Cubist Systematic Strategies LLC reduced its stake in shares of Bruker Co. (NASDAQ:BRKR) by 37.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 10,255 shares of the medical research company’s stock after selling 6,223 shares during the period. Cubist Systematic Strategies LLC’s holdings in Bruker were worth $305,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of BRKR. Schwab Charles Investment Management Inc. lifted its holdings in shares of Bruker by 5.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 555,025 shares of the medical research company’s stock worth $16,007,000 after acquiring an additional 30,500 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Bruker during the 2nd quarter worth $809,000. SG Americas Securities LLC bought a new stake in shares of Bruker during the 2nd quarter worth $111,000. Bank of New York Mellon Corp lifted its stake in Bruker by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 704,066 shares of the medical research company’s stock worth $20,305,000 after purchasing an additional 20,688 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Bruker by 10.7% in the second quarter. Legal & General Group Plc now owns 38,646 shares of the medical research company’s stock worth $1,114,000 after purchasing an additional 3,741 shares during the last quarter. 65.60% of the stock is owned by institutional investors.
Several research firms have weighed in on BRKR. Zacks Investment Research raised shares of Bruker from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Wednesday, November 8th. Bank of America raised shares of Bruker from an “underperform” rating to a “neutral” rating and set a $34.00 price target for the company in a research note on Friday, November 3rd. Cowen reissued a “hold” rating and issued a $29.00 price target on shares of Bruker in a research note on Friday, November 3rd. JPMorgan Chase & Co. raised shares of Bruker from an “underweight” rating to a “neutral” rating and set a $28.00 price target for the company in a research note on Friday, November 3rd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $35.00 price target on shares of Bruker in a research note on Thursday, December 14th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. Bruker has an average rating of “Hold” and an average price target of $31.58.
Bruker (NASDAQ:BRKR) last released its quarterly earnings data on Thursday, November 2nd. The medical research company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. Bruker had a net margin of 8.85% and a return on equity of 25.83%. The firm had revenue of $435.60 million for the quarter, compared to analysts’ expectations of $415.45 million. During the same quarter in the previous year, the company earned $0.32 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. equities research analysts expect that Bruker Co. will post 1.19 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Monday, December 4th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Friday, December 1st. Bruker’s payout ratio is 17.02%.
Bruker Company Profile
Bruker Corporation designs and manufactures scientific instruments, and analytical and diagnostic solutions. Its segments include the Bruker BioSpin Group; the Bruker Chemicals, Applied Markets, Life Science, In-Vitro Diagnostics, Detection (CALID) Group; the Bruker Nano Group, and the Bruker Energy & Supercon Technologies (BEST) Segment.
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