Scion Asset Management LLC Acquires Shares of 75,000 Bruker Co. (NASDAQ:BRKR)

Scion Asset Management LLC purchased a new stake in shares of Bruker Co. (NASDAQ:BRKR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 75,000 shares of the medical research company's stock, valued at approximately $4,396,000. Bruker comprises about 5.7% of Scion Asset Management LLC's portfolio, making the stock its 8th largest position.

Other hedge funds also recently modified their holdings of the company. UMB Bank n.a. grew its position in shares of Bruker by 37.5% in the 4th quarter. UMB Bank n.a. now owns 909 shares of the medical research company's stock valued at $53,000 after buying an additional 248 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Bruker by 18.2% in 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 period. EverSource Wealth Advisors LLC increased its position in Bruker by 41.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the medical research company's stock valued at $78,000 after purchasing an additional 390 shares during the period. Parvin Asset Management LLC bought a new position in Bruker during the 4th quarter worth approximately $112,000. Finally, GeoWealth Management LLC lifted its position in shares of Bruker by 1,093.9% in the 4th quarter. GeoWealth Management LLC now owns 2,137 shares of the medical research company's stock worth $125,000 after purchasing an additional 1,958 shares during the period. Institutional investors and hedge funds own 79.52% of the company's stock.

Bruker Stock Up 0.0%

NASDAQ:BRKR traded up $0.01 on Thursday, hitting $36.46. The stock had a trading volume of 962,056 shares, compared to its average volume of 1,611,552. The company has a market cap of $5.52 billion, a PE ratio of 47.97, a P/E/G ratio of 2.16 and a beta of 1.23. The business's fifty day moving average is $39.86 and its 200 day moving average is $50.08. The company has a quick ratio of 0.77, a current ratio of 1.60 and a debt-to-equity ratio of 1.15. Bruker Co. has a 52 week low of $34.10 and a 52 week high of $78.94.

Bruker (NASDAQ:BRKR - Get Free Report) last announced its quarterly 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 business had revenue of $801.40 million for the quarter, compared to analysts' expectations of $763.83 million. Bruker had a net margin of 3.36% and a return on equity of 21.01%. The firm's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 EPS. On average, equities research analysts expect that Bruker Co. will post 2.69 EPS for the current fiscal year.

Bruker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 16th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, June 16th. This represents a $0.20 annualized dividend and a dividend yield of 0.55%. Bruker's payout ratio is 38.46%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BRKR shares. Citigroup reissued a "neutral" rating and set a $40.00 target price (down previously from $50.00) on shares of Bruker in a research note on Thursday. Stifel Nicolaus lowered their price objective on Bruker from $57.00 to $48.00 and set a "hold" rating for the company in a research report on Thursday, May 8th. UBS Group dropped their price objective on Bruker from $57.00 to $45.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Barclays decreased 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. Finally, The Goldman Sachs Group dropped their price target on Bruker from $50.00 to $45.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $59.10.

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.