Bruker Corporation to Post Q3 2017 Earnings of $0.30 Per Share, Leerink Swann Forecasts (NASDAQ:BRKR)
Bruker Corporation (NASDAQ:BRKR) – Equities researchers at Leerink Swann lifted their Q3 2017 EPS estimates for Bruker Corporation in a note issued to investors on Friday. Leerink Swann analyst P. Souda now forecasts that the medical research company will post earnings per share of $0.30 for the quarter, up from their previous estimate of $0.27. Leerink Swann also issued estimates for Bruker Corporation’s Q3 2018 earnings at $0.32 EPS.
Bruker Corporation (NASDAQ:BRKR) last issued its quarterly earnings results on Thursday, August 3rd. The medical research company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The business had revenue of $414.90 million for the quarter, compared to analyst estimates of $384.75 million. Bruker Corporation had a return on equity of 27.18% and a net margin of 9.65%. Bruker Corporation’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company posted $0.20 earnings per share.
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BRKR has been the topic of several other reports. Cowen and Company increased their target price on Bruker Corporation from $25.00 to $27.00 and gave the company a “market perform” rating in a research note on Thursday, May 4th. Cleveland Research upgraded Bruker Corporation from a “neutral” rating to a “buy” rating in a research note on Thursday, April 27th. Deutsche Bank AG increased their target price on Bruker Corporation from $25.00 to $27.00 and gave the company a “hold” rating in a research note on Monday, May 15th. Jefferies Group LLC reiterated a “buy” rating and set a $29.00 target price on shares of Bruker Corporation in a research note on Friday, May 5th. Finally, Barclays PLC reiterated an “equal weight” rating and set a $30.00 target price (up from $26.00) on shares of Bruker Corporation in a research note on Monday, July 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $27.00.
Shares of Bruker Corporation (NASDAQ BRKR) opened at 27.88 on Monday. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 29.60 and a beta of 1.10. The company’s 50-day moving average price is $28.70 and its 200-day moving average price is $25.43. Bruker Corporation has a one year low of $19.58 and a one year high of $30.22.
Bruker Corporation declared that its board has initiated a share buyback program on Friday, May 12th that permits the company to repurchase $225.00 million in outstanding shares. This repurchase authorization permits the medical research company to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
In other news, Director Richard Kniss sold 24,000 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $28.23, for a total value 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ingen Chris Van sold 19,900 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $28.03, for a total value of $557,797.00. Following the completion of the transaction, the director now owns 14,577 shares in the company, valued at $408,593.31. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 78,120 shares of company stock worth $2,047,366 and sold 117,624 shares worth $3,271,574. Company insiders own 35.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Federated Investors Inc. PA increased its position in Bruker Corporation by 0.3% in the second quarter. Federated Investors Inc. PA now owns 60,553 shares of the medical research company’s stock worth $1,746,000 after buying an additional 204 shares during the period. Cadence Capital Management LLC purchased a new position in Bruker Corporation during the second quarter worth about $1,304,000. Marshall Wace LLP increased its position in Bruker Corporation by 6.0% in the second quarter. Marshall Wace LLP now owns 160,580 shares of the medical research company’s stock worth $4,657,000 after buying an additional 9,065 shares during the period. Marshall Wace North America L.P. increased its position in Bruker Corporation by 13.6% in the second quarter. Marshall Wace North America L.P. now owns 1,430,133 shares of the medical research company’s stock worth $41,474,000 after buying an additional 170,863 shares during the period. Finally, Legal & General Group Plc increased its position in Bruker Corporation by 10.7% in the second quarter. Legal & General Group Plc now owns 38,646 shares of the medical research company’s stock worth $1,114,000 after buying an additional 3,741 shares during the period. Hedge funds and other institutional investors own 67.00% of the company’s stock.
Bruker Corporation Company 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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