Palisade Capital Management LLC NJ raised its stake in Bruker Corporation (NASDAQ:BRKR) by 11.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 563,496 shares of the medical research company’s stock after acquiring an additional 59,862 shares during the period. Palisade Capital Management LLC NJ owned 0.36% of Bruker Corporation worth $16,764,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of BRKR. Vanguard Group Inc. raised its stake in Bruker Corporation by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 9,832,452 shares of the medical research company’s stock valued at $229,391,000 after purchasing an additional 277,111 shares during the period. BlackRock Inc. grew its holdings in shares of Bruker Corporation by 3.0% during the 2nd quarter. BlackRock Inc. now owns 4,747,514 shares of the medical research company’s stock valued at $136,918,000 after acquiring an additional 139,792 shares in the last quarter. Boston Partners grew its holdings in shares of Bruker Corporation by 3.6% during the 2nd quarter. Boston Partners now owns 2,773,019 shares of the medical research company’s stock valued at $79,973,000 after acquiring an additional 96,791 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Bruker Corporation by 6.8% during the 2nd quarter. Victory Capital Management Inc. now owns 1,930,209 shares of the medical research company’s stock valued at $55,667,000 after acquiring an additional 123,322 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Bruker Corporation by 3.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,631,538 shares of the medical research company’s stock valued at $47,053,000 after acquiring an additional 60,795 shares in the last quarter. Institutional investors and hedge funds own 65.73% of the company’s stock.
Several research firms have recently commented on BRKR. BidaskClub cut shares of Bruker Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Bank of America Corporation upgraded shares of Bruker Corporation from an “underperform” rating to a “neutral” rating and set a $34.00 price target on the stock in a report on Friday, November 3rd. Zacks Investment Research upgraded shares of Bruker Corporation from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Wednesday. Cowen and Company reiterated a “hold” rating and issued a $29.00 price objective on shares of Bruker Corporation in a report on Friday, November 3rd. Finally, Citigroup Inc. upped their price objective on shares of Bruker Corporation from $29.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Two research 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. The company has a consensus rating of “Hold” and an average price target of $29.64.
In other Bruker Corporation news, VP Mark Munch sold 21,061 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were 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 $1,813,904.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 35.20% of the stock is currently owned by company insiders.
Bruker Corporation (NASDAQ:BRKR) traded down $0.58 on Friday, hitting $31.83. 944,200 shares of the stock traded hands, compared to its average volume of 564,122. Bruker Corporation has a twelve month low of $21.03 and a twelve month high of $35.16. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.63 and a quick ratio of 1.61. The company has a market capitalization of $4,951.57, a PE ratio of 27.21, a P/E/G ratio of 2.69 and a beta of 1.05.
Bruker Corporation (NASDAQ:BRKR) last announced its quarterly earnings data on Thursday, November 2nd. The medical research company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. Bruker Corporation had a net margin of 8.85% and a return on equity of 25.93%. The firm had revenue of $435.60 million for the quarter, compared to analysts’ expectations of $415.45 million. During the same period last year, the firm earned $0.32 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. sell-side analysts anticipate that Bruker Corporation will post 1.19 EPS for the current fiscal year.
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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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