Bruker (NASDAQ:BRKR) Sets New 12-Month Low After Earnings Miss

Key Points

• Bruker Corporation shares hit a new 52-week low at $32.27 after reporting weaker than expected earnings, with an EPS of $0.32 falling short of the $0.43 analysts anticipated.
• The company also announced a quarterly dividend of $0.05 per share, resulting in an annualized yield of 0.6% and a payout ratio of 38.46%.
• Various analysts have downgraded Bruker's stock, with price targets reduced significantly, indicating cautious sentiment in the market despite some firms maintaining a "buy" rating.

Shares of Bruker Corporation (NASDAQ:BRKR - Get Free Report) hit a new 52-week low on Monday following a weaker than expected earnings announcement. The stock traded as low as $32.27 and last traded at $33.45, with a volume of 1126349 shares traded. The stock had previously closed at $37.99.

The medical research company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). Bruker had a net margin of 2.31% and a return on equity of 17.89%. The firm had revenue of $797.40 million during the quarter, compared to analyst estimates of $811.17 million. During the same period in the previous year, the company earned $0.52 earnings per share. Bruker's revenue was down .4% on a year-over-year basis.

Bruker Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Monday, June 16th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 16th. Bruker's dividend payout ratio is presently 38.46%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wells Fargo & Company lowered their price target on shares of Bruker from $60.00 to $50.00 and set an "overweight" rating on the stock in a report on Tuesday. The Goldman Sachs Group lowered their target price on shares of Bruker from $50.00 to $45.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Bank of America reduced their price target on shares of Bruker from $61.00 to $50.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Barclays set a $43.00 price target on shares of Bruker and gave the stock an "overweight" rating in a research report on Monday. Finally, Stifel Nicolaus set a $40.00 price target on shares of Bruker and gave the stock a "hold" rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $51.30.

Insider Buying and Selling

In other Bruker news, CEO Frank H. Laukien acquired 2,608 shares of the business's stock in a transaction on Friday, June 6th. The stock was bought at an average price of $38.36 per share, for a total transaction of $100,042.88. Following the acquisition, the chief executive officer owned 38,462,171 shares in the company, valued at approximately $1,475,408,879.56. The trade was a 0.01% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 27.30% of the company's stock.

Institutional Trading of Bruker

A number of hedge funds have recently bought and sold shares of BRKR. Teacher Retirement System of Texas increased its holdings in shares of Bruker by 5.1% during the 1st quarter. Teacher Retirement System of Texas now owns 29,045 shares of the medical research company's stock worth $1,212,000 after buying an additional 1,422 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Bruker by 54.2% during the 1st quarter. Fifth Third Bancorp now owns 1,109 shares of the medical research company's stock worth $46,000 after buying an additional 390 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Bruker by 81.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 29,826 shares of the medical research company's stock worth $1,245,000 after buying an additional 13,367 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in shares of Bruker by 38.0% during the 1st quarter. OneDigital Investment Advisors LLC now owns 5,522 shares of the medical research company's stock worth $230,000 after buying an additional 1,520 shares during the last quarter. Finally, Sterling Capital Management LLC increased its holdings in shares of Bruker by 29.0% during the 4th quarter. Sterling Capital Management LLC now owns 3,514 shares of the medical research company's stock worth $206,000 after buying an additional 791 shares during the last quarter. Institutional investors and hedge funds own 79.52% of the company's stock.

Bruker Price Performance

The stock's fifty day moving average price is $39.83 and its 200-day moving average price is $43.12. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 60.21, a P/E/G ratio of 2.34 and a beta of 1.16. The company has a current ratio of 1.61, a quick ratio of 0.74 and a debt-to-equity ratio of 1.31.

Bruker Company Profile

Bruker Corporation, together with its subsidiaries, develops, manufactures, and distributes scientific instruments, and analytical and diagnostic solutions in the United States, Europe, the Asia Pacific, and internationally. The company operates through four segments: Bruker Scientific Instruments (BSI) BioSpin, BSI CALID, BSI Nano, and Bruker Energy & Supercon Technologies.