Barclays PLC reaffirmed their equal weight rating on shares of Bruker Corporation (NASDAQ:BRKR) in a report issued on Monday, July 17th. Barclays PLC currently has a $30.00 price target on the medical research company’s stock, up from their prior price target of $26.00.
Other analysts have also issued reports about the stock. Jefferies Group LLC reaffirmed a buy rating and issued a $29.00 price objective on shares of Bruker Corporation in a research note on Friday, May 5th. Wells Fargo & Co lowered shares of Bruker Corporation from a market perform rating to an underperform rating in a research note on Wednesday, July 12th. Zacks Investment Research raised shares of Bruker Corporation from a hold rating to a buy rating and set a $33.00 price objective for the company in a research note on Thursday, July 6th. Cleveland Research upgraded shares of Bruker Corporation from a neutral rating to a buy rating in a report on Thursday, April 27th. Finally, Cowen and Company reiterated a hold rating and issued a $29.00 target price on shares of Bruker Corporation in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $27.00.
Bruker Corporation (BRKR) opened at 27.88 on Monday. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 29.60 and a beta of 1.10. The company has a 50 day moving average of $28.70 and a 200 day moving average of $25.43. Bruker Corporation has a 52 week low of $19.58 and a 52 week high of $30.22.
Bruker Corporation (NASDAQ:BRKR) last released its quarterly earnings data on Thursday, August 3rd. The medical research company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. Bruker Corporation had a net margin of 9.65% and a return on equity of 27.18%. The company had revenue of $414.90 million during the quarter, compared to analyst estimates of $384.75 million. During the same period in the prior year, the firm earned $0.20 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities analysts forecast that Bruker Corporation will post $1.10 EPS for the current fiscal year.
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Bruker Corporation declared that its Board of Directors has authorized a stock buyback program on Friday, May 12th that allows the company to repurchase $225.00 million in outstanding shares. This repurchase authorization allows the medical research company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
In other Bruker Corporation news, CEO Frank H. Laukien purchased 1,920 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were bought at an average price of $25.88 per share, for a total transaction of $49,689.60. Following the acquisition, the chief executive officer now owns 37,712,851 shares in the company, valued at $976,008,583.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frank H. Laukien acquired 3,200 shares of the stock in a transaction on Friday, May 19th. The stock was bought at an average price of $26.13 per share, for a total transaction of $83,616.00. Following the transaction, the chief executive officer now owns 37,789,051 shares in the company, valued at approximately $987,427,902.63. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 78,120 shares of company stock worth $2,047,366 and sold 117,624 shares worth $3,271,574. 35.20% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Bruker Corporation by 26,266.0% in the first quarter. BlackRock Inc. now owns 4,607,722 shares of the medical research company’s stock worth $107,498,000 after buying an additional 4,590,246 shares during the last quarter. Norges Bank purchased a new position in shares of Bruker Corporation during the fourth quarter worth $45,298,000. FMR LLC raised its position in shares of Bruker Corporation by 26.4% in the first quarter. FMR LLC now owns 7,146,000 shares of the medical research company’s stock worth $166,716,000 after buying an additional 1,491,140 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in shares of Bruker Corporation during the first quarter worth $28,963,000. Finally, Marshall Wace North America L.P. purchased a new position in shares of Bruker Corporation during the first quarter worth $28,963,000. Institutional investors own 67.23% 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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