Bruker (NASDAQ:BRKR) Raised to “Neutral” at Goldman Sachs Group
Goldman Sachs Group upgraded shares of Bruker (NASDAQ:BRKR) from a sell rating to a neutral rating in a research note published on Monday, Benzinga reports. Goldman Sachs Group currently has $48.00 target price on the medical research company’s stock, up from their previous target price of $32.00.
Other equities research analysts also recently issued reports about the stock. Svb Leerink reiterated an outperform rating on shares of Arcus Biosciences in a research report on Friday, May 3rd. BTIG Research lifted their price target on shares of Bruker to $57.00 and gave the company a buy rating in a research report on Friday, June 21st. Barclays reiterated an overweight rating and set a GBX 310 ($4.05) price target on shares of in a research report on Monday, June 24th. Needham & Company LLC lifted their price target on shares of from $50.00 to $53.00 in a research report on Monday, June 24th. Finally, Deutsche Bank lifted their price target on shares of Prudential Financial from $97.00 to $104.00 and gave the company a hold rating in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Bruker has a consensus rating of Buy and a consensus price target of $48.18.
Shares of NASDAQ:BRKR opened at $48.48 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.27 and a current ratio of 2.12. The firm has a market capitalization of $7.78 billion, a P/E ratio of 34.45, a P/E/G ratio of 2.43 and a beta of 1.32. Bruker has a 52 week low of $26.10 and a 52 week high of $51.41. The firm has a 50-day moving average price of $47.18.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Monday, June 3rd were given a dividend of $0.04 per share. The ex-dividend date was Friday, May 31st. This represents a $0.16 annualized dividend and a dividend yield of 0.33%. Bruker’s dividend payout ratio is currently 11.43%.
In other Bruker news, CEO Frank H. Laukien sold 400,000 shares of Bruker stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $41.48, for a total value of $16,592,000.00. Following the completion of the sale, the chief executive officer now directly owns 37,991,030 shares of the company’s stock, valued at approximately $1,575,867,924.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marc A. Kastner sold 1,374 shares of Bruker stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $41.79, for a total transaction of $57,419.46. Following the completion of the sale, the director now directly owns 10,811 shares of the company’s stock, valued at $451,791.69. The disclosure for this sale can be found here. Insiders have sold a total of 801,374 shares of company stock valued at $33,241,419 over the last 90 days. Insiders own 26.50% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Deutsche Bank AG grew its stake in Bruker by 94.0% in the 4th quarter. Deutsche Bank AG now owns 578,945 shares of the medical research company’s stock worth $17,232,000 after acquiring an additional 280,533 shares during the period. Dimensional Fund Advisors LP grew its stake in Bruker by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,013,763 shares of the medical research company’s stock worth $30,178,000 after acquiring an additional 46,244 shares during the period. WCM Investment Management LLC purchased a new stake in Bruker in the 1st quarter worth approximately $1,624,000. California Public Employees Retirement System grew its stake in Bruker by 25.9% in the 1st quarter. California Public Employees Retirement System now owns 268,050 shares of the medical research company’s stock worth $10,304,000 after acquiring an additional 55,189 shares during the period. Finally, Millennium Management LLC grew its stake in Bruker by 42.4% in the 4th quarter. Millennium Management LLC now owns 740,643 shares of the medical research company’s stock worth $22,049,000 after acquiring an additional 220,482 shares during the period. 66.73% of the stock is owned by hedge funds and other institutional investors.
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 solutions; 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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