Bruker Corporation (BRKR) Posts Earnings Results, Beats Estimates By $0.02 EPS
Bruker Corporation (NASDAQ:BRKR) announced its quarterly earnings data on Thursday. The medical research company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02, Bloomberg Earnings reports. The company had revenue of $435.60 million for the quarter, compared to the consensus estimate of $415.45 million. Bruker Corporation had a return on equity of 26.66% and a net margin of 9.65%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 EPS.
In other news, VP Mark Munch sold 21,061 shares of Bruker Corporation stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $29.97, for a total transaction of $631,198.17. Following the completion of the transaction, the vice president now directly owns 60,524 shares in the company, valued at $1,813,904.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank H. Laukien bought 2,335 shares of the stock in a transaction dated Thursday, August 10th. The shares were acquired at an average price of $27.39 per share, with a total value of $63,955.65. Following the completion of the acquisition, the chief executive officer now directly owns 37,791,386 shares of the company’s stock, valued at approximately $1,035,106,062.54. The disclosure for this purchase can be found here. 35.20% of the stock is currently owned by company insiders.
A hedge fund recently raised its stake in Bruker Corporation stock. The Manufacturers Life Insurance Company grew its holdings in shares of Bruker Corporation (NASDAQ:BRKR) by 7.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,003 shares of the medical research company’s stock after purchasing an additional 331 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Bruker Corporation were worth $144,000 as of its most recent SEC filing. Institutional investors own 65.74% of the company’s stock.
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A number of research analysts have recently issued reports on BRKR shares. Zacks Investment Research raised Bruker Corporation from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Thursday, July 6th. Wells Fargo & Company downgraded Bruker Corporation from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 12th. Cowen and Company reissued a “hold” rating and issued a $29.00 price objective on shares of Bruker Corporation in a research note on Friday, July 14th. Barclays PLC reaffirmed an “equal weight” rating and issued a $30.00 target price (up from $26.00) on shares of Bruker Corporation in a research report on Monday, July 17th. Finally, BidaskClub lowered Bruker Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $26.70.
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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