Zacks Investment Research upgraded shares of Bruker (NASDAQ:BRKR) from a hold rating to a buy rating in a research note released on Friday morning. Zacks Investment Research currently has $34.00 price objective on the medical research company’s stock.
According to Zacks, “Bruker exited the first quarter on a solid note with strong year-over-year increase in revenues as well as earnings. Of late, the company’s Scientific Instruments segment has been performing well driven by strong results from NANO and BEST groups. The expansion in gross and operating margins buoys optimism. The company’s acquisition activity has been encouraging, the recent one being the buyout of Anasys Instruments in the field of Raman and FTIR spectrometers, as well as nanoscale surface science instruments. We are also upbeat about its focus on product development through higher R&D. Over the past three months, Bruker has been outperforming its industry. On the flip side, macroeconomic headwinds continue to pose challenges. Also, rising product development costs is a concern. Further, Bruker’s core BioSpin division faces fierce competition from companies offering magnetic resonance spectrometers.”
Several other research firms also recently weighed in on BRKR. Leerink Swann increased their price target on shares of Bruker from $32.00 to $34.00 and gave the stock a market perform rating in a research report on Friday, February 9th. BidaskClub downgraded shares of Bruker from a buy rating to a hold rating in a research report on Saturday, February 10th. Morgan Stanley decreased their price target on shares of Bruker from $35.00 to $32.00 and set an equal weight rating on the stock in a research report on Friday, February 9th. BTIG Research set a $42.00 price target on shares of Bruker and gave the stock a buy rating in a research report on Sunday, May 6th. Finally, Bank of America decreased their price target on shares of Bruker from $37.00 to $34.00 and set a neutral rating on the stock in a research report on Friday, May 4th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $32.91.
Bruker (NASDAQ:BRKR) last released its quarterly earnings results on Thursday, May 3rd. The medical research company reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.02. Bruker had a net margin of 4.63% and a return on equity of 27.04%. The business had revenue of $431.70 million for the quarter, compared to the consensus estimate of $419.25 million. During the same period last year, the firm earned $0.19 earnings per share. The company’s quarterly revenue was up 12.2% on a year-over-year basis. equities analysts anticipate that Bruker will post 1.39 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 22nd. Stockholders of record on Monday, June 4th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Friday, June 1st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.51%. Bruker’s dividend payout ratio (DPR) is presently 13.22%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Montreal Can increased its stake in shares of Bruker by 346.7% in the fourth quarter. Bank of Montreal Can now owns 3,708 shares of the medical research company’s stock worth $128,000 after purchasing an additional 2,878 shares in the last quarter. Meeder Asset Management Inc. increased its stake in shares of Bruker by 501.4% in the first quarter. Meeder Asset Management Inc. now owns 4,697 shares of the medical research company’s stock worth $140,000 after purchasing an additional 3,916 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Bruker in the fourth quarter worth $145,000. TLP Group LLC purchased a new stake in shares of Bruker in the first quarter worth $190,000. Finally, Wolverine Trading LLC purchased a new stake in shares of Bruker in the fourth quarter worth $201,000. 65.55% of the stock is owned by hedge funds and other institutional investors.
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 systems; 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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