Q3 2018 Earnings Estimate for Bruker Corporation Issued By Jefferies Group (BRKR)
Bruker Corporation (NASDAQ:BRKR) – Investment analysts at Jefferies Group lifted their Q3 2018 EPS estimates for Bruker Corporation in a research note issued on Thursday. Jefferies Group analyst B. Couillard now expects that the medical research company will post earnings of $0.33 per share for the quarter, up from their previous forecast of $0.32. Jefferies Group also issued estimates for Bruker Corporation’s Q4 2018 earnings at $0.40 EPS, FY2018 earnings at $1.35 EPS and FY2019 earnings at $1.52 EPS.
Bruker Corporation (NASDAQ:BRKR) last released its quarterly earnings data on Thursday, November 2nd. The medical research company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. Bruker Corporation had a return on equity of 25.83% and a net margin of 8.85%. The business had revenue of $435.60 million during the quarter, compared to analyst estimates of $415.45 million. During the same quarter in the previous year, the firm posted $0.32 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year.
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A number of other research analysts have also issued reports on BRKR. BidaskClub lowered Bruker Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Bank of America Corporation upgraded Bruker Corporation from an “underperform” rating to a “neutral” rating and set a $34.00 price target for the company in a research report on Friday, November 3rd. Zacks Investment Research upgraded Bruker Corporation from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Wednesday, November 8th. Cowen and Company reiterated a “hold” rating and set a $29.00 price target on shares of Bruker Corporation in a research report on Friday, November 3rd. Finally, J P Morgan Chase & Co upgraded Bruker Corporation from an “underweight” rating to a “neutral” rating and set a $28.00 price target for the company in a research report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $29.64.
Bruker Corporation (NASDAQ BRKR) opened at $31.83 on Monday. 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 $4,951.56, a P/E ratio of 27.20, a P/E/G ratio of 2.69 and a beta of 1.05. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.60 and a current ratio of 2.60.
A number of hedge funds have recently modified their holdings of the business. Schwab Charles Investment Management Inc. increased its position in Bruker Corporation by 4.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 579,549 shares of the medical research company’s stock worth $17,242,000 after purchasing an additional 24,524 shares during the last quarter. Wells Fargo & Company MN increased its position in Bruker Corporation by 4.7% in the 3rd quarter. Wells Fargo & Company MN now owns 845,373 shares of the medical research company’s stock worth $25,150,000 after purchasing an additional 37,858 shares during the last quarter. Citadel Advisors LLC increased its position in Bruker Corporation by 107.4% in the 3rd quarter. Citadel Advisors LLC now owns 266,256 shares of the medical research company’s stock worth $7,921,000 after purchasing an additional 137,879 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Bruker Corporation by 16.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 282,808 shares of the medical research company’s stock worth $8,376,000 after acquiring an additional 39,519 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Bruker Corporation by 10.2% during the 3rd quarter. Legal & General Group Plc now owns 42,588 shares of the medical research company’s stock worth $1,267,000 after acquiring an additional 3,942 shares in the last quarter. 65.47% of the stock is currently owned by institutional investors.
In other Bruker Corporation news, 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 value of $631,198.17. Following the transaction, the vice president now directly owns 60,524 shares of the company’s stock, valued at approximately $1,813,904.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 35.20% of the company’s stock.
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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