Bruker Co. (BRKR) Stake Decreased by Massachusetts Financial Services Co. MA
Massachusetts Financial Services Co. MA trimmed its stake in shares of Bruker Co. (NASDAQ:BRKR) by 57.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 16,803 shares of the medical research company’s stock after selling 22,561 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Bruker were worth $562,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC increased its holdings in Bruker by 34.6% in the 3rd quarter. Fisher Asset Management LLC now owns 179,950 shares of the medical research company’s stock worth $6,019,000 after purchasing an additional 46,213 shares in the last quarter. BTIM Corp. increased its holdings in Bruker by 11.0% in the 3rd quarter. BTIM Corp. now owns 790,289 shares of the medical research company’s stock worth $26,435,000 after purchasing an additional 78,001 shares in the last quarter. Cornerstone Wealth Management LLC increased its holdings in Bruker by 15.8% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 27,379 shares of the medical research company’s stock worth $903,000 after purchasing an additional 3,745 shares in the last quarter. Seven Eight Capital LP acquired a new position in Bruker in the 3rd quarter worth about $445,000. Finally, Ramsey Quantitative Systems increased its holdings in Bruker by 25.6% in the 3rd quarter. Ramsey Quantitative Systems now owns 12,906 shares of the medical research company’s stock worth $432,000 after purchasing an additional 2,633 shares in the last quarter. Hedge funds and other institutional investors own 64.86% of the company’s stock.
BRKR has been the subject of a number of recent research reports. BidaskClub raised Bruker from a “hold” rating to a “buy” rating in a report on Friday, August 24th. ValuEngine raised Bruker from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th. Morgan Stanley upped their target price on Bruker from $29.00 to $31.00 and gave the stock an “equal weight” rating in a report on Friday, August 3rd. Finally, UBS Group initiated coverage on Bruker in a report on Tuesday, October 9th. They issued a “sell” rating and a $30.00 target price for the company. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Bruker currently has a consensus rating of “Hold” and an average price target of $34.63.
Bruker (NASDAQ:BRKR) last issued its quarterly earnings results on Thursday, November 1st. The medical research company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.07. The company had revenue of $466.60 million during the quarter, compared to analysts’ expectations of $451.88 million. Bruker had a return on equity of 27.96% and a net margin of 5.24%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 earnings per share. As a group, research analysts predict that Bruker Co. will post 1.4 earnings per share for the current year.
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Bruker Corporation manufactures and distributes scientific instruments, and analytical and diagnostic solutions in the United States, Europe, the Asia Pacific, and internationally. The company operates in two segments, Bruker Scientific Instruments, and Bruker Energy & Supercon Technologies. It offers life science tools based on magnetic resonance technology; life science mass spectrometry and ion mobility spectrometry systems; infrared spectroscopy and radiological/nuclear detectors for chemical, biological, radiological, nuclear, and explosive detection in emergency response, homeland security, and defense applications; and research, analytical, and process analysis instruments and solutions based on infrared and Raman molecular spectroscopy technologies.
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