VELA Investment Management LLC Buys New Position in Bruker Co. (NASDAQ:BRKR)

VELA Investment Management LLC acquired a new position in Bruker Co. (NASDAQ:BRKR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 20,241 shares of the medical research company's stock, valued at approximately $1,187,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BRKR. Wealth Enhancement Advisory Services LLC increased its stake in shares of Bruker by 109.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 13,110 shares of the medical research company's stock valued at $905,000 after acquiring an additional 6,863 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Bruker by 5.6% during the third quarter. State of Alaska Department of Revenue now owns 42,686 shares of the medical research company's stock worth $2,947,000 after purchasing an additional 2,245 shares during the period. New York State Teachers Retirement System increased its stake in Bruker by 2.4% during the 3rd quarter. New York State Teachers Retirement System now owns 38,447 shares of the medical research company's stock valued at $2,655,000 after purchasing an additional 900 shares in the last quarter. First Trust Direct Indexing L.P. acquired a new position in Bruker during the third quarter worth $246,000. Finally, SteelPeak Wealth LLC raised its holdings in shares of Bruker by 16.2% in the 3rd quarter. SteelPeak Wealth LLC now owns 12,717 shares of the medical research company's stock worth $878,000 after acquiring an additional 1,775 shares during the last quarter. 79.52% of the stock is owned by institutional investors and hedge funds.

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Bruker Price Performance

Shares of BRKR stock traded down $0.28 on Tuesday, reaching $46.46. The company's stock had a trading volume of 1,379,578 shares, compared to its average volume of 1,231,073. The stock's 50 day simple moving average is $55.83 and its 200-day simple moving average is $59.49. Bruker Co. has a 12-month low of $45.29 and a 12-month high of $94.86. The company has a market capitalization of $7.04 billion, a P/E ratio of 61.11, a PEG ratio of 2.16 and a beta of 1.16. 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 posted its quarterly earnings data on Thursday, February 13th. The medical research company reported $0.76 earnings per share for the quarter, beating the consensus estimate 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, equities analysts predict that Bruker Co. will post 2.69 earnings per share for the current fiscal year.

Bruker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 17th will be issued a $0.05 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 0.43%. Bruker's dividend payout ratio is currently 26.32%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BRKR. TD Cowen decreased their price target on Bruker from $72.00 to $70.00 and set a "hold" rating for the company in a report on Wednesday, November 6th. Citigroup cut their price target on shares of Bruker from $80.00 to $75.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. Guggenheim reiterated a "buy" rating on shares of Bruker in a research note on Monday, February 24th. Wells Fargo & Company dropped their price target on Bruker from $78.00 to $75.00 and set an "overweight" rating on the stock in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group upgraded Bruker from a "sell" rating to a "neutral" rating and set a $60.00 target price on the stock in a research note on Thursday, December 5th. 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, the company has an average rating of "Moderate Buy" and an average price target of $70.50.

Bruker Company Profile

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.