Kornitzer Capital Management Inc. KS Buys New Position in Bruker Co. (NASDAQ:BRKR)

Kornitzer Capital Management Inc. KS bought a new position in shares of Bruker Co. (NASDAQ:BRKR - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 83,000 shares of the medical research company's stock, valued at approximately $5,732,000. Kornitzer Capital Management Inc. KS owned approximately 0.06% of Bruker at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. raised its holdings in Bruker by 120.4% in the second quarter. First Horizon Advisors Inc. now owns 399 shares of the medical research company's stock valued at $25,000 after acquiring an additional 218 shares in the last quarter. Covestor Ltd raised its holdings in 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 acquiring an additional 210 shares in the last quarter. UMB Bank n.a. raised its holdings in Bruker by 115.3% in the third quarter. UMB Bank n.a. now owns 661 shares of the medical research company's stock valued at $46,000 after acquiring an additional 354 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in Bruker in the second quarter valued at $52,000. Finally, GAMMA Investing LLC raised its holdings in Bruker by 81.0% in the third quarter. GAMMA Investing LLC now owns 867 shares of the medical research company's stock valued at $60,000 after acquiring an additional 388 shares in the last quarter. 79.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BRKR shares. 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. 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 report on Wednesday. Wolfe Research cut shares of Bruker from an "outperform" rating to a "peer perform" rating in a report on Monday, September 30th. TD Cowen dropped their target price on shares of Bruker from $72.00 to $70.00 and set a "hold" rating on the stock in a report on Wednesday. Finally, Citigroup dropped their target price on shares of Bruker from $80.00 to $75.00 and set a "buy" rating on the stock in a report on Wednesday. One 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $79.36.

Bruker Stock Performance

Shares of Bruker stock traded down $2.76 during trading on Friday, hitting $57.73. 1,077,381 shares of the stock were exchanged, compared to its average volume of 1,072,928. The stock's fifty day moving average is $63.83 and its 200 day moving average is $66.47. The stock has a market cap of $8.74 billion, a PE ratio of 23.95, a P/E/G ratio of 2.32 and a beta of 1.20. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 1.65. Bruker Co. has a 12 month low of $54.55 and a 12 month high of $94.86.

Bruker (NASDAQ:BRKR - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The medical research company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.01). The firm had revenue of $864.40 million for the quarter, compared to the consensus estimate of $866.46 million. Bruker had a return on equity of 24.92% and a net margin of 11.29%. The firm's revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.74 EPS. As a group, sell-side analysts anticipate that Bruker Co. will post 2.61 EPS for the current year.

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.