Bank of New York Mellon Corp Sells 67,555 Shares of Bruker Corporation (NASDAQ:BRKR)

Bank of New York Mellon Corp trimmed its holdings in Bruker Corporation (NASDAQ:BRKR - Free Report) by 6.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 921,308 shares of the medical research company's stock after selling 67,555 shares during the quarter. Bank of New York Mellon Corp owned about 0.61% of Bruker worth $38,455,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BRKR. London Co. of Virginia lifted its stake in shares of Bruker by 78.4% during the fourth quarter. London Co. of Virginia now owns 4,193,454 shares of the medical research company's stock valued at $245,820,000 after acquiring an additional 1,843,294 shares during the period. Brown Advisory Inc. raised its stake in shares of Bruker by 10.1% during the fourth quarter. Brown Advisory Inc. now owns 2,026,712 shares of the medical research company's stock worth $118,806,000 after buying an additional 185,912 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Bruker by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 2,013,741 shares of the medical research company's stock valued at $118,081,000 after buying an additional 20,273 shares during the period. FIL Ltd boosted its stake in Bruker by 262.3% in the fourth quarter. FIL Ltd now owns 1,961,416 shares of the medical research company's stock valued at $114,978,000 after acquiring an additional 1,420,102 shares during the last quarter. Finally, Sculptor Capital LP boosted its stake in Bruker by 484.1% in the fourth quarter. Sculptor Capital LP now owns 1,714,015 shares of the medical research company's stock valued at $100,476,000 after acquiring an additional 1,420,569 shares during the last quarter. Institutional investors and hedge funds own 79.52% of the company's stock.

Bruker Stock Up 1.6%

NASDAQ BRKR traded up $0.65 during trading on Thursday, hitting $42.19. The stock had a trading volume of 2,503,850 shares, compared to its average volume of 1,780,264. Bruker Corporation has a 12 month low of $34.10 and a 12 month high of $72.94. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.74 and a current ratio of 1.57. The company's 50-day moving average price is $39.34 and its two-hundred day moving average price is $45.22. The company has a market capitalization of $6.39 billion, a PE ratio of 81.13, a P/E/G ratio of 2.82 and a beta of 1.18.

Bruker (NASDAQ:BRKR - Get Free Report) last released its earnings results on Wednesday, May 7th. The medical research company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. Bruker had a net margin of 2.31% and a return on equity of 19.47%. The business had revenue of $801.40 million during the quarter, compared to the consensus estimate of $763.83 million. During the same quarter last year, the firm earned $0.53 earnings per share. The firm's revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Bruker Corporation will post 2.69 EPS for the current year.

Bruker Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Monday, June 16th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Monday, June 16th. Bruker's payout ratio is 38.46%.

Analyst Ratings Changes

BRKR has been the topic of several recent research reports. Citigroup lowered Bruker from a "strong-buy" rating to a "hold" rating and reduced their price target for the stock from $50.00 to $40.00 in a research report on Thursday, May 22nd. UBS Group reduced their price objective on shares of Bruker from $57.00 to $45.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Wells Fargo & Company decreased their price objective on shares of Bruker from $75.00 to $60.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Stifel Nicolaus cut their target price on shares of Bruker from $57.00 to $48.00 and set a "hold" rating on the stock in a report on Thursday, May 8th. Finally, The Goldman Sachs Group decreased their price target on shares of Bruker from $50.00 to $45.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $52.89.

Insider Buying and Selling at Bruker

In other Bruker news, CEO Frank H. Laukien bought 2,608 shares of the firm's stock in a transaction on Friday, June 6th. The shares were purchased at an average price of $38.36 per share, for a total transaction of $100,042.88. Following the transaction, the chief executive officer directly owned 38,462,171 shares in the company, valued at approximately $1,475,408,879.56. This trade represents a 0.01% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 27.30% of the company's stock.

About Bruker

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.