Envestnet Asset Management Inc. lifted its stake in Bruker Corporation (NASDAQ:BRKR - Free Report) by 7.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 380,096 shares of the medical research company's stock after buying an additional 25,990 shares during the period. Envestnet Asset Management Inc. owned approximately 0.25% of Bruker worth $15,865,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. VELA Investment Management LLC raised its stake in shares of Bruker by 239.2% during the first quarter. VELA Investment Management LLC now owns 68,663 shares of the medical research company's stock worth $2,866,000 after purchasing an additional 48,422 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake 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 purchasing an additional 1,520 shares during the period. Palisade Capital Management LP grew its position in Bruker by 6.4% during the first quarter. Palisade Capital Management LP now owns 674,925 shares of the medical research company's stock worth $28,171,000 after buying an additional 40,564 shares during the period. Teacher Retirement System of Texas boosted its stake 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 acquiring an additional 1,422 shares in the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE acquired a new position in Bruker during the first quarter worth $8,695,000. Hedge funds and other institutional investors own 79.52% of the company's stock.
Bruker Stock Up 1.6%
Shares of NASDAQ:BRKR opened at $42.19 on Friday. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 81.13, a price-to-earnings-growth ratio of 2.79 and a beta of 1.18. Bruker Corporation has a 1-year low of $34.10 and a 1-year high of $72.94. The company's fifty day moving average is $39.37 and its two-hundred day moving average is $45.10. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.74 and a current ratio of 1.57.
Bruker (NASDAQ:BRKR - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The medical research company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. The business had revenue of $801.40 million during the quarter, compared to analyst estimates of $763.83 million. Bruker had a net margin of 2.31% and a return on equity of 19.47%. The company's quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share. Equities analysts anticipate that Bruker Corporation will post 2.69 EPS for the current year.
Bruker Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Monday, June 16th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, June 16th. This represents a $0.20 annualized dividend and a yield of 0.47%. Bruker's dividend payout ratio is currently 38.46%.
Insider Buying and Selling
In related news, CEO Frank H. Laukien purchased 2,608 shares of the company's stock in a transaction on Friday, June 6th. The shares were bought at an average price of $38.36 per share, with a total value of $100,042.88. Following the completion of the acquisition, the chief executive officer owned 38,462,171 shares of the company's stock, valued at approximately $1,475,408,879.56. This represents a 0.01% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 27.30% of the company's stock.
Analyst Ratings Changes
Several equities analysts have weighed in on the stock. Wells Fargo & Company dropped their target price 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. UBS Group cut their target price on shares of Bruker from $57.00 to $45.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. The Goldman Sachs Group reduced their price objective 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. 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 note on Thursday, May 22nd. Finally, Barclays dropped their target price on Bruker from $50.00 to $46.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $52.89.
Read Our Latest Report on BRKR
About Bruker
(
Free Report)
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.
Featured Stories
Want to see what other hedge funds are holding BRKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bruker Corporation (NASDAQ:BRKR - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Bruker, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bruker wasn't on the list.
While Bruker currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
