Norges Bank Invests $63.38 Million in Bruker Co. (NASDAQ:BRKR)

Norges Bank bought a new position in Bruker Co. (NASDAQ:BRKR - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,081,162 shares of the medical research company's stock, valued at approximately $63,378,000. Norges Bank owned approximately 0.71% of Bruker as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in BRKR. Eagle Bay Advisors LLC boosted its holdings in shares of Bruker by 2,324.1% in the 4th quarter. Eagle Bay Advisors LLC now owns 703 shares of the medical research company's stock worth $41,000 after purchasing an additional 674 shares in the last quarter. UMB Bank n.a. lifted its position in Bruker by 37.5% in the 4th quarter. UMB Bank n.a. now owns 909 shares of the medical research company's stock worth $53,000 after buying an additional 248 shares during the last quarter. GAMMA Investing LLC boosted its stake in Bruker by 47.5% in the fourth quarter. GAMMA Investing LLC now owns 1,279 shares of the medical research company's stock worth $75,000 after buying an additional 412 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Bruker by 41.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the medical research company's stock valued at $78,000 after acquiring an additional 390 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Bruker by 13.5% during the fourth quarter. Blue Trust Inc. now owns 2,164 shares of the medical research company's stock worth $127,000 after acquiring an additional 257 shares in the last quarter. Institutional investors own 79.52% of the company's stock.

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Wall Street Analysts Forecast Growth

BRKR has been the subject of a number of research reports. Barclays cut their price objective on shares of Bruker from $69.00 to $65.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Citigroup reduced their price objective on Bruker from $75.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday. Guggenheim reissued a "buy" rating on shares of Bruker in a research note on Monday, February 24th. Bank of America raised their price target on Bruker from $78.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Finally, Stifel Nicolaus lowered their price objective on Bruker from $70.00 to $57.00 and set a "hold" rating for the company in a research report on Friday, February 14th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Bruker currently has a consensus rating of "Moderate Buy" and an average target price of $68.00.

Bruker Trading Down 6.0 %

Shares of BRKR traded down $2.34 during mid-day trading on Tuesday, hitting $36.36. 3,574,949 shares of the company's stock traded hands, compared to its average volume of 1,426,716. The business's 50-day moving average price is $47.54 and its 200-day moving average price is $55.43. Bruker Co. has a 1 year low of $34.10 and a 1 year high of $90.72. The firm has a market capitalization of $5.52 billion, a P/E ratio of 47.84, a PEG ratio of 2.16 and a beta of 1.18. The company has a quick ratio of 0.77, a current ratio of 1.60 and a debt-to-equity ratio of 1.15.

Bruker (NASDAQ:BRKR - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The medical research company reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.01. Bruker had a net margin of 3.36% and a return on equity of 21.01%. As a group, sell-side analysts forecast that Bruker Co. will post 2.69 EPS for the current fiscal year.

Bruker Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 17th were given a dividend of $0.05 per share. The ex-dividend date was Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 0.55%. Bruker's payout ratio is 26.32%.

About Bruker

Bruker Corporation, together with its subsidiaries, develops, manufactures, and distributes scientific instruments, and analytical and diagnostic solutions in the United States, Europe, the Asia Pacific, and internationally. The company operates through four segments: Bruker Scientific Instruments (BSI) BioSpin, BSI CALID, BSI Nano, and Bruker Energy & Supercon Technologies.