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Geode Capital Management LLC Increases Stock Position in Bruker Co. (NASDAQ:BRKR)

Bruker logo with Computer and Technology background

Geode Capital Management LLC lifted its holdings in Bruker Co. (NASDAQ:BRKR - Free Report) by 10.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,993,468 shares of the medical research company's stock after acquiring an additional 193,580 shares during the period. Geode Capital Management LLC owned 1.31% of Bruker worth $137,702,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new position in shares of Bruker in the second quarter worth about $36,472,000. Federated Hermes Inc. raised its stake in Bruker by 5.3% in the second quarter. Federated Hermes Inc. now owns 166,561 shares of the medical research company's stock worth $10,628,000 after buying an additional 8,346 shares in the last quarter. Cerity Partners LLC lifted its holdings in Bruker by 446.8% during the third quarter. Cerity Partners LLC now owns 27,998 shares of the medical research company's stock worth $1,934,000 after buying an additional 22,878 shares during the period. Envestnet Asset Management Inc. boosted its position in Bruker by 48.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 301,251 shares of the medical research company's stock valued at $19,223,000 after acquiring an additional 98,427 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Bruker by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 966,069 shares of the medical research company's stock worth $61,645,000 after purchasing an additional 27,870 shares during the last quarter. 79.52% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Frank H. Laukien bought 100,000 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average cost of $50.14 per share, for a total transaction of $5,014,000.00. Following the completion of the purchase, the chief executive officer now owns 38,439,563 shares of the company's stock, valued at approximately $1,927,359,688.82. This represents a 0.26 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 28.30% of the stock is owned by company insiders.

Bruker Trading Up 1.1 %

Bruker stock traded up $0.63 during trading on Tuesday, reaching $57.81. 1,643,778 shares of the company were exchanged, compared to its average volume of 1,116,029. The stock's 50 day simple moving average is $58.66 and its two-hundred day simple moving average is $62.65. The company has a market capitalization of $8.76 billion, a P/E ratio of 27.79, a PEG ratio of 4.00 and a beta of 1.18. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.66 and a quick ratio of 0.73. Bruker Co. has a 52-week low of $48.07 and a 52-week high of $94.86.

Bruker (NASDAQ:BRKR - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The medical research company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.01). Bruker had a net margin of 9.41% and a return on equity of 21.52%. The firm had revenue of $864.40 million during the quarter, compared to analysts' expectations of $866.46 million. During the same period last year, the company earned $0.74 EPS. The business's quarterly revenue was up 16.4% on a year-over-year basis. On average, equities research analysts expect that Bruker Co. will post 2.4 earnings per share for the current fiscal year.

Bruker Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.35%. The ex-dividend date was Monday, December 2nd. Bruker's payout ratio is currently 9.62%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BRKR. Wells Fargo & Company cut their price target on Bruker from $78.00 to $75.00 and set an "overweight" rating for the company in a research note on Wednesday, November 6th. Wolfe Research lowered Bruker from an "outperform" rating to a "peer perform" rating in a research report on Monday, September 30th. TD Cowen reduced their price objective on shares of Bruker from $72.00 to $70.00 and set a "hold" rating for the company in a research report on Wednesday, November 6th. Barclays dropped their target price on shares of Bruker from $75.00 to $69.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group upgraded shares of Bruker from a "sell" rating to a "neutral" rating and set a $60.00 price target for the company in a research report on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $74.70.

View Our Latest Research Report on BRKR

Bruker Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bruker (NASDAQ:BRKR)

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