Millennium Management LLC trimmed its holdings in shares of Bruker Co. (NASDAQ:BRKR) by 42.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,111,217 shares of the medical research company’s stock after selling 831,407 shares during the period. Millennium Management LLC owned about 0.71% of Bruker worth $33,248,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. California Public Employees Retirement System raised its stake in shares of Bruker by 8.9% during the 4th quarter. California Public Employees Retirement System now owns 270,363 shares of the medical research company’s stock worth $9,279,000 after purchasing an additional 22,147 shares during the period. Deutsche Bank AG raised its stake in shares of Bruker by 28.2% during the 4th quarter. Deutsche Bank AG now owns 266,998 shares of the medical research company’s stock worth $9,161,000 after purchasing an additional 58,708 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Bruker by 3.4% during the 4th quarter. UBS Asset Management Americas Inc. now owns 98,571 shares of the medical research company’s stock worth $3,383,000 after purchasing an additional 3,262 shares during the period. Swiss National Bank raised its stake in shares of Bruker by 2.1% during the 1st quarter. Swiss National Bank now owns 192,700 shares of the medical research company’s stock worth $5,766,000 after purchasing an additional 3,900 shares during the period. Finally, Invictus RG raised its stake in shares of Bruker by 18.6% during the 4th quarter. Invictus RG now owns 10,398 shares of the medical research company’s stock worth $357,000 after purchasing an additional 1,634 shares during the period. Institutional investors own 65.46% of the company’s stock.
Shares of Bruker opened at $29.68 on Wednesday, MarketBeat reports. Bruker Co. has a 52-week low of $26.98 and a 52-week high of $36.53. The stock has a market capitalization of $4.58 billion, a P/E ratio of 24.53, a PEG ratio of 1.87 and a beta of 1.17. The company has a current ratio of 2.22, a quick ratio of 1.29 and a debt-to-equity ratio of 0.26.
Bruker (NASDAQ:BRKR) last announced its quarterly earnings data on Thursday, May 3rd. The medical research company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. Bruker had a return on equity of 27.04% and a net margin of 4.63%. The business had revenue of $431.70 million for the quarter, compared to analysts’ expectations of $419.25 million. During the same period in the previous year, the business posted $0.19 EPS. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. sell-side analysts forecast that Bruker Co. will post 1.39 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 22nd. Investors of record on Monday, June 4th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Friday, June 1st. Bruker’s dividend payout ratio is currently 13.22%.
A number of equities research analysts have recently commented on the company. BidaskClub cut Bruker from a “buy” rating to a “hold” rating in a research note on Wednesday, June 20th. Zacks Investment Research cut Bruker from a “buy” rating to a “hold” rating in a research note on Friday, June 8th. BTIG Research set a $42.00 target price on Bruker and gave the stock a “buy” rating in a research note on Sunday, May 6th. Bank of America lowered their price objective on Bruker from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, May 4th. Finally, Morgan Stanley lowered their price objective on Bruker from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 11th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $32.91.
Bruker Company Profile
Bruker Corporation manufactures and distributes scientific instruments, and analytical and diagnostic solutions in the United States, Europe, the Asia Pacific, and internationally. The company operates in two segments, Bruker Scientific Instruments, and Bruker Energy & Supercon Technologies. It offers life science tools based on magnetic resonance technology; life science mass spectrometry and ion mobility spectrometry systems; infrared spectroscopy and radiological/nuclear detectors for chemical, biological, radiological, nuclear, and explosive detection in emergency response, homeland security, and defense applications; and research, analytical, and process analysis instruments and solutions based on infrared and Raman molecular spectroscopy technologies.
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