Bruker Corporation $BRKR Stock: ProShare Advisors LLC Reduces Stake

Key Points

• ProShare Advisors cut its Bruker stake by 50.7% in the third quarter, selling 21,173 shares and retaining 20,558 shares valued at about $1.33 million. Institutional investors collectively own 79.52% of the stock.
• Bruker reported quarterly EPS of $0.56, beating the $0.42 consensus, while revenue of $874 million also topped estimates and rose 1.6% year over year.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $60.57. Shares recently traded at $61.31, up 5.6% for the session.

ProShare Advisors LLC trimmed its holdings in shares of Bruker Corporation (NASDAQ:BRKR - Free Report) by 50.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,558 shares of the medical research company's stock after selling 21,173 shares during the quarter. ProShare Advisors LLC's holdings in Bruker were worth $1,331,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BRKR. Global Retirement Partners LLC bought a new position in shares of Bruker in the 2nd quarter worth $38,000. Root Financial Partners LLC bought a new stake in Bruker during the third quarter valued at about $57,000. Essential Partners LLC purchased a new position in Bruker in the first quarter valued at about $36,000. FNY Investment Advisers LLC purchased a new position in Bruker in the second quarter valued at about $60,000. Finally, IFP Advisors Inc raised its holdings in Bruker by 88.6% in the second quarter. IFP Advisors Inc now owns 1,060 shares of the medical research company's stock worth $64,000 after purchasing an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 79.52% of the company's stock.

Insider Buying and Selling at Bruker

In related news, VP Mark Munch sold 2,000 shares of the company's stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $52.87, for a total value of $105,740.00. Following the transaction, the vice president directly owned 134,806 shares of the company's stock, valued at $7,127,193.22. This represents a 1.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 27.20% of the stock is owned by company insiders.

Bruker Stock Up 5.6%

Shares of BRKR stock traded up $3.25 during trading hours on Friday, reaching $61.31. 2,012,693 shares of the company's stock were exchanged, compared to its average volume of 2,182,166. Bruker Corporation has a 1 year low of $32.37 and a 1 year high of $68.98. The company has a current ratio of 1.85, a quick ratio of 0.92 and a debt-to-equity ratio of 0.76. The stock has a market cap of $9.34 billion, a PE ratio of -55.74, a PEG ratio of 1.70 and a beta of 1.26. The stock's fifty day moving average price is $59.01 and its two-hundred day moving average price is $50.59.

Bruker (NASDAQ:BRKR - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The medical research company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.42 by $0.14. The firm had revenue of $874.00 million during the quarter, compared to analyst estimates of $865.16 million. Bruker had a negative net margin of 2.35% and a positive return on equity of 12.47%. Bruker's revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm posted $0.45 EPS. Research analysts predict that Bruker Corporation will post 2.12 EPS for the current year.

Bruker Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Monday, September 21st were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, September 21st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. Bruker's payout ratio is -18.18%.

Analysts Set New Price Targets

Several analysts have commented on BRKR shares. Citigroup increased their price target on shares of Bruker from $53.00 to $64.00 and gave the company a "hold" rating in a research report on Thursday. The Goldman Sachs Group raised shares of Bruker from a "strong sell" rating to a "strong-buy" rating in a research report on Monday, September 21st. Leerink Partners raised their target price on shares of Bruker from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday. Barclays lifted their price target on shares of Bruker from $58.00 to $70.00 and gave the stock an "overweight" rating in a report on Wednesday, October 7th. Finally, Guggenheim upped their price target on Bruker from $70.00 to $72.00 and gave the stock a "buy" rating in a research report on Thursday, October 1st. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Bruker currently has an average rating of "Moderate Buy" and an average target price of $60.57.

Bruker Profile

Bruker Corporation develops and manufactures scientific instruments, analytical systems and related software used to study materials, molecules and biological processes. Its technologies support research, discovery and quality control in fields including life sciences, pharmaceutical development, chemical analysis, materials science, environmental testing and clinical research.

The company's product portfolio includes nuclear magnetic resonance and electron paramagnetic resonance systems, mass spectrometers, infrared and Raman spectroscopy instruments, X-ray analysis equipment, microscopy and nanoanalysis systems, and preclinical imaging technologies.

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