Koch Industries Inc. boosted its position in shares of Bruker Corporation (NASDAQ:BRKR) by 2,573.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 334,774 shares of the medical research company’s stock after purchasing an additional 322,252 shares during the quarter. Koch Industries Inc. owned about 0.21% of Bruker Corporation worth $324,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC increased its holdings in shares of Bruker Corporation by 496.1% in the 2nd quarter. Acrospire Investment Management LLC now owns 3,827 shares of the medical research company’s stock valued at $110,000 after acquiring an additional 3,185 shares during the period. SG Americas Securities LLC purchased a new position in shares of Bruker Corporation in the 2nd quarter valued at $111,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Bruker Corporation by 11.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,599 shares of the medical research company’s stock valued at $133,000 after acquiring an additional 467 shares during the period. Smithfield Trust Co. purchased a new position in shares of Bruker Corporation in the 2nd quarter valued at $138,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Bruker Corporation by 7.1% in 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 acquiring an additional 331 shares during the period. Institutional investors own 65.44% of the company’s stock.
A number of research analysts have recently issued reports on the company. Wells Fargo & Company downgraded Bruker Corporation from a “market perform” rating to an “underperform” rating in a report on Wednesday, July 12th. Zacks Investment Research raised Bruker Corporation from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Thursday, July 6th. BidaskClub cut Bruker Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Barclays PLC reissued an “equal weight” rating and issued a $30.00 price objective (up previously from $26.00) on shares of Bruker Corporation in a research report on Monday, July 17th. Finally, Cowen and Company reissued a “hold” rating and issued a $29.00 price objective on shares of Bruker Corporation in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $26.70.
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In related news, CEO Frank H. Laukien purchased 2,335 shares of Bruker Corporation stock in a transaction on Thursday, August 10th. The stock was purchased at an average cost of $27.39 per share, with a total value of $63,955.65. Following the acquisition, the chief executive officer now directly owns 37,791,386 shares in the company, valued at $1,035,106,062.54. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Mark Munch sold 21,061 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $29.97, for a total transaction of $631,198.17. Following the completion of the sale, the vice president now directly owns 60,524 shares of the company’s stock, valued at $1,813,904.28. The disclosure for this sale can be found here. 35.20% of the stock is currently owned by corporate insiders.
Bruker Corporation (BRKR) traded up 0.85% during midday trading on Friday, reaching $31.02. The company’s stock had a trading volume of 42,641 shares. The company’s 50-day moving average is $30.02 and its 200 day moving average is $27.84. Bruker Corporation has a 52 week low of $19.97 and a 52 week high of $31.12. The firm has a market capitalization of $4.92 billion, a P/E ratio of 30.93 and a beta of 1.09.
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, beating the Thomson Reuters’ 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 firm had revenue of $414.90 million for the quarter, compared to analyst estimates of $384.75 million. During the same quarter in the prior year, the business earned $0.20 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts expect that Bruker Corporation will post $1.12 earnings per share for the current fiscal year.
Bruker Corporation Company Profile
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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