Zacks Investment Research Downgrades Bruker (BRKR) to Hold
Zacks Investment Research downgraded shares of Bruker (NASDAQ:BRKR) from a buy rating to a hold rating in a research report released on Tuesday morning.
According to Zacks, “Over the past three months, Bruker has been observed to trade above the broader industry. Of late, the company’s Scientific Instruments segment has been performing well where growth was driven by strong results within NANO and CALID groups. The company raising 2017 guidance, is indicative of brighter prospects. Moving on, the company’s strategic acquisition activity has been encouraging. In this context, the company recently announced the completion of acquisition of Germany-based MERLIN whose products can complement Bruker’s MALDI Biotyper platform. On the flip side, currency fluctuations, competitive landscape and macroeconomic headwinds continue to pose challenges for the company.”
Several other equities research analysts have also recently weighed in on BRKR. Goldman Sachs Group reiterated a sell rating and issued a $24.00 price objective on shares of Bruker in a report on Tuesday, September 26th. JPMorgan Chase & Co. raised Bruker from an underweight rating to a neutral rating and set a $28.00 target price for the company in a research report on Friday, November 3rd. Bank of America raised Bruker from an underperform rating to a neutral rating and set a $34.00 target price for the company in a research report on Friday, November 3rd. Cowen reissued a hold rating and issued a $29.00 target price on shares of Bruker in a research report on Friday, November 3rd. Finally, Citigroup increased their target price on Bruker from $29.00 to $34.00 and gave the stock a neutral rating in a research report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $32.38.
Bruker (NASDAQ:BRKR) last released its quarterly earnings data on Thursday, November 2nd. The medical research company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.02. Bruker 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 analysts’ expectations of $415.45 million. During the same quarter last year, the business posted $0.32 EPS. The business’s revenue was up 10.6% on a year-over-year basis. sell-side analysts forecast that Bruker will post 1.19 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Monday, December 4th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Friday, December 1st. Bruker’s dividend payout ratio (DPR) is presently 17.02%.
A number of hedge funds have recently bought and sold shares of BRKR. Acrospire Investment Management LLC increased its position in Bruker by 496.1% during the 2nd quarter. Acrospire Investment Management LLC now owns 3,827 shares of the medical research company’s stock valued at $110,000 after buying an additional 3,185 shares in the last quarter. SG Americas Securities LLC bought a new position in Bruker during the 2nd quarter valued at approximately $111,000. Zions Bancorporation bought a new position in Bruker during the 3rd quarter valued at approximately $119,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Bruker by 11.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,599 shares of the medical research company’s stock valued at $133,000 after buying an additional 467 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Bruker by 7.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,003 shares of the medical research company’s stock valued at $144,000 after buying an additional 331 shares in the last quarter. 65.60% of the stock is owned by institutional investors.
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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