Piedmont Investment Advisors LLC Buys 15,815 Shares of Bruker Corporation (BRKR)
Piedmont Investment Advisors LLC increased its stake in Bruker Corporation (NASDAQ:BRKR) by 43.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 52,235 shares of the medical research company’s stock after acquiring an additional 15,815 shares during the quarter. Piedmont Investment Advisors LLC’s holdings in Bruker Corporation were worth $1,506,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its holdings in shares of Bruker Corporation by 7.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,003 shares of the medical research company’s stock worth $144,000 after acquiring an additional 331 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Bruker Corporation in the second quarter worth $6,806,000. Cubist Systematic Strategies LLC boosted its position in shares of Bruker Corporation by 186.3% in the second quarter. Cubist Systematic Strategies LLC now owns 16,478 shares of the medical research company’s stock worth $475,000 after buying an additional 10,723 shares during the period. BlueCrest Capital Management Ltd acquired a new stake in shares of Bruker Corporation in the second quarter worth $1,174,000. Finally, State Street Corp boosted its position in shares of Bruker Corporation by 0.5% in the second quarter. State Street Corp now owns 1,407,941 shares of the medical research company’s stock worth $40,605,000 after buying an additional 7,356 shares during the period. Institutional investors and hedge funds own 65.42% of the company’s stock.
Bruker Corporation (NASDAQ:BRKR) traded up 0.10% during mid-day trading on Monday, reaching $30.92. The company had a trading volume of 15,084 shares. The firm’s 50-day moving average price is $29.71 and its 200-day moving average price is $27.44. Bruker Corporation has a 12 month low of $19.59 and a 12 month high of $30.97. The stock has a market cap of $4.91 billion, a PE ratio of 30.83 and a beta of 1.09.
Bruker Corporation (NASDAQ:BRKR) last released its earnings results on Thursday, August 3rd. The medical research company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The firm 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 company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 EPS. Equities research analysts forecast that Bruker Corporation will post $1.12 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Thursday, August 31st. Bruker Corporation’s dividend payout ratio (DPR) is presently 16.00%.
BRKR has been the subject of several recent analyst reports. Zacks Investment Research raised Bruker Corporation from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Thursday, July 6th. Wells Fargo & Company cut 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 previously from $26.00) on shares of Bruker Corporation in a research report on Monday, July 17th. Finally, BidaskClub cut Bruker Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $26.70.
In other Bruker Corporation news, VP Mark Munch sold 21,061 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $29.97, for a total transaction of $631,198.17. Following the completion of the transaction, the vice president now owns 60,524 shares in the company, valued at approximately $1,813,904.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Frank H. Laukien bought 2,335 shares of the stock in a transaction on Thursday, August 10th. The shares were purchased at an average price of $27.39 per share, with a total value of $63,955.65. Following the acquisition, 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 corporate insiders.
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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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