quarter. Victory Capital Management Inc. now owns 1,930,209 shares of the medical research company’s stock worth $55,667,000 after buying an additional 123,322 shares during the last quarter. Institutional investors and hedge funds own 67.00% of the company’s stock.
About Bruker Corporation
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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