Zacks Investment Research downgraded shares of Bruker (NASDAQ:BRKR) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday, January 3rd.
According to Zacks, “Over the past three months, Bruker has been observed to trade above the broader industry. Of late, the company’s Scientific Instruments segment has been performing well where growth was driven by strong results within NANO and CALID groups. The company raising 2017 guidance, is indicative of brighter prospects. Moving on, the company’s strategic acquisition activity has been encouraging. In this context, the company recently announced the completion of acquisition of Germany-based MERLIN whose products can complement Bruker’s MALDI Biotyper platform. On the flip side, currency fluctuations, competitive landscape and macroeconomic headwinds continue to pose challenges for the company.”
Other analysts have also recently issued research reports about the stock. Cowen restated a hold rating and issued a $35.00 price objective on shares of Bruker in a research report on Thursday, December 21st. Morgan Stanley restated an equal weight rating and issued a $35.00 price objective on shares of Bruker in a research report on Thursday, December 14th. Citigroup upped their target price on shares of Bruker from $29.00 to $34.00 and gave the stock a neutral rating in a research note on Friday, November 3rd. 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 note on Friday, November 3rd. Finally, JPMorgan Chase & Co. raised shares of Bruker from an underweight rating to a neutral rating and set a $28.00 target price for the company in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $32.38.
Bruker (NASDAQ:BRKR) last issued its earnings results on Thursday, November 2nd. The medical research company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. The company had revenue of $435.60 million during the quarter, compared to analysts’ expectations of $415.45 million. Bruker had a net margin of 8.85% and a return on equity of 25.83%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS. equities research analysts anticipate that Bruker will post 1.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Monday, December 4th were issued a $0.04 dividend. The ex-dividend date of this dividend was Friday, December 1st. This represents a $0.16 annualized dividend and a yield of 0.46%. Bruker’s dividend payout ratio is currently 17.02%.
Institutional investors and hedge funds have recently made changes to their positions in the company. AJO LP acquired a new stake in shares of Bruker during the 2nd quarter worth approximately $46,075,000. First Trust Advisors LP boosted its position in Bruker by 1,689.7% in the third quarter. First Trust Advisors LP now owns 502,159 shares of the medical research company’s stock valued at $14,939,000 after buying an additional 474,101 shares in the last quarter. Prudential Financial Inc. boosted its position in Bruker by 292.8% in the third quarter. Prudential Financial Inc. now owns 567,002 shares of the medical research company’s stock valued at $16,868,000 after buying an additional 422,660 shares in the last quarter. Koch Industries Inc. boosted its position in Bruker by 2,573.5% in the second quarter. Koch Industries Inc. now owns 334,774 shares of the medical research company’s stock valued at $324,000 after buying an additional 322,252 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Bruker in the second quarter valued at approximately $6,806,000. 65.60% of the stock is currently owned by institutional investors.
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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