Stevens Capital Management LP reduced its stake in Bruker Co. (NASDAQ:BRKR) by 63.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,583 shares of the medical research company’s stock after selling 37,209 shares during the quarter. Stevens Capital Management LP’s holdings in Bruker were worth $830,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in BRKR. Bank of New York Mellon Corp grew its position in shares of Bruker by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 620,396 shares of the medical research company’s stock worth $20,751,000 after buying an additional 15,838 shares during the period. JPMorgan Chase & Co. grew its position in shares of Bruker by 33.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 96,033 shares of the medical research company’s stock worth $3,213,000 after buying an additional 24,048 shares during the period. TIAA CREF Investment Management LLC grew its position in shares of Bruker by 0.9% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 922,156 shares of the medical research company’s stock worth $30,846,000 after buying an additional 8,528 shares during the period. Morgan Stanley grew its position in shares of Bruker by 686.7% in the 3rd quarter. Morgan Stanley now owns 411,277 shares of the medical research company’s stock worth $13,758,000 after buying an additional 358,995 shares during the period. Finally, Boston Advisors LLC purchased a new stake in shares of Bruker in the 4th quarter worth about $1,359,000. Institutional investors own 69.33% of the company’s stock.
A number of analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $46.00 target price (up from $39.00) on shares of Bruker in a research report on Monday, May 6th. UBS Group raised shares of Bruker from a “sell” rating to a “neutral” rating and set a $43.00 target price on the stock in a research report on Friday, May 3rd. Svb Leerink raised shares of Bruker from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $40.00 to $53.00 in a research report on Friday, May 3rd. Leerink Swann raised shares of Bruker from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. Finally, BidaskClub downgraded shares of Bruker from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $43.71.
Bruker (NASDAQ:BRKR) last announced its quarterly earnings data on Thursday, May 2nd. The medical research company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.04. Bruker had a net margin of 9.53% and a return on equity of 26.28%. The company had revenue of $461.40 million for the quarter, compared to the consensus estimate of $450.46 million. During the same period in the prior year, the firm posted $0.24 EPS. Bruker’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts forecast that Bruker Co. will post 1.61 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Monday, June 3rd will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.38%. The ex-dividend date is Friday, May 31st. Bruker’s dividend payout ratio (DPR) is 11.43%.
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 solutions; 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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