Bruker Corporation (BRKR) Upgraded to “Buy” by BidaskClub
Bruker Corporation (NASDAQ:BRKR) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.
Several other equities research analysts have also commented on BRKR. Cleveland Research upgraded shares of Bruker Corporation from a “neutral” rating to a “buy” rating in a research report on Thursday, April 27th. Cowen and Company boosted their price objective on shares of Bruker Corporation from $25.00 to $27.00 and gave the stock a “market perform” rating in a research report on Thursday, May 4th. Jefferies Group LLC reiterated a “buy” rating and issued a $29.00 price objective on shares of Bruker Corporation in a research report on Friday, May 5th. Deutsche Bank AG boosted their price objective on shares of Bruker Corporation from $25.00 to $27.00 and gave the stock a “hold” rating in a research report on Friday, May 5th. Finally, Zacks Investment Research upgraded shares of Bruker Corporation from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $27.00.
Bruker Corporation (NASDAQ BRKR) traded up 1.37% during trading on Wednesday, reaching $28.11. 96,366 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $28.52 and its 200-day moving average price is $25.77. Bruker Corporation has a one year low of $19.58 and a one year high of $30.22. The stock has a market cap of $4.46 billion, a P/E ratio of 28.03 and a beta of 1.10.
Bruker Corporation (NASDAQ:BRKR) last released its quarterly earnings data on Thursday, August 3rd. The medical research company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. Bruker Corporation had a net margin of 9.65% and a return on equity of 26.66%. The business had revenue of $414.90 million for the quarter, compared to analyst estimates of $384.75 million. During the same period in the previous year, the firm earned $0.20 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities analysts anticipate that Bruker Corporation will post $1.12 earnings per share for the current fiscal year.
Bruker Corporation declared that its Board of Directors has approved a share repurchase plan on Friday, May 12th that allows the company to buyback $225.00 million in outstanding shares. This buyback authorization allows the medical research company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
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In other Bruker Corporation news, CEO Frank H. Laukien purchased 2,335 shares of the stock in a transaction dated 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 completion of the acquisition, the chief executive officer now owns 37,791,386 shares of the company’s stock, valued at $1,035,106,062.54. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Frank H. Laukien purchased 73,000 shares of the stock in a transaction dated Thursday, May 18th. The shares were acquired at an average cost of $26.22 per share, for a total transaction of $1,914,060.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,750,851 shares of the company’s stock, valued at approximately $989,827,313.22. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 78,535 shares of company stock worth $2,061,632 and have sold 117,624 shares worth $3,271,574. 35.20% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Acrospire Investment Management LLC raised its position in Bruker Corporation by 496.1% in the second quarter. Acrospire Investment Management LLC now owns 3,827 shares of the medical research company’s stock worth $110,000 after buying an additional 3,185 shares during the last quarter. SG Americas Securities LLC purchased a new position in Bruker Corporation during the second quarter worth about $111,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Bruker Corporation by 11.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,599 shares of the medical research company’s stock worth $133,000 after buying an additional 467 shares during the last quarter. Smithfield Trust Co. purchased a new position in Bruker Corporation during the second quarter worth about $138,000. Finally, The Manufacturers Life Insurance Company raised its position in Bruker Corporation by 7.1% in the second quarter. The Manufacturers Life Insurance Company now owns 5,003 shares of the medical research company’s stock worth $144,000 after buying an additional 331 shares during the last quarter. 66.44% 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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