Bruker Corporation (NASDAQ:BRKR) Stock Holdings Reduced by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its holdings in Bruker Corporation by 43.4% during the first quarter, selling 597,406 shares and owning approximately 0.51% of the company valued at $32.5 million.
• Several institutional investors have increased their positions in Bruker, with notable increases of 92.4% and 274.9% from Allworth Financial and MassMutual Private Wealth, respectively.
• Analysts have downgraded Bruker's stock ratings, with Citigroup lowering its target price from $50 to $40, while the average rating is now "Hold" with an average target price of $52.89.

TD Asset Management Inc cut its holdings in shares of Bruker Corporation (NASDAQ:BRKR - Free Report) by 43.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 778,304 shares of the medical research company's stock after selling 597,406 shares during the quarter. TD Asset Management Inc owned approximately 0.51% of Bruker worth $32,486,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Quadrant Capital Group LLC grew its position in shares of Bruker by 18.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,273 shares of the medical research company's stock worth $75,000 after acquiring an additional 196 shares during the last quarter. Insigneo Advisory Services LLC boosted its position in Bruker by 4.7% during the 4th quarter. Insigneo Advisory Services LLC now owns 4,880 shares of the medical research company's stock worth $286,000 after acquiring an additional 218 shares during the period. CGN Advisors LLC boosted its position in Bruker by 1.4% during the 1st quarter. CGN Advisors LLC now owns 22,014 shares of the medical research company's stock worth $919,000 after acquiring an additional 296 shares during the period. New York State Teachers Retirement System boosted its position in Bruker by 0.8% during the 1st quarter. New York State Teachers Retirement System now owns 37,115 shares of the medical research company's stock worth $1,549,000 after acquiring an additional 300 shares during the period. Finally, State of Michigan Retirement System boosted its position in Bruker by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 26,493 shares of the medical research company's stock worth $1,106,000 after acquiring an additional 300 shares during the period. 79.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BRKR shares. Bank of America reduced their price target on Bruker from $61.00 to $50.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Citigroup lowered Bruker from a "strong-buy" rating to a "hold" rating and cut their price objective for the company from $50.00 to $40.00 in a report on Thursday, May 22nd. UBS Group cut their price objective on Bruker from $57.00 to $45.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. The Goldman Sachs Group cut their price objective on Bruker from $50.00 to $45.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Finally, Wells Fargo & Company cut their price objective on Bruker from $75.00 to $60.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $52.89.

Insiders Place Their Bets

In other Bruker news, CEO Frank H. Laukien purchased 2,608 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were purchased at an average cost of $38.36 per share, with a total value of $100,042.88. Following the completion of the transaction, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 27.30% of the company's stock.

Bruker Trading Down 3.1%

Shares of Bruker stock traded down $1.18 on Friday, reaching $37.25. 2,036,704 shares of the company were exchanged, compared to its average volume of 2,331,113. The stock has a fifty day moving average price of $39.89 and a 200-day moving average price of $43.72. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 71.81, a price-to-earnings-growth ratio of 2.75 and a beta of 1.18. The company has a current ratio of 1.57, a quick ratio of 0.74 and a debt-to-equity ratio of 1.13. Bruker Corporation has a fifty-two week low of $34.10 and a fifty-two week high of $72.94.

Bruker (NASDAQ:BRKR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The medical research company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 19.47% and a net margin of 2.31%. Bruker's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 earnings per share. On average, analysts expect that Bruker Corporation will post 2.69 EPS for the current year.

Bruker Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors 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 0.5%. The ex-dividend date of this dividend was Monday, June 16th. Bruker's payout ratio is presently 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.