Bruker Co. (NASDAQ:BRKR) Sees Significant Drop in Short Interest

Bruker Co. (NASDAQ:BRKR) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 1,715,200 shares, a drop of 16.2% from the June 30th total of 2,046,400 shares. Based on an average trading volume of 859,700 shares, the short-interest ratio is presently 2.0 days. Currently, 1.7% of the shares of the company are short sold.

In other Bruker news, CEO Frank H. Laukien sold 400,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $41.48, for a total transaction of $16,592,000.00. Following the completion of the sale, the chief executive officer now directly owns 37,991,030 shares in the company, valued at $1,575,867,924.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 26.50% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in Bruker by 0.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 29,691,185 shares of the medical research company’s stock valued at $1,483,075,000 after purchasing an additional 180,171 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Bruker by 1.5% during the second quarter. Vanguard Group Inc. now owns 10,866,673 shares of the medical research company’s stock worth $542,789,000 after buying an additional 156,591 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Bruker by 5.5% during the first quarter. Acadian Asset Management LLC now owns 4,212,522 shares of the medical research company’s stock worth $161,930,000 after buying an additional 220,700 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Bruker by 1.1% during the second quarter. Janus Henderson Group PLC now owns 3,335,079 shares of the medical research company’s stock worth $166,587,000 after buying an additional 36,643 shares during the last quarter. Finally, AJO LP grew its stake in shares of Bruker by 9.0% during the first quarter. AJO LP now owns 2,229,209 shares of the medical research company’s stock worth $85,691,000 after buying an additional 183,548 shares during the last quarter. Institutional investors and hedge funds own 66.93% of the company’s stock.

Several equities research analysts have issued reports on the stock. ValuEngine downgraded shares of Bruker from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Wolfe Research started coverage on shares of Bruker in a research report on Thursday, May 30th. They issued a “peer perform” rating for the company. Goldman Sachs Group upgraded shares of Bruker from a “sell” rating to a “neutral” rating and lifted their price target for the company from $32.00 to $48.00 in a research report on Monday, July 15th. Barclays reiterated a “hold” rating and issued a $44.00 price target on shares of Bruker in a research report on Monday, June 24th. Finally, BTIG Research lifted their price target on shares of Bruker to $57.00 and gave the company a “buy” rating in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $48.18.

Shares of NASDAQ BRKR traded up $0.19 during midday trading on Thursday, reaching $39.95. The company’s stock had a trading volume of 28,382 shares, compared to its average volume of 1,111,194. The company has a current ratio of 2.12, a quick ratio of 1.27 and a debt-to-equity ratio of 0.42. Bruker has a fifty-two week low of $26.10 and a fifty-two week high of $51.41. The stock’s 50 day moving average price is $47.16. The firm has a market cap of $6.17 billion, a P/E ratio of 28.51, a P/E/G ratio of 1.99 and a beta of 1.30.

Bruker (NASDAQ:BRKR) last released its quarterly earnings results on Thursday, August 1st. The medical research company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Bruker had a net margin of 9.57% and a return on equity of 27.00%. The company had revenue of $490.20 million during the quarter, compared to the consensus estimate of $477.70 million. During the same period in the previous year, the business earned $0.25 earnings per share. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. Sell-side analysts anticipate that Bruker will post 1.61 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.04 per share. The ex-dividend date is Friday, August 30th. This represents a $0.16 annualized dividend and a yield of 0.40%. Bruker’s dividend payout ratio is currently 11.43%.

Bruker Company Profile

Bruker Corporation manufactures and distributes scientific instruments, and analytical and diagnostic solutions in the United States, Europe, the Asia Pacific, and internationally. The company operates in two segments, Bruker Scientific Instruments, and Bruker Energy & Supercon Technologies. It offers life science tools based on magnetic resonance technology; life science mass spectrometry and ion mobility spectrometry solutions; infrared spectroscopy and radiological/nuclear detectors for chemical, biological, radiological, nuclear, and explosive detection in emergency response, homeland security, and defense applications; and research, analytical, and process analysis instruments and solutions based on infrared and Raman molecular spectroscopy technologies.

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