PNC Financial Services Group Inc. Grows Holdings in Bruker Corporation $BRKR

PNC Financial Services Group Inc. grew its stake in shares of Bruker Corporation (NASDAQ:BRKR) by 24.2% in the second quarter, Holdings Channel reports. The firm owned 21,673 shares of the medical research company’s stock after acquiring an additional 4,220 shares during the period. PNC Financial Services Group Inc.’s holdings in Bruker were worth $893,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BRKR. Nisa Investment Advisors LLC increased its stake in Bruker by 377.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 616 shares of the medical research company’s stock worth $25,000 after buying an additional 487 shares during the period. Huntington National Bank grew its stake in Bruker by 750.0% in the 2nd quarter. Huntington National Bank now owns 731 shares of the medical research company’s stock worth $30,000 after acquiring an additional 645 shares in the last quarter. Spire Wealth Management purchased a new position in shares of Bruker during the second quarter worth approximately $32,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Bruker by 1,354.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 800 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 745 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Bruker by 63.0% in the second quarter. Parallel Advisors LLC now owns 898 shares of the medical research company’s stock valued at $37,000 after purchasing an additional 347 shares during the period. 79.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director John A. Ornell sold 6,233 shares of the business’s 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 transaction, the director directly owned 35,212 shares in the company, valued at $1,373,268. The trade was a 15.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Cynthia M. Friend sold 3,535 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $32.25, for a total value 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 SEC filing for this sale provides additional information. Corporate insiders own 27.30% of the company’s stock.

Bruker Price Performance

BRKR opened at $47.27 on Friday. The firm has a market capitalization of $7.18 billion, a PE ratio of 90.91, a price-to-earnings-growth ratio of 5.31 and a beta of 1.26. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.61 and a quick ratio of 0.70. The business’s 50-day moving average is $37.31 and its two-hundred day moving average is $37.32. Bruker Corporation has a 1 year low of $28.53 and a 1 year high of $64.64.

Bruker (NASDAQ:BRKR) last released its quarterly earnings results on Monday, November 3rd. The medical research company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.33 by $0.12. Bruker had a net margin of 2.31% and a return on equity of 17.89%. The business had revenue of $860.50 million during the quarter, compared to analyst estimates of $847.40 million. During the same period in the prior year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. Bruker has set its FY 2025 guidance at 1.850-1.90 EPS. Research analysts anticipate that Bruker Corporation will post 2.69 earnings per share for the current fiscal year.

Bruker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 8th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, December 8th. Bruker’s payout ratio is currently -125.00%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. TD Cowen lifted their target price on Bruker from $40.00 to $42.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Stifel Nicolaus set a $40.00 price target on Bruker and gave the company a “hold” rating in a research note on Tuesday, August 5th. Redburn Partners set a $60.00 price objective on shares of Bruker in a research note on Thursday. Rothschild Redb raised shares of Bruker to a “strong-buy” rating in a research report on Thursday. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Bruker in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $50.25.

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.