Zacks Investment Research Downgrades Bruker Corporation (BRKR) to Hold
Bruker Corporation (NASDAQ:BRKR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “Bruker exited the third quarter on a solid note with better-than-expected earnings and revenue performance. Scientific Instruments segment performed well where growth was driven by strong results within NANO and CALID groups. The company also raised 2017 guidance, which is indicative of brighter prospects. Moving on, the company’s strategic acquisition activity has been encouraging. In this context, the company recently announced the completion of acquisition of Germany-based MERLIN whose products can complement Bruker’s MALDI Biotyper platform. Following its promising third quarter 2017 performance, Bruker has been observed to trade above the broader industry over the past three months. On the flip side, currency fluctuations, competitive landscape and macroeconomic headwinds continue to pose challenges for the company.”
BRKR has been the topic of several other reports. Bank of America Corporation raised Bruker Corporation from an “underperform” rating to a “neutral” rating and set a $34.00 price objective on the stock in a research note on Friday, November 3rd. BidaskClub cut Bruker Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Cowen and Company reaffirmed a “hold” rating and set a $29.00 target price on shares of Bruker Corporation in a research note on Friday, November 3rd. J P Morgan Chase & Co raised Bruker Corporation from an “underweight” rating to a “neutral” rating and set a $28.00 target price on the stock in a research note on Friday, November 3rd. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $30.00 target price (up previously from $26.00) on shares of Bruker Corporation in a research note on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. Bruker Corporation currently has a consensus rating of “Hold” and a consensus target price of $29.64.
Shares of Bruker Corporation (NASDAQ:BRKR) traded down $0.58 during midday trading on Friday, reaching $31.83. The company’s stock had a trading volume of 944,200 shares, compared to its average volume of 632,677. The company has a quick ratio of 1.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.65. Bruker Corporation has a 52 week low of $21.03 and a 52 week high of $35.16. The company has a market capitalization of $4,951.56, a PE ratio of 27.20, a P/E/G ratio of 2.69 and a beta of 1.05.
Bruker Corporation (NASDAQ:BRKR) last issued its quarterly earnings data on Thursday, November 2nd. The medical research company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Bruker Corporation had a return on equity of 25.83% and a net margin of 8.85%. The company had revenue of $435.60 million for the quarter, compared to analysts’ expectations of $415.45 million. During the same period in the previous year, the firm posted $0.32 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. equities analysts predict that Bruker Corporation will post 1.19 EPS for the current year.
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In related news, VP Mark Munch sold 21,061 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $29.97, for a total value of $631,198.17. Following the transaction, the vice president now owns 60,524 shares of the company’s stock, valued at $1,813,904.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 35.20% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of BRKR. Acrospire Investment Management LLC lifted its holdings in Bruker Corporation by 496.1% during the second quarter. Acrospire Investment Management LLC now owns 3,827 shares of the medical research company’s stock worth $110,000 after buying an additional 3,185 shares during the period. SG Americas Securities LLC purchased a new stake in Bruker Corporation during the second quarter worth $111,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Bruker Corporation by 11.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,599 shares of the medical research company’s stock worth $133,000 after buying an additional 467 shares during the period. Smithfield Trust Co. purchased a new stake in Bruker Corporation during the second quarter worth $138,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Bruker Corporation by 7.1% during the second quarter. The Manufacturers Life Insurance Company now owns 5,003 shares of the medical research company’s stock worth $144,000 after buying an additional 331 shares during the period. Institutional investors own 65.47% 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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