Bruker Co. (NASDAQ:BRKR) Short Interest Down 12.2% in October

Bruker Co. (NASDAQ:BRKR - Get Free Report) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 3,810,000 shares, a decline of 12.2% from the October 15th total of 4,340,000 shares. Currently, 3.7% of the company's stock are sold short. Based on an average daily volume of 1,160,000 shares, the short-interest ratio is presently 3.3 days.

Hedge Funds Weigh In On Bruker

Several large investors have recently made changes to their positions in BRKR. Covestor Ltd grew its position in shares of Bruker by 139.1% in the first quarter. Covestor Ltd now owns 361 shares of the medical research company's stock valued at $34,000 after purchasing an additional 210 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of Bruker by 120.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 399 shares of the medical research company's stock worth $25,000 after buying an additional 218 shares during the last quarter. True Wealth Design LLC raised its position in Bruker by 4,636.4% in the third quarter. True Wealth Design LLC now owns 521 shares of the medical research company's stock valued at $36,000 after purchasing an additional 510 shares during the period. UMB Bank n.a. raised its holdings in Bruker by 115.3% in the 3rd quarter. UMB Bank n.a. now owns 661 shares of the medical research company's stock valued at $46,000 after buying an additional 354 shares during the period. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Bruker in the 2nd quarter valued at approximately $52,000. 79.52% of the stock is currently owned by institutional investors and hedge funds.

Bruker Stock Performance

NASDAQ BRKR traded down $3.19 on Friday, hitting $51.30. 1,978,983 shares of the company's stock traded hands, compared to its average volume of 1,079,714. Bruker has a 1-year low of $50.88 and a 1-year high of $94.86. The company has a current ratio of 1.66, a quick ratio of 0.73 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $7.78 billion, a PE ratio of 24.66, a P/E/G ratio of 2.68 and a beta of 1.20. The firm's 50-day moving average price is $62.60 and its two-hundred day moving average price is $65.31.

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

Wall Street Analyst Weigh In

BRKR has been the subject of several analyst reports. TD Cowen decreased their price target 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. Wells Fargo & Company cut their price target on shares of Bruker from $78.00 to $75.00 and set an "overweight" rating on the stock in a report on Wednesday, November 6th. Wolfe Research lowered Bruker from an "outperform" rating to a "peer perform" rating in a report on Monday, September 30th. Barclays dropped their target price on Bruker from $75.00 to $69.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 6th. Finally, Citigroup lowered their price target on Bruker from $80.00 to $75.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Bruker presently has a consensus rating of "Moderate Buy" and an average price target of $79.36.

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.