Bruker Corporation (NASDAQ:BRKR) Issues FY17 Earnings Guidance

Bruker Corporation (NASDAQ:BRKR) issued an update on its FY17 earnings guidance on Thursday morning. The company provided EPS guidance of $1.08 to $1.12 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.10. The company issued revenue guidance of +4.5-6% to $1.68-1.71 billion, compared to the consensus revenue estimate of $1.68 billion.

Shares of Bruker Corporation (NASDAQ:BRKR) traded down 2.07% during trading on Friday, hitting $27.88. 1,417,533 shares of the company’s stock were exchanged. Bruker Corporation has a 1-year low of $19.58 and a 1-year high of $30.22. The stock’s 50-day moving average price is $28.70 and its 200-day moving average price is $25.43. The stock has a market cap of $4.45 billion, a PE ratio of 29.60 and a beta of 1.10.

Bruker Corporation (NASDAQ:BRKR) last posted its quarterly earnings results on Thursday, August 3rd. The medical research company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Bruker Corporation had a net margin of 9.65% and a return on equity of 27.18%. The company had revenue of $414.90 million for the quarter, compared to the consensus estimate of $384.75 million. During the same period last year, the company posted $0.20 EPS. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities analysts expect that Bruker Corporation will post $1.10 earnings per share for the current fiscal year.

Bruker Corporation announced that its board has approved a stock repurchase program on Friday, May 12th that allows the company to buyback $225.00 million in outstanding shares. This buyback authorization allows the medical research company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

BRKR has been the topic of several recent research reports. Cleveland Research upgraded shares of Bruker Corporation from a neutral rating to a buy rating in a research report on Thursday, April 27th. Cowen and Company restated a hold rating and set a $29.00 price target on shares of Bruker Corporation in a report on Friday, July 14th. Zacks Investment Research upgraded shares of Bruker Corporation from a hold rating to a buy rating and set a $33.00 price target for the company in a report on Thursday, July 6th. Deutsche Bank AG raised their price target on shares of Bruker Corporation from $25.00 to $27.00 and gave the stock a hold rating in a report on Friday, May 5th. Finally, Jefferies Group LLC reiterated a buy rating and issued a $29.00 price objective on shares of Bruker Corporation in a research note on Friday, May 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $27.00.

In other news, VP Mark Munch sold 73,724 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $27.62, for a total transaction of $2,036,256.88. Following the completion of the sale, the vice president now owns 106,602 shares of the company’s stock, valued at $2,944,347.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Frank H. Laukien acquired 1,920 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were bought at an average cost of $25.88 per share, with a total value of $49,689.60. Following the purchase, the chief executive officer now owns 37,712,851 shares of the company’s stock, valued at approximately $976,008,583.88. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 78,120 shares of company stock worth $2,047,366 and sold 117,624 shares worth $3,271,574. 35.20% of the stock is currently owned by corporate insiders.

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About Bruker Corporation

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.