Bruker Corporation (BRKR) Receives “Equal Weight” Rating from Barclays PLC
Bruker Corporation (NASDAQ:BRKR)‘s stock had its “equal weight” rating reiterated by investment analysts at Barclays PLC in a report released on Monday. They presently have a $30.00 price target on the medical research company’s stock, up from their previous price target of $26.00. Barclays PLC’s price target indicates a potential upside of 2.81% from the company’s previous close.
BRKR has been the subject of a number of other reports. Cowen and Company lifted their price objective on shares of Bruker Corporation from $25.00 to $27.00 and gave the stock a “market perform” rating in a research note on Thursday, May 4th. Cleveland Research raised shares of Bruker Corporation from a “neutral” rating to a “buy” rating in a research note on Thursday, April 27th. Deutsche Bank AG lifted their price objective on shares of Bruker Corporation from $25.00 to $27.00 and gave the stock a “hold” rating in a research note on Monday, May 15th. Jefferies Group LLC reissued a “buy” rating and issued a $29.00 price objective on shares of Bruker Corporation in a research note on Friday, May 5th. Finally, Zacks Investment Research raised shares of Bruker Corporation from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Thursday, July 6th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $26.46.
Bruker Corporation (NASDAQ BRKR) traded up 0.66% during mid-day trading on Monday, reaching $29.18. 314,532 shares of the company’s stock traded hands. Bruker Corporation has a 12-month low of $19.58 and a 12-month high of $30.02. The stock has a market capitalization of $4.66 billion, a PE ratio of 30.98 and a beta of 1.10. The stock has a 50-day moving average price of $27.44 and a 200-day moving average price of $24.28.
Bruker Corporation (NASDAQ:BRKR) last posted its earnings results on Wednesday, May 3rd. The medical research company reported $0.19 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.19. The company had revenue of $384.90 million during the quarter, compared to analysts’ expectations of $372.59 million. Bruker Corporation had a net margin of 9.35% and a return on equity of 26.88%. Bruker Corporation’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the company posted $0.21 earnings per share. Equities research analysts expect that Bruker Corporation will post $1.10 EPS for the current year.
Bruker Corporation declared that its board has approved a share repurchase plan 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 buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
In other Bruker Corporation news, Director Ingen Chris Van sold 19,900 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $28.03, for a total transaction of $557,797.00. Following the transaction, the director now owns 14,577 shares of the company’s stock, valued at approximately $408,593.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Kniss sold 24,000 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $28.23, for a total transaction of $677,520.00. Following the transaction, the director now directly owns 46,753 shares in the company, valued at approximately $1,319,837.19. The disclosure for this sale can be found here. In the last three months, insiders have acquired 78,120 shares of company stock worth $2,047,366 and have sold 117,624 shares worth $3,271,574. Company insiders own 35.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of BRKR. Advisory Services Network LLC purchased a new position in shares of Bruker Corporation during the first quarter worth about $150,000. Canada Pension Plan Investment Board increased its position in shares of Bruker Corporation by 648.9% in the first quarter. Canada Pension Plan Investment Board now owns 70,400 shares of the medical research company’s stock worth $1,642,000 after buying an additional 61,000 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Bruker Corporation by 7.0% in the first quarter. Wells Fargo & Company MN now owns 849,870 shares of the medical research company’s stock worth $19,826,000 after buying an additional 55,454 shares during the last quarter. First Quadrant L P CA increased its position in shares of Bruker Corporation by 11.7% in the first quarter. First Quadrant L P CA now owns 713,478 shares of the medical research company’s stock worth $16,645,000 after buying an additional 74,807 shares during the last quarter. Finally, Evanson Asset Management LLC purchased a new position in shares of Bruker Corporation during the first quarter worth about $444,000. 67.45% of the stock is currently owned by institutional investors and hedge funds.
About Bruker Corporation
Bruker Corporation is a developer, manufacturer and distributor of scientific instruments and analytical and diagnostic solutions that enable its customers to explore life and materials at microscopic, molecular and cellular levels. The Company’s segments include Bruker Scientific Instruments (BSI) and Bruker Energy & Supercon Technologies (BEST).
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