Cornerstone Capital Management Holdings LLC. Reduces Stake in Bruker Co. (BRKR)

Cornerstone Capital Management Holdings LLC. lowered its stake in shares of Bruker Co. (NASDAQ:BRKR) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 236,953 shares of the medical research company’s stock after selling 13,510 shares during the period. Cornerstone Capital Management Holdings LLC. owned approximately 0.15% of Bruker worth $7,049,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Acrospire Investment Management LLC raised its holdings in shares of Bruker by 496.1% during the second quarter. Acrospire Investment Management LLC now owns 3,827 shares of the medical research company’s stock valued at $110,000 after purchasing an additional 3,185 shares during the period. SG Americas Securities LLC bought a new stake in shares of Bruker during the second quarter worth about $111,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Bruker by 11.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,599 shares of the medical research company’s stock worth $133,000 after acquiring an additional 467 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Bruker by 7.1% during the second quarter. The Manufacturers Life Insurance Company now owns 5,003 shares of the medical research company’s stock worth $144,000 after acquiring an additional 331 shares in the last quarter. Finally, Advisory Services Network LLC increased its position in shares of Bruker by 6.3% during the second quarter. Advisory Services Network LLC now owns 6,847 shares of the medical research company’s stock worth $197,000 after acquiring an additional 406 shares in the last quarter. Hedge funds and other institutional investors own 65.63% of the company’s stock.

Shares of Bruker Co. (BRKR) opened at $34.19 on Thursday. Bruker Co. has a 52-week low of $21.03 and a 52-week high of $36.53. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.60 and a quick ratio of 1.60. The stock has a market cap of $5,332.69, a PE ratio of 29.30, a price-to-earnings-growth ratio of 2.90 and a beta of 1.12.

Bruker (NASDAQ:BRKR) last issued its quarterly earnings data on Thursday, November 2nd. The medical research company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. Bruker had a net margin of 8.85% and a return on equity of 25.83%. The business had revenue of $435.60 million during the quarter, compared to the consensus estimate of $415.45 million. During the same period in the prior year, the firm posted $0.32 EPS. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. equities analysts predict that Bruker Co. will post 1.19 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Monday, December 4th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Friday, December 1st. Bruker’s payout ratio is 17.02%.

Several equities research analysts have recently commented on BRKR shares. Zacks Investment Research raised shares of Bruker from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Wednesday, November 8th. BidaskClub raised shares of Bruker from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Cowen reissued a “hold” rating and set a $29.00 target price on shares of Bruker in a research report on Friday, November 3rd. Citigroup boosted their target price on shares of Bruker from $29.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Finally, Bank of America raised shares of Bruker from an “underperform” rating to a “neutral” rating and set a $34.00 target price for the company in a research report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $29.64.

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Bruker 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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Institutional Ownership by Quarter for Bruker (NASDAQ:BRKR)

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