Piermont Capital Management Inc. Has $1.32 Million Stake in Bruker Corporation (BRKR)
Piermont Capital Management Inc. lowered its stake in shares of Bruker Corporation (NASDAQ:BRKR) by 15.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 45,870 shares of the medical research company’s stock after selling 8,574 shares during the quarter. Piermont Capital Management Inc.’s holdings in Bruker Corporation were worth $1,323,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC increased its position in shares of Bruker Corporation by 496.1% during the 2nd quarter. Acrospire Investment Management LLC now owns 3,827 shares of the medical research company’s stock valued at $110,000 after purchasing an additional 3,185 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Bruker Corporation during the 2nd quarter valued at approximately $111,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Bruker Corporation by 11.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,599 shares of the medical research company’s stock valued at $133,000 after purchasing an additional 467 shares during the last quarter. Smithfield Trust Co. bought a new position in shares of Bruker Corporation during the 2nd quarter valued at approximately $138,000. Finally, Capstone Asset Management Co. bought a new position in shares of Bruker Corporation during the 1st quarter valued at approximately $203,000. 65.42% of the stock is currently owned by hedge funds and other institutional investors.
BRKR has been the topic of several analyst reports. Cowen and Company reissued a “hold” rating and set a $29.00 target price on shares of Bruker Corporation in a research report on Friday, July 14th. Zacks Investment Research upgraded Bruker Corporation from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Thursday, July 6th. Barclays PLC restated an “equal weight” rating and set a $30.00 price objective (up previously from $26.00) on shares of Bruker Corporation in a report on Monday, July 17th. Wells Fargo & Company cut Bruker Corporation from a “market perform” rating to an “underperform” rating in a report on Wednesday, July 12th. Finally, BidaskClub cut Bruker Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Bruker Corporation currently has an average rating of “Hold” and a consensus price target of $27.00.
In other news, VP Mark Munch sold 21,061 shares of Bruker Corporation stock in a transaction on Wednesday, September 13th. The stock was 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 directly owns 60,524 shares of the company’s stock, valued at $1,813,904.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Frank H. Laukien acquired 2,335 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was purchased at an average cost of $27.39 per share, with a total value of $63,955.65. Following the completion of the purchase, the chief executive officer now directly owns 37,791,386 shares of the company’s stock, valued at approximately $1,035,106,062.54. The disclosure for this purchase can be found here. 35.20% of the stock is owned by company insiders.
Bruker Corporation (NASDAQ BRKR) opened at 29.36 on Monday. The stock has a market cap of $4.66 billion, a PE ratio of 29.27 and a beta of 1.10. Bruker Corporation has a 12-month low of $19.59 and a 12-month high of $30.23. The company’s 50-day moving average price is $28.57 and its 200-day moving average price is $26.57.
Bruker Corporation (NASDAQ:BRKR) last posted its earnings results on Thursday, August 3rd. The medical research company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. The company had revenue of $414.90 million during the quarter, compared to analysts’ expectations of $384.75 million. Bruker Corporation had a return on equity of 26.66% and a net margin of 9.65%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 earnings per share. On average, equities analysts expect that Bruker Corporation will post $1.12 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th were paid a dividend of $0.04 per share. The ex-dividend date was Thursday, August 31st. This represents a $0.16 annualized dividend and a yield of 0.54%. Bruker Corporation’s dividend payout ratio (DPR) is 16.00%.
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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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