Bruker Corp. (BRKR) Sees Large Volume Increase
Bruker Corp. (NASDAQ:BRKR) shares saw unusually-high trading volume on Wednesday . Approximately 3,451,748 shares traded hands during mid-day trading, an increase of 127% from the previous session’s volume of 1,520,928 shares.The stock last traded at $22.97 and had previously closed at $22.35.
BRKR has been the topic of several research reports. Vetr raised Bruker Corp. from a “sell” rating to a “hold” rating and set a $27.18 target price on the stock in a research report on Wednesday, March 9th. Stifel Nicolaus upped their target price on Bruker Corp. from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, March 14th. Goldman Sachs Group Inc. upped their target price on Bruker Corp. to $21.00 in a research report on Wednesday, March 23rd. Leerink Swann cut Bruker Corp. from an “outperform” rating to a “market perform” rating and set a $27.00 price target for the company. in a research note on Tuesday, April 5th. Finally, Bank of America Corp. cut Bruker Corp. from a “neutral” rating to an “underperform” rating in a research note on Tuesday, April 5th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Bruker Corp. currently has a consensus rating of “Hold” and a consensus target price of $25.69.
The stock has a market capitalization of $3.73 billion and a P/E ratio of 32.77. The company’s 50-day moving average price is $24.80 and its 200 day moving average price is $25.68.
Bruker Corp. (NASDAQ:BRKR) last released its quarterly earnings data on Wednesday, May 4th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. During the same quarter in the prior year, the firm posted $0.14 earnings per share. The business earned $375.40 million during the quarter, compared to analysts’ expectations of $360.37 million. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities analysts predict that Bruker Corp. will post $1.02 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Investors of record on Monday, June 6th were paid a $0.04 dividend. The ex-dividend date was Thursday, June 2nd. This represents a $0.16 dividend on an annualized basis and a yield of 0.70%.
In related news, Director Joerg C. Laukien sold 2,000,000 shares of Bruker Corp. stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $25.65, for a total value of $51,300,000.00. Following the completion of the transaction, the director now directly owns 15,208,795 shares in the company, valued at approximately $390,105,591.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wolf-Dieter Emmerich sold 21,000 shares of Bruker Corp. stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $27.35, for a total transaction of $574,350.00. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at $82,050. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have added to or reduced their stakes in BRKR. Russell Frank Co raised its position in Bruker Corp. by 114.9% in the fourth quarter. Russell Frank Co now owns 262,524 shares of the company’s stock worth $6,553,000 after buying an additional 140,347 shares in the last quarter. American Century Companies Inc. raised its position in Bruker Corp. by 75.8% in the fourth quarter. American Century Companies Inc. now owns 89,566 shares of the company’s stock worth $2,174,000 after buying an additional 38,621 shares in the last quarter. Sei Investments Co. raised its position in Bruker Corp. by 33.5% in the fourth quarter. Sei Investments Co. now owns 199,613 shares of the company’s stock worth $4,845,000 after buying an additional 50,077 shares in the last quarter. Rhumbline Advisers raised its position in Bruker Corp. by 0.6% in the fourth quarter. Rhumbline Advisers now owns 105,409 shares of the company’s stock worth $2,558,000 after buying an additional 580 shares in the last quarter. Finally, Oxford Asset Management raised its position in Bruker Corp. by 3.8% in the fourth quarter. Oxford Asset Management now owns 68,285 shares of the company’s stock worth $1,704,000 after buying an additional 2,503 shares in the last quarter.
Bruker Corporation is a designer and manufacturer of scientific instruments, and analytical and diagnostic solutions. The Company’s operating 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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