Bruker Corporation (BRKR) Reaches New 12-Month High at $30.24
Bruker Corporation (NASDAQ:BRKR) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $30.24 and last traded at $30.24, with a volume of 131,019 shares traded. The stock had previously closed at $29.99.
A number of brokerages recently weighed in on BRKR. BidaskClub cut shares of Bruker Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Cowen and Company reaffirmed a “hold” rating and issued a $29.00 price objective on shares of Bruker Corporation in a research report on Friday, July 14th. Barclays PLC reaffirmed an “equal weight” rating and issued a $30.00 price objective (up previously from $26.00) on shares of Bruker Corporation in a research report on Monday, July 17th. Zacks Investment Research upgraded shares of Bruker Corporation from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Thursday, July 6th. Finally, Goldman Sachs Group, Inc. (The) reissued a “sell” rating and set a $24.00 target price on shares of Bruker Corporation in a research report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $26.70.
The firm’s 50 day moving average is $29.04 and its 200 day moving average is $26.95. The stock has a market capitalization of $4.80 billion, a PE ratio of 30.14 and a beta of 1.09.
Bruker Corporation (NASDAQ:BRKR) last issued its quarterly earnings results on Thursday, August 3rd. The medical research company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. Bruker Corporation had a return on equity of 26.66% and a net margin of 9.65%. The firm had revenue of $414.90 million for the quarter, compared to analyst estimates of $384.75 million. During the same period in the previous year, the company posted $0.20 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts anticipate that Bruker Corporation will post $1.12 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Thursday, August 31st. Bruker Corporation’s payout ratio is presently 16.00%.
In other Bruker Corporation news, CEO Frank H. Laukien purchased 2,335 shares of the stock in a transaction on Thursday, August 10th. The shares were purchased at an average price of $27.39 per share, with a total value of $63,955.65. Following the acquisition, the chief executive officer now directly owns 37,791,386 shares of the company’s stock, valued at approximately $1,035,106,062.54. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Mark Munch sold 21,061 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $29.97, for a total transaction of $631,198.17. Following the completion of the sale, the vice president now directly owns 60,524 shares in the company, valued at approximately $1,813,904.28. The disclosure for this sale can be found here. Corporate insiders own 35.20% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Bruker Corporation by 2.9% during the first quarter. Vanguard Group Inc. now owns 9,832,452 shares of the medical research company’s stock worth $229,391,000 after purchasing an additional 277,111 shares during the period. FMR LLC grew its stake in shares of Bruker Corporation by 26.4% in the 1st quarter. FMR LLC now owns 7,146,000 shares of the medical research company’s stock valued at $166,716,000 after purchasing an additional 1,491,140 shares during the period. BlackRock Inc. grew its stake in shares of Bruker Corporation by 3.0% in the 2nd quarter. BlackRock Inc. now owns 4,747,514 shares of the medical research company’s stock valued at $136,918,000 after purchasing an additional 139,792 shares during the period. Boston Partners grew its stake in shares of Bruker Corporation by 3.6% in the 2nd quarter. Boston Partners now owns 2,773,019 shares of the medical research company’s stock valued at $79,973,000 after purchasing an additional 96,791 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Bruker Corporation by 6.8% in the 2nd quarter. Victory Capital Management Inc. now owns 1,930,209 shares of the medical research company’s stock valued at $55,667,000 after purchasing an additional 123,322 shares during the period. Institutional investors and hedge funds own 65.42% of the company’s stock.
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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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