Q3 2017 Earnings Forecast for Bruker Corporation Issued By Leerink Swann (BRKR)
Bruker Corporation (NASDAQ:BRKR) – Equities researchers at Leerink Swann boosted their Q3 2017 earnings estimates for shares of Bruker Corporation in a research report issued on Friday. Leerink Swann analyst P. Souda now forecasts that the medical research company will earn $0.30 per share for the quarter, up from their prior estimate of $0.27. Leerink Swann also issued estimates for Bruker Corporation’s Q3 2018 earnings at $0.32 EPS.
BRKR has been the topic of several other research reports. Deutsche Bank AG upped their price target on Bruker Corporation from $25.00 to $27.00 and gave the company a “hold” rating in a research note on Monday, May 15th. Cowen and Company reaffirmed a “hold” rating and issued a $29.00 price target on shares of Bruker Corporation in a research note on Friday, July 14th. Barclays PLC reaffirmed an “equal weight” rating and issued a $30.00 price target (up previously from $26.00) on shares of Bruker Corporation in a research note on Monday, July 17th. BidaskClub lowered Bruker Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Finally, Cleveland Research raised Bruker Corporation from a “neutral” rating to a “buy” rating in a research note on Thursday, April 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $27.00.
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Shares of Bruker Corporation (BRKR) opened at 27.75 on Monday. Bruker Corporation has a 52-week low of $19.58 and a 52-week high of $30.02. The stock’s 50 day moving average price is $28.70 and its 200 day moving average price is $25.43. The company has a market capitalization of $4.43 billion, a P/E ratio of 29.46 and a beta of 1.10.
Bruker Corporation (NASDAQ:BRKR) last released its earnings results on Thursday, August 3rd. The medical research company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. Bruker Corporation had a return on equity of 27.18% and a net margin of 9.65%. The business had revenue of $414.90 million during the quarter, compared to the consensus estimate of $384.75 million. During the same period last year, the company earned $0.20 earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year.
Bruker Corporation announced that its Board of Directors has authorized a stock buyback program on Friday, May 12th that authorizes the company to buyback $225.00 million in outstanding shares. This buyback authorization authorizes the medical research company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
In related news, Director Richard Kniss sold 24,000 shares of the stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $28.23, for a total transaction of $677,520.00. Following the transaction, the director now owns 46,753 shares of the company’s stock, valued at approximately $1,319,837.19. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Frank H. Laukien bought 1,920 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were purchased at an average cost of $25.88 per share, for a total transaction of $49,689.60. Following the purchase, the chief executive officer now owns 37,712,851 shares in the company, valued at approximately $976,008,583.88. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 78,120 shares of company stock worth $2,047,366 and have sold 117,624 shares worth $3,271,574. 35.20% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Bruker Corporation by 2.9% in the first quarter. Vanguard Group Inc. now owns 9,832,452 shares of the medical research company’s stock valued at $229,391,000 after buying an additional 277,111 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Bruker Corporation by 648.9% in the first quarter. Canada Pension Plan Investment Board now owns 70,400 shares of the medical research company’s stock valued at $1,642,000 after buying an additional 61,000 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Bruker Corporation by 4.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 524,525 shares of the medical research company’s stock valued at $12,238,000 after buying an additional 24,115 shares during the last quarter. Highbridge Capital Management LLC purchased a new position in Bruker Corporation during the first quarter valued at about $6,030,000. Finally, Parametrica Management Ltd purchased a new position in Bruker Corporation during the first quarter valued at about $309,000. 67.00% of the stock is currently owned by hedge funds and other institutional investors.
Bruker Corporation Company Profile
Bruker Corporation designs and manufactures scientific instruments, and analytical and diagnostic solutions. Its 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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