Bruker Corporation (BRKR) Expected to Announce Quarterly Sales of $414.24 Million
Wall Street analysts expect that Bruker Corporation (NASDAQ:BRKR) will report sales of $414.24 million for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Bruker Corporation’s earnings, with estimates ranging from $402.00 million to $420.50 million. Bruker Corporation posted sales of $393.90 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.2%. The business is scheduled to announce its next quarterly earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Bruker Corporation will report full-year sales of $414.24 million for the current fiscal year, with estimates ranging from $1.68 billion to $1.77 billion. For the next fiscal year, analysts expect that the company will report sales of $1.76 billion per share, with estimates ranging from $1.70 billion to $1.80 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Bruker Corporation.
Bruker Corporation (NASDAQ:BRKR) last released its earnings results on Thursday, August 3rd. The medical research company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Bruker Corporation had a return on equity of 26.66% and a net margin of 9.65%. The firm had revenue of $414.90 million for the quarter, compared to analysts’ expectations of $384.75 million. During the same period in the prior year, the firm posted $0.20 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis.
Several research analysts have recently commented on BRKR shares. Deutsche Bank AG boosted their price target on Bruker Corporation from $25.00 to $27.00 and gave the stock a “hold” rating in a research report on Monday, May 15th. BidaskClub lowered Bruker Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Barclays PLC reissued an “equal weight” rating and issued a $30.00 price target (up from $26.00) on shares of Bruker Corporation in a research report on Monday, July 17th. Cowen and Company reissued a “hold” rating and issued a $29.00 price target on shares of Bruker Corporation in a research report on Friday, July 14th. Finally, Cleveland Research raised Bruker Corporation from a “neutral” rating to a “buy” rating in a research report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $27.00.
Shares of Bruker Corporation (NASDAQ BRKR) opened at 27.90 on Tuesday. The stock has a market capitalization of $4.43 billion, a PE ratio of 27.82 and a beta of 1.10. Bruker Corporation has a 1-year low of $19.58 and a 1-year high of $30.22. The stock has a 50 day moving average price of $28.55 and a 200-day moving average price of $25.74.
Bruker Corporation declared that its Board of Directors has initiated a stock buyback plan on Friday, May 12th that allows the company to buyback $225.00 million in outstanding shares. This buyback authorization allows the medical research company to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.57%. The ex-dividend date is Thursday, August 31st. Bruker Corporation’s dividend payout ratio is currently 16.00%.
In other Bruker Corporation news, CEO Frank H. Laukien bought 3,200 shares of Bruker Corporation stock in a transaction that occurred on Friday, May 19th. The shares were bought at an average cost of $26.13 per share, with a total value of $83,616.00. Following the transaction, the chief executive officer now directly owns 37,789,051 shares of the company’s stock, valued at approximately $987,427,902.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frank H. Laukien bought 73,000 shares of Bruker Corporation stock in a transaction that occurred on Thursday, May 18th. The shares were acquired at an average cost of $26.22 per share, for a total transaction of $1,914,060.00. Following the completion of the transaction, the chief executive officer now directly owns 37,750,851 shares in the company, valued at $989,827,313.22. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 78,535 shares of company stock worth $2,061,632 and have sold 117,624 shares worth $3,271,574. Corporate insiders own 35.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of 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 in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of 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 in the last quarter. Canada Pension Plan Investment Board raised its position in shares of 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 in the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Bruker Corporation during the first quarter valued at about $6,030,000. Finally, Parametrica Management Ltd acquired a new position in shares of Bruker Corporation during the first quarter valued at about $309,000. 66.44% of the stock is currently owned by institutional investors.
About Bruker Corporation
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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