Massachusetts Financial Services Co. MA Reduces Position in Bruker Corporation (NASDAQ:BRKR)

Massachusetts Financial Services Co. MA lessened its holdings in shares of Bruker Corporation (NASDAQ:BRKR - Free Report) by 18.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,396,120 shares of the medical research company's stock after selling 556,183 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.58% of Bruker worth $100,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in BRKR. London Co. of Virginia raised its holdings 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 worth $245,820,000 after purchasing an additional 1,843,294 shares during the last quarter. Sculptor Capital LP increased its holdings 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 buying an additional 1,420,569 shares in the last quarter. FIL Ltd increased its holdings 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 buying an additional 1,420,102 shares in the last quarter. Steadfast Capital Management LP purchased a new position in Bruker in the fourth quarter valued at $63,997,000. Finally, Norges Bank purchased a new position in Bruker in the fourth quarter valued at $63,378,000. Hedge funds and other institutional investors own 79.52% of the company's stock.

Insider Activity at Bruker

In related news, CEO Frank H. Laukien acquired 2,608 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were purchased at an average cost of $38.36 per share, for a total transaction of $100,042.88. Following the acquisition, the chief executive officer owned 38,462,171 shares in the company, valued at $1,475,408,879.56. The trade was a 0.01% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 27.30% of the company's stock.

Wall Street Analyst Weigh In

BRKR has been the subject of a number of recent analyst reports. UBS Group cut their price objective on shares of Bruker from $57.00 to $45.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Bank of America cut their price objective on shares of Bruker from $61.00 to $50.00 and set a "buy" rating for the company in a report on Thursday, June 26th. The Goldman Sachs Group cut their target price on shares of Bruker from $50.00 to $45.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Citigroup cut shares of Bruker from a "strong-buy" rating to a "hold" rating and cut their target price for the stock from $50.00 to $40.00 in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company cut their target price on shares of Bruker from $75.00 to $60.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Six equities research analysts have rated the stock with a hold rating and four have given 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.

Bruker Price Performance

BRKR traded down $1.64 on Friday, reaching $40.55. 2,181,482 shares of the company's stock were exchanged, compared to its average volume of 1,788,987. The stock has a market cap of $6.14 billion, a PE ratio of 77.98, a P/E/G ratio of 2.73 and a beta of 1.18. Bruker Corporation has a twelve month low of $34.10 and a twelve month high of $72.94. The stock's fifty day moving average price is $39.43 and its 200-day moving average price is $44.89. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.57 and a quick ratio of 0.74.

Bruker (NASDAQ:BRKR - Get Free Report) last posted its earnings results on Wednesday, May 7th. The medical research company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. The company had revenue of $801.40 million for 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%. Bruker's revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 EPS. Sell-side analysts expect that Bruker Corporation will post 2.69 EPS for the current year.

Bruker Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Monday, June 16th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.20 annualized dividend and a dividend yield of 0.49%. Bruker's dividend payout ratio is currently 38.46%.

Bruker 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.