Wells Fargo & Company MN boosted its stake in shares of Bruker Co. (NASDAQ:BRKR) by 17.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 302,497 shares of the medical research company’s stock after buying an additional 45,118 shares during the quarter. Wells Fargo & Company MN owned 0.20% of Bruker worth $22,984,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. O Shaughnessy Asset Management LLC lifted its holdings in shares of Bruker by 394.0% in the second quarter. O Shaughnessy Asset Management LLC now owns 410 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 327 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Bruker by 1,063.8% in the second quarter. IFP Advisors Inc now owns 547 shares of the medical research company’s stock valued at $42,000 after purchasing an additional 500 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Bruker by 31.1% in the second quarter. Parallel Advisors LLC now owns 578 shares of the medical research company’s stock valued at $44,000 after purchasing an additional 137 shares in the last quarter. Arkadios Wealth Advisors purchased a new stake in shares of Bruker in the second quarter valued at about $75,000. Finally, USA Financial Portformulas Corp purchased a new stake in shares of Bruker in the second quarter valued at about $119,000. Institutional investors own 68.95% of the company’s stock.
A number of research firms have weighed in on BRKR. SVB Leerink increased their price target on shares of Bruker from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, September 9th. Wells Fargo & Company increased their price objective on shares of Bruker from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 2nd. Citigroup increased their price objective on shares of Bruker from $75.00 to $85.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 3rd. Finally, Zacks Investment Research raised shares of Bruker from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research report on Tuesday, September 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $74.30.
Bruker (NASDAQ:BRKR) last released its quarterly earnings results on Monday, November 1st. The medical research company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.19. The business had revenue of $608.90 million during the quarter, compared to analyst estimates of $575.33 million. Bruker had a net margin of 11.44% and a return on equity of 31.48%. The business’s revenue was up 19.1% on a year-over-year basis. During the same period last year, the business earned $0.42 EPS. On average, analysts forecast that Bruker Co. will post 2.09 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 17th. Investors of record on Wednesday, December 1st will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend is Tuesday, November 30th. Bruker’s payout ratio is 9.04%.
Bruker Corp. engages in the development, manufacture, and distribution of scientific instruments, and analytical and diagnostic solutions that enable customers to explore life and materials at microscopic, molecular, and cellular levels. It operates through the following segments: Bruker Scientific Instruments (BSI) Life Science, BSI Nano, and Bruker Energy and Supercon Technologies (BEST).
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