Citigroup Inc. Raises Bruker Corporation (BRKR) Price Target to $34.00
Bruker Corporation (NASDAQ:BRKR) had its target price increased by investment analysts at Citigroup Inc. from $29.00 to $34.00 in a report issued on Friday. The brokerage currently has a “neutral” rating on the medical research company’s stock. Citigroup Inc.’s price objective would suggest a potential upside of 1.98% from the company’s previous close.
Several other analysts have also recently weighed in on the stock. Cowen and Company reiterated a “hold” rating and issued a $29.00 price target on shares of Bruker Corporation in a report on Friday, July 14th. Zacks Investment Research upgraded shares of Bruker Corporation from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Thursday, July 6th. Barclays PLC reiterated an “equal weight” rating and issued a $30.00 price target (up previously from $26.00) on shares of Bruker Corporation in a report on Monday, July 17th. Wells Fargo & Company cut shares of Bruker Corporation from a “market perform” rating to an “underperform” rating in a report on Wednesday, July 12th. Finally, BidaskClub cut shares of Bruker Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $28.58.
Shares of Bruker Corporation (NASDAQ BRKR) traded up $2.04 during midday trading on Friday, hitting $33.34. 2,030,000 shares of the company traded hands, compared to its average volume of 444,070. The company has a current ratio of 2.63, a quick ratio of 1.61 and a debt-to-equity ratio of 0.56. Bruker Corporation has a 12 month low of $21.03 and a 12 month high of $35.16. The stock has a market capitalization of $5,279.46, a P/E ratio of 28.50, a price-to-earnings-growth ratio of 3.44 and a beta of 1.05.
Bruker Corporation (NASDAQ:BRKR) last issued its earnings results on Thursday, November 2nd. The medical research company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. Bruker Corporation had a net margin of 8.85% and a return on equity of 25.93%. The company had revenue of $435.60 million for the quarter, compared to the consensus estimate of $415.45 million. During the same period in the previous year, the firm earned $0.32 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. equities analysts predict that Bruker Corporation will post 1.17 EPS for the current year.
In other news, CEO Frank H. Laukien purchased 2,335 shares of the company’s stock in a transaction that occurred on 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 purchase, the chief executive officer now directly owns 37,791,386 shares in the company, valued at approximately $1,035,106,062.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Mark Munch sold 21,061 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was 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 owns 60,524 shares in the company, valued at approximately $1,813,904.28. The disclosure for this sale can be found here. Insiders own 35.20% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Jennison Associates LLC purchased a new position in Bruker Corporation in the 3rd quarter worth about $1,776,000. Prudential Financial Inc. raised its position in Bruker Corporation by 292.8% in the 3rd quarter. Prudential Financial Inc. now owns 567,002 shares of the medical research company’s stock worth $16,868,000 after buying an additional 422,660 shares during the last quarter. Palisade Capital Management LLC NJ raised its position in Bruker Corporation by 11.9% in the 3rd quarter. Palisade Capital Management LLC NJ now owns 563,496 shares of the medical research company’s stock worth $16,764,000 after buying an additional 59,862 shares during the last quarter. Bridge City Capital LLC raised its position in Bruker Corporation by 8.7% in the 3rd quarter. Bridge City Capital LLC now owns 73,741 shares of the medical research company’s stock worth $2,194,000 after buying an additional 5,908 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in Bruker Corporation in the 3rd quarter worth about $259,000. 65.74% of the stock is owned by institutional investors and hedge funds.
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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