AlphaCrest Capital Management LLC Invests $1.77 Million in Bruker Co. (BRKR) Stock
AlphaCrest Capital Management LLC bought a new stake in Bruker Co. (NASDAQ:BRKR) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 46,100 shares of the medical research company’s stock, valued at approximately $1,772,000.
Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Bruker in the fourth quarter worth about $49,346,000. First Trust Advisors LP raised its stake in shares of Bruker by 3,479.9% in the fourth quarter. First Trust Advisors LP now owns 663,285 shares of the medical research company’s stock worth $19,746,000 after buying an additional 644,757 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Bruker by 1,923.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 406,482 shares of the medical research company’s stock worth $12,101,000 after buying an additional 386,390 shares during the period. Bank of America Corp DE raised its stake in shares of Bruker by 36.7% in the fourth quarter. Bank of America Corp DE now owns 1,352,697 shares of the medical research company’s stock worth $40,270,000 after buying an additional 363,249 shares during the period. Finally, Janus Henderson Group PLC raised its stake in shares of Bruker by 10.7% in the first quarter. Janus Henderson Group PLC now owns 3,298,436 shares of the medical research company’s stock worth $126,792,000 after buying an additional 319,125 shares during the period. 66.74% of the stock is currently owned by institutional investors.
BRKR has been the topic of several recent research reports. BTIG Research reaffirmed a “buy” rating and issued a $44.00 price objective (up previously from $42.00) on shares of Bruker in a research note on Tuesday, February 12th. BidaskClub raised Bruker from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 22nd. Deutsche Bank raised Bruker from a “hold” rating to a “buy” rating and lifted their target price for the company from $40.00 to $50.00 in a research note on Friday, April 12th. Zacks Investment Research downgraded Bruker from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, Leerink Swann raised Bruker from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Bruker presently has an average rating of “Buy” and an average price target of $43.71.
Bruker (NASDAQ:BRKR) last released its quarterly earnings results on Thursday, May 2nd. The medical research company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.04. The business had revenue of $461.40 million during the quarter, compared to analysts’ expectations of $450.46 million. Bruker had a return on equity of 26.28% and a net margin of 9.53%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 EPS. On average, equities analysts expect that Bruker Co. will post 1.61 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.39%. The ex-dividend date is Friday, May 31st. Bruker’s dividend payout ratio is presently 11.43%.
In other Bruker news, Director Marc A. Kastner sold 1,374 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $41.79, for a total transaction of $57,419.46. Following the completion of the transaction, the director now owns 10,811 shares in the company, valued at approximately $451,791.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frank H. Laukien sold 400,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $41.48, for a total value of $16,592,000.00. Following the transaction, the chief executive officer now owns 37,991,030 shares of the company’s stock, valued at approximately $1,575,867,924.40. The disclosure for this sale can be found here. Insiders have sold a total of 801,374 shares of company stock valued at $33,241,419 in the last 90 days. 26.50% of the stock is currently owned by company insiders.
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Bruker Corporation manufactures and distributes scientific instruments, and analytical and diagnostic solutions in the United States, Europe, the Asia Pacific, and internationally. The company operates in two segments, Bruker Scientific Instruments, and Bruker Energy & Supercon Technologies. It offers life science tools based on magnetic resonance technology; life science mass spectrometry and ion mobility spectrometry solutions; infrared spectroscopy and radiological/nuclear detectors for chemical, biological, radiological, nuclear, and explosive detection in emergency response, homeland security, and defense applications; and research, analytical, and process analysis instruments and solutions based on infrared and Raman molecular spectroscopy technologies.
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