Engineers Gate Manager LP Buys Shares of 33,181 Bruker Corporation (BRKR)
Engineers Gate Manager LP bought a new position in Bruker Corporation (NASDAQ:BRKR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 33,181 shares of the medical research company’s stock, valued at approximately $957,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sheaff Brock Investment Advisors LLC purchased a new position in shares of Bruker Corporation in the 2nd quarter worth $237,000. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Bruker Corporation by 50.3% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 240,305 shares of the medical research company’s stock worth $6,930,000 after buying an additional 80,400 shares during the period. Eagle Asset Management Inc. raised its position in shares of Bruker Corporation by 18.3% in the 2nd quarter. Eagle Asset Management Inc. now owns 585,996 shares of the medical research company’s stock worth $16,900,000 after buying an additional 90,767 shares during the period. Scout Investments Inc. raised its position in shares of Bruker Corporation by 1.3% in the 2nd quarter. Scout Investments Inc. now owns 173,625 shares of the medical research company’s stock worth $5,007,000 after buying an additional 2,300 shares during the period. Finally, Keybank National Association OH raised its position in shares of Bruker Corporation by 4.1% in the 2nd quarter. Keybank National Association OH now owns 51,482 shares of the medical research company’s stock worth $1,485,000 after buying an additional 2,016 shares during the period. 65.42% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Mark Munch sold 21,061 shares of Bruker Corporation stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $29.97, for a total value of $631,198.17. Following the completion of the sale, the vice president now owns 60,524 shares of the company’s stock, valued at approximately $1,813,904.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Frank H. Laukien acquired 2,335 shares of Bruker Corporation stock in a transaction that occurred on Thursday, August 10th. The stock was acquired at an average cost of $27.39 per share, with a total value of $63,955.65. Following the purchase, the chief executive officer now owns 37,791,386 shares in the company, valued at approximately $1,035,106,062.54. The disclosure for this purchase can be found here. 35.20% of the stock is currently owned by insiders.
BRKR has been the topic of several research reports. Zacks Investment Research raised Bruker Corporation from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Thursday, July 6th. Wells Fargo & Company lowered Bruker Corporation from a “market perform” rating to an “underperform” rating in a research report on Wednesday, July 12th. Cowen and Company reaffirmed a “hold” rating and issued a $29.00 target price on shares of Bruker Corporation in a research report on Friday, July 14th. Barclays PLC reaffirmed an “equal weight” rating and issued a $30.00 target price (up from $26.00) on shares of Bruker Corporation in a research report on Monday, July 17th. Finally, BidaskClub lowered Bruker Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $27.00.
Shares of Bruker Corporation (NASDAQ:BRKR) opened at 30.08 on Friday. The company has a 50-day moving average price of $28.44 and a 200 day moving average price of $26.42. Bruker Corporation has a one year low of $19.59 and a one year high of $30.22. The firm has a market capitalization of $4.77 billion, a P/E ratio of 30.00 and a beta of 1.10.
Bruker Corporation (NASDAQ:BRKR) last released its quarterly earnings data on Thursday, August 3rd. The medical research company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. Bruker Corporation had a net margin of 9.65% and a return on equity of 26.66%. The business had revenue of $414.90 million during the quarter, compared to analyst estimates of $384.75 million. During the same quarter in the previous year, the business earned $0.20 EPS. Bruker Corporation’s quarterly revenue was up 11.6% compared to the same quarter last year. Analysts expect that Bruker Corporation will post $1.12 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Thursday, August 31st. Bruker Corporation’s payout ratio is presently 16.00%.
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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