Bruker Corporation (BRKR) Raised to “Buy” at BidaskClub
Bruker Corporation (NASDAQ:BRKR) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Wednesday.
Several other equities research analysts also recently commented on BRKR. Jefferies Group LLC reaffirmed a “buy” rating and set a $29.00 price objective on shares of Bruker Corporation in a report on Monday, May 15th. Deutsche Bank AG upped their price objective on shares of Bruker Corporation from $25.00 to $27.00 and gave the company a “hold” rating in a report on Monday, May 15th. Wells Fargo & Company downgraded shares of Bruker Corporation from a “market perform” rating to an “underperform” rating in a report on Wednesday, July 12th. Cowen and Company upped their price objective on shares of Bruker Corporation from $25.00 to $27.00 and gave the company a “market perform” rating in a report on Thursday, May 4th. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $30.00 price objective (up from $26.00) on shares of Bruker Corporation in a report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $27.00.
Bruker Corporation (NASDAQ:BRKR) traded up 0.87% during mid-day trading on Wednesday, hitting $27.97. 490,279 shares of the stock were exchanged. The company has a market capitalization of $4.44 billion, a PE ratio of 27.89 and a beta of 1.10. The stock’s 50-day moving average is $28.51 and its 200 day moving average is $25.78. Bruker Corporation has a 52 week low of $19.58 and a 52 week high of $30.22.
Bruker Corporation (NASDAQ:BRKR) last issued its quarterly earnings results on Thursday, August 3rd. The medical research company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The company had revenue of $414.90 million for the quarter, compared to the consensus estimate of $384.75 million. Bruker Corporation had a net margin of 9.65% and a return on equity of 26.66%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 EPS. On average, analysts anticipate that Bruker Corporation will post $1.12 EPS for the current year.
Bruker Corporation announced that its Board of Directors has authorized a stock buyback plan on Friday, May 12th that authorizes the company to buyback $225.00 million in outstanding shares. This buyback authorization authorizes the medical research company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
In related news, CEO Frank H. Laukien purchased 3,200 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were purchased at an average cost of $26.13 per share, for a total transaction of $83,616.00. Following the completion of the transaction, the chief executive officer now directly owns 37,789,051 shares in the company, valued at approximately $987,427,902.63. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Frank H. Laukien purchased 2,335 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were bought at an average price of $27.39 per share, for a total transaction of $63,955.65. Following the completion of the transaction, the chief executive officer now owns 37,791,386 shares of the company’s stock, valued at $1,035,106,062.54. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 78,535 shares of company stock worth $2,061,632 and have sold 117,624 shares worth $3,271,574. Corporate insiders own 35.20% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Bruker Corporation by 26,266.0% in the first quarter. BlackRock Inc. now owns 4,607,722 shares of the medical research company’s stock valued at $107,498,000 after buying an additional 4,590,246 shares in the last quarter. AJO LP bought a new stake in shares of Bruker Corporation during the second quarter valued at $46,075,000. FMR LLC boosted its stake in shares of Bruker Corporation by 26.4% in the first quarter. FMR LLC now owns 7,146,000 shares of the medical research company’s stock valued at $166,716,000 after buying an additional 1,491,140 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in shares of Bruker Corporation during the first quarter valued at $28,963,000. Finally, Marshall Wace North America L.P. bought a new stake in shares of Bruker Corporation during the first quarter valued at $28,963,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.
About Bruker Corporation
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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