Bruker Corporation’s (BRKR) “Hold” Rating Reaffirmed at Cowen and Company
Bruker Corporation (NASDAQ:BRKR)‘s stock had its “hold” rating reaffirmed by research analysts at Cowen and Company in a research note issued to investors on Friday. They currently have a $29.00 price objective on the medical research company’s stock. Cowen and Company’s target price suggests a potential downside of 13.02% from the company’s previous close.
BRKR has been the topic of several other research reports. Bank of America Corporation raised Bruker Corporation from an “underperform” rating to a “neutral” rating and set a $34.00 price target on the stock in a report on Friday. BidaskClub cut Bruker Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. J P Morgan Chase & Co raised Bruker Corporation from an “underweight” rating to a “neutral” rating and set a $28.00 price target on the stock in a report on Friday. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $24.00 price target on shares of Bruker Corporation in a report on Tuesday, September 26th. Finally, Wells Fargo & Company cut Bruker Corporation from a “market perform” rating to an “underperform” rating in a report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $28.09.
Bruker Corporation (NASDAQ BRKR) traded up $1.45 on Friday, reaching $33.34. 2,025,227 shares of the company’s stock were exchanged, compared to its average volume of 444,070. The stock has a market capitalization of $4.96 billion, a P/E ratio of 26.75 and a beta of 1.05.
Bruker Corporation (NASDAQ:BRKR) last released its earnings results on Thursday, November 2nd. The medical research company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The firm had revenue of $435.60 million during the quarter, compared to the consensus estimate of $415.45 million. Bruker Corporation had a return on equity of 25.93% and a net margin of 8.85%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 earnings per share. equities research analysts predict that Bruker Corporation will post 1.12 EPS for the current year.
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In other news, CEO Frank H. Laukien bought 2,335 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were bought at an average cost of $27.39 per share, with a total value of $63,955.65. Following the purchase, the chief executive officer now directly owns 37,791,386 shares in the company, valued at $1,035,106,062.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Mark Munch sold 21,061 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 60,524 shares in the company, valued at $1,813,904.28. The disclosure for this sale can be found here. 35.20% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the business. Jennison Associates LLC acquired a new stake in Bruker Corporation during the 3rd quarter valued at $1,776,000. Prudential Financial Inc. raised its stake in Bruker Corporation by 292.8% during the 3rd quarter. Prudential Financial Inc. now owns 567,002 shares of the medical research company’s stock valued at $16,868,000 after purchasing an additional 422,660 shares during the period. Palisade Capital Management LLC NJ raised its stake in Bruker Corporation by 11.9% during the 3rd quarter. Palisade Capital Management LLC NJ now owns 563,496 shares of the medical research company’s stock valued at $16,764,000 after purchasing an additional 59,862 shares during the period. Bridge City Capital LLC raised its stake in Bruker Corporation by 8.7% during the 3rd quarter. Bridge City Capital LLC now owns 73,741 shares of the medical research company’s stock valued at $2,194,000 after purchasing an additional 5,908 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new stake in Bruker Corporation during the 3rd quarter valued at $259,000. 65.74% of the stock is currently owned by institutional investors.
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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