Bruker Stock Price Up 5.2% on Strong Earnings (BRKR)
Shares of Bruker (NASDAQ:BRKR) rose 5.2% during mid-day trading on Thursday following a better than expected earnings announcement, AnalystRatings.Net reports. The stock traded as high as $22.74 and last traded at $21.68, with a volume of 740,084 shares traded. The stock had previously closed at $20.60.
The company reported $0.11 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.09 by $0.02. The company had revenue of $423.70 million for the quarter, compared to the consensus estimate of $402.04 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis.
A number of research firms have recently commented on BRKR. Analysts at ISI Group cut their price target on shares of Bruker to $24.50 in a research note on Thursday. Separately, analysts at TheStreet upgraded shares of Bruker from a “hold” rating to a “buy” rating in a research note on Tuesday, March 25th. Finally, analysts at Macquarie raised their price target on shares of Bruker from $23.00 to $28.00 in a research note on Wednesday, March 5th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Bruker has a consensus rating of “Buy” and an average price target of $24.32.
The stock has a 50-day moving average of $21.89 and a 200-day moving average of $20.87. The company has a market cap of $3.435 billion and a price-to-earnings ratio of 42.92.
Bruker Corporation (NASDAQ:BRKR) is a global manufacturer of scientific instruments that address the rapidly evolving needs of a diverse array of customers in life science, pharmaceutical, biotechnology, clinical and molecular diagnostics research, as well as in materials and chemical analysis in various industries and government applications.
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