Bruker Corporation $BRKR Shares Purchased by Bank of Nova Scotia

Bank of Nova Scotia grew its position in shares of Bruker Corporation (NASDAQ:BRKR) by 222.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 218,254 shares of the medical research company’s stock after purchasing an additional 150,554 shares during the period. Bank of Nova Scotia’s holdings in Bruker were worth $8,992,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Amundi boosted its holdings in Bruker by 373.3% in the first quarter. Amundi now owns 42,503 shares of the medical research company’s stock valued at $1,774,000 after acquiring an additional 33,522 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Bruker by 71.2% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,293,645 shares of the medical research company’s stock worth $53,298,000 after purchasing an additional 537,845 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Bruker by 35.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 40,450 shares of the medical research company’s stock valued at $1,717,000 after purchasing an additional 10,624 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Bruker by 60.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 55,672 shares of the medical research company’s stock worth $2,294,000 after purchasing an additional 21,043 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its holdings in shares of Bruker by 39.0% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 51,828 shares of the medical research company’s stock worth $2,135,000 after purchasing an additional 14,547 shares during the period. 79.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wolfe Research raised shares of Bruker from a “peer perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a research report on Wednesday. Rothschild Redb raised shares of Bruker to a “strong-buy” rating in a research note on Thursday, November 20th. Rothschild & Co Redburn assumed coverage on shares of Bruker in a report on Thursday, November 20th. They set a “buy” rating and a $60.00 target price on the stock. TD Cowen upped their price target on shares of Bruker from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Finally, Redburn Partners set a $60.00 price objective on Bruker in a research report on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $50.62.

Bruker Price Performance

Shares of BRKR stock opened at $46.92 on Thursday. Bruker Corporation has a twelve month low of $28.53 and a twelve month high of $64.64. The company has a market capitalization of $7.13 billion, a PE ratio of -293.25, a price-to-earnings-growth ratio of 6.68 and a beta of 1.17. The company has a current ratio of 1.85, a quick ratio of 0.91 and a debt-to-equity ratio of 0.81. The firm has a fifty day simple moving average of $41.28 and a 200-day simple moving average of $38.19.

Bruker (NASDAQ:BRKR) last posted its quarterly earnings data on Monday, November 3rd. The medical research company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.12. The company had revenue of $860.50 million during the quarter, compared to analysts’ expectations of $847.40 million. Bruker had a negative net margin of 0.61% and a positive return on equity of 15.45%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 EPS. Bruker has set its FY 2025 guidance at 1.850-1.90 EPS. Equities research analysts anticipate that Bruker Corporation will post 2.69 earnings per share for the current fiscal year.

Bruker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 8th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, December 8th. Bruker’s dividend payout ratio (DPR) is -125.00%.

Insider Buying and Selling

In other news, Director Cynthia M. Friend sold 3,535 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $32.25, for a total transaction of $114,003.75. Following the completion of the sale, the director owned 18,016 shares of the company’s stock, valued at approximately $581,016. This trade represents a 16.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John A. Ornell sold 6,233 shares of Bruker stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $39.00, for a total transaction of $243,087.00. Following the completion of the sale, the director owned 35,212 shares of the company’s stock, valued at approximately $1,373,268. This trade represents a 15.04% decrease in their position. The disclosure for this sale is available in the SEC filing. 27.30% of the stock is owned by company insiders.

About Bruker

Bruker Corporation, together with its subsidiaries, develops, manufactures, and distributes scientific instruments, and analytical and diagnostic solutions in the United States, Europe, the Asia Pacific, and internationally. The company operates through four segments: Bruker Scientific Instruments (BSI) BioSpin, BSI CALID, BSI Nano, and Bruker Energy & Supercon Technologies.