Point72 Asset Management L.P. Sells 64,065 Shares of Bruker Co. (NASDAQ:BRKR)
Point72 Asset Management L.P. lowered its position in Bruker Co. (NASDAQ:BRKR) by 36.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 112,734 shares of the medical research company’s stock after selling 64,065 shares during the period. Point72 Asset Management L.P. owned 0.07% of Bruker worth $4,952,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Boston Advisors LLC raised its holdings in shares of Bruker by 28.9% during the 2nd quarter. Boston Advisors LLC now owns 58,908 shares of the medical research company’s stock valued at $2,942,000 after purchasing an additional 13,203 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Bruker by 1.1% during the second quarter. Janus Henderson Group PLC now owns 3,335,079 shares of the medical research company’s stock valued at $166,587,000 after buying an additional 36,643 shares in the last quarter. Virginia Retirement Systems ET AL acquired a new stake in shares of Bruker in the second quarter worth about $340,000. HWG Holdings LP acquired a new stake in shares of Bruker in the second quarter worth about $172,000. Finally, Mckinley Capital Management LLC Delaware bought a new stake in shares of Bruker during the 2nd quarter worth about $5,326,000. Hedge funds and other institutional investors own 68.93% of the company’s stock.
In related news, Director Marc A. Kastner sold 3,203 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $47.39, for a total transaction of $151,790.17. Following the completion of the transaction, the director now directly owns 7,608 shares in the company, valued at approximately $360,543.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Burkhard Prause sold 15,702 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $42.96, for a total transaction of $674,557.92. Following the completion of the sale, the chief executive officer now directly owns 1,338 shares of the company’s stock, valued at $57,480.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,108 shares of company stock valued at $2,849,941. Corporate insiders own 26.50% of the company’s stock.
Bruker (NASDAQ:BRKR) last announced its earnings results on Thursday, October 31st. The medical research company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.05. The firm had revenue of $521.10 million during the quarter, compared to the consensus estimate of $493.52 million. Bruker had a return on equity of 28.02% and a net margin of 10.20%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 EPS. Research analysts forecast that Bruker Co. will post 1.62 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.04 per share. The ex-dividend date is Friday, November 29th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.32%. Bruker’s dividend payout ratio (DPR) is presently 11.43%.
A number of brokerages have recently commented on BRKR. ValuEngine raised Bruker from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Bank of America upgraded Bruker from a “neutral” rating to a “buy” rating and set a $52.00 target price for the company in a report on Thursday, September 26th. Stifel Nicolaus started coverage on Bruker in a research report on Thursday, November 14th. They set a “hold” rating and a $53.00 target price for the company. BidaskClub upgraded Bruker from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Needham & Company LLC set a $58.00 price target on shares of Bruker and gave the company a “buy” rating in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $50.91.
Bruker Company Profile
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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