State of Alaska Department of Revenue Sells 29,522 Shares of Bruker Corporation (NASDAQ:BRKR)

State of Alaska Department of Revenue cut its holdings in Bruker Corporation (NASDAQ:BRKR - Free Report) by 69.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,949 shares of the medical research company's stock after selling 29,522 shares during the period. State of Alaska Department of Revenue's holdings in Bruker were worth $540,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its position in shares of Bruker by 274.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,091 shares of the medical research company's stock valued at $46,000 after purchasing an additional 800 shares during the last quarter. Fifth Third Bancorp boosted its stake in Bruker by 54.2% during the 1st quarter. Fifth Third Bancorp now owns 1,109 shares of the medical research company's stock valued at $46,000 after purchasing an additional 390 shares during the period. UMB Bank n.a. grew its holdings in Bruker by 45.8% in the 1st quarter. UMB Bank n.a. now owns 1,325 shares of the medical research company's stock valued at $55,000 after buying an additional 416 shares during the last quarter. Quadrant Capital Group LLC increased its position in Bruker by 18.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,273 shares of the medical research company's stock worth $75,000 after buying an additional 196 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Bruker by 41.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the medical research company's stock worth $78,000 after buying an additional 390 shares during the last quarter. 79.52% of the stock is owned by institutional investors and hedge funds.

Bruker Price Performance

Bruker stock traded down $0.04 on Thursday, reaching $42.42. The company's stock had a trading volume of 1,207,758 shares, compared to its average volume of 2,164,696. Bruker Corporation has a twelve month low of $34.10 and a twelve month high of $72.94. The company has a market cap of $6.43 billion, a price-to-earnings ratio of 81.58, a PEG ratio of 2.81 and a beta of 1.18. 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 business's fifty day moving average price is $38.81 and its 200 day moving average price is $46.24.

Bruker (NASDAQ:BRKR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The medical research company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. The firm had revenue of $801.40 million during the quarter, compared to analysts' expectations of $763.83 million. Bruker had a net margin of 2.31% and a return on equity of 19.47%. Bruker's revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 EPS. Equities analysts expect that Bruker Corporation will post 2.69 earnings per share for the current fiscal year.

Bruker Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Monday, June 16th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, June 16th. Bruker's dividend payout ratio (DPR) is currently 38.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BRKR shares. Stifel Nicolaus lowered their price target on Bruker from $57.00 to $48.00 and set a "hold" rating on the stock in a research note on Thursday, May 8th. The Goldman Sachs Group lowered their price objective on Bruker from $50.00 to $45.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Bank of America reduced their target price on Bruker from $61.00 to $50.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. UBS Group lowered their price target on shares of Bruker from $57.00 to $45.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Finally, Barclays decreased their target price on shares of Bruker from $50.00 to $46.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Bruker has an average rating of "Hold" and an average price target of $52.89.

Insider Activity

In related news, CEO Frank H. Laukien bought 2,608 shares of the business's stock in a transaction on Friday, June 6th. The shares were purchased at an average price of $38.36 per share, with a total value of $100,042.88. Following the completion of the purchase, the chief executive officer owned 38,462,171 shares of the company's stock, valued at $1,475,408,879.56. This represents a 0.01% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 27.30% of the stock is owned by corporate insiders.

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.