Bruker Corporation $BRKR Stock Sold by M&G PLC

Key Points

• M&G PLC cut its Bruker stake by 62.2% in the third quarter, selling 699,911 shares; it retained 425,645 shares valued at about $27.7 million.
• Bruker reported quarterly EPS of $0.56, topping the $0.42 consensus, while revenue of $874 million also exceeded estimates and rose 1.6% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $60.57; shares were reported up 8.5% and opened at $66.54.

M&G PLC lowered its holdings in shares of Bruker Corporation (NASDAQ:BRKR - Free Report) by 62.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 425,645 shares of the medical research company's stock after selling 699,911 shares during the period. M&G PLC owned about 0.28% of Bruker worth $27,667,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. AlphaCore Capital LLC acquired a new position in shares of Bruker in the 3rd quarter valued at $410,000. Allspring Global Investments Holdings LLC boosted its position in shares of Bruker by 5.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 169,766 shares of the medical research company's stock valued at $10,515,000 after acquiring an additional 8,938 shares in the last quarter. Brighton Jones LLC boosted its position in shares of Bruker by 11.2% during the 3rd quarter. Brighton Jones LLC now owns 12,436 shares of the medical research company's stock valued at $805,000 after acquiring an additional 1,248 shares in the last quarter. Candriam S.C.A. boosted its position in shares of Bruker by 0.9% during the 3rd quarter. Candriam S.C.A. now owns 415,327 shares of the medical research company's stock valued at $26,991,000 after acquiring an additional 3,627 shares in the last quarter. Finally, Kestra Advisory Services LLC increased its stake in Bruker by 6.0% in the third quarter. Kestra Advisory Services LLC now owns 4,947 shares of the medical research company's stock valued at $320,000 after acquiring an additional 282 shares during the period. Institutional investors own 79.52% of the company's stock.

Insider Activity at Bruker

In other news, VP Mark Munch sold 2,000 shares of the firm'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 completion of the sale, the vice president directly owned 134,806 shares in the company, valued at approximately $7,127,193.22. This trade represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 27.20% of the company's stock.

Bruker Stock Up 8.5%

Shares of BRKR opened at $66.54 on Tuesday. The company has a market capitalization of $10.14 billion, a P/E ratio of -60.49, a PEG ratio of 1.95 and a beta of 1.26. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.84 and a quick ratio of 0.92. Bruker Corporation has a one year low of $32.37 and a one year high of $68.98. The business's 50 day simple moving average is $59.20 and its 200-day simple moving average is $50.66.

Bruker (NASDAQ:BRKR - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The medical research company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.14. Bruker had a positive return on equity of 13.76% and a negative net margin of 3.82%. The business had revenue of $874.00 million for the quarter, compared to analyst estimates of $865.16 million. During the same period in the prior year, the company earned $0.45 EPS. Bruker's revenue for the quarter was up 1.6% on a year-over-year basis. As a group, sell-side analysts predict that Bruker Corporation will post 2.13 EPS for the current fiscal year.

Bruker Dividend Announcement

The firm also recently announced 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. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 21st. Bruker's dividend payout ratio is presently -18.18%.

Wall Street Analyst Weigh In

BRKR has been the subject of several recent research reports. Zacks Research lowered shares of Bruker from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. downgraded Bruker from an "overweight" rating to a "neutral" rating and set a $60.00 price objective on the stock. in a report on Wednesday, October 14th. TD Cowen upped their price objective on Bruker from $60.00 to $62.00 and gave the company a "hold" rating in a research note on Tuesday, October 13th. Barclays upped their price objective on Bruker from $58.00 to $70.00 and gave the company an "overweight" rating in a research note on Wednesday, October 7th. Finally, Guggenheim increased their target price on Bruker from $70.00 to $72.00 and gave the stock a "buy" rating in a report on Thursday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $60.57.

About Bruker

Bruker develops and manufactures scientific instruments and analytical technologies used to study biological, chemical and physical materials. Its products support research and testing in areas including life sciences, pharmaceuticals, biotechnology, materials science, chemicals and clinical diagnostics.

The company's offerings include nuclear magnetic resonance and electron paramagnetic resonance systems, mass spectrometers, X-ray and microscopy instruments, and infrared and Raman spectroscopy solutions.

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