Allspring Global Investments Holdings LLC Raises Holdings in Bruker Co. (NASDAQ:BRKR)

Allspring Global Investments Holdings LLC grew its position in Bruker Co. (NASDAQ:BRKR - Free Report) by 51.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 210,761 shares of the medical research company's stock after buying an additional 71,275 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.15% of Bruker worth $14,555,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of BRKR. Covestor Ltd increased its stake in shares of Bruker by 139.1% during the first quarter. Covestor Ltd now owns 361 shares of the medical research company's stock worth $34,000 after buying an additional 210 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Bruker by 120.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 399 shares of the medical research company's stock valued at $25,000 after purchasing an additional 218 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Bruker by 115.3% during the 3rd quarter. UMB Bank n.a. now owns 661 shares of the medical research company's stock worth $46,000 after purchasing an additional 354 shares during the last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in Bruker in the second quarter valued at $52,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Bruker by 40.7% in the first quarter. EverSource Wealth Advisors LLC now owns 858 shares of the medical research company's stock valued at $81,000 after buying an additional 248 shares during the last quarter. Hedge funds and other institutional investors own 79.52% of the company's stock.

Analysts Set New Price Targets

BRKR has been the subject of several analyst reports. Barclays started coverage on Bruker in a research report on Tuesday, October 15th. They set an "overweight" rating and a $75.00 price objective for the company. Citigroup dropped their price target on shares of Bruker from $95.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, July 10th. Wolfe Research downgraded shares of Bruker from an "outperform" rating to a "peer perform" rating in a research report on Monday, September 30th. Wells Fargo & Company initiated coverage on shares of Bruker in a research report on Tuesday, August 27th. They issued an "overweight" rating and a $78.00 target price on the stock. Finally, The Goldman Sachs Group cut their price target on Bruker from $72.00 to $60.00 and set a "sell" rating on the stock in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bruker presently has an average rating of "Moderate Buy" and a consensus target price of $80.82.

Bruker Stock Performance

Bruker stock traded down $0.49 during trading hours on Friday, reaching $57.90. 1,324,321 shares of the stock were exchanged, compared to its average volume of 1,047,844. Bruker Co. has a 52-week low of $53.79 and a 52-week high of $94.86. The stock has a market cap of $8.41 billion, a P/E ratio of 21.05, a P/E/G ratio of 2.52 and a beta of 1.18. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 1.65. The firm's 50 day moving average is $64.87 and its 200 day moving average is $67.94.

Bruker (NASDAQ:BRKR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The medical research company reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. Bruker had a net margin of 11.29% and a return on equity of 24.92%. The firm had revenue of $800.70 million during the quarter, compared to analysts' expectations of $799.44 million. During the same period in the prior year, the company posted $0.50 earnings per share. The firm's revenue for the quarter was up 17.4% on a year-over-year basis. Analysts predict that Bruker Co. will post 2.61 EPS for the current fiscal year.

Bruker Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.35%. The ex-dividend date was Friday, August 30th. Bruker's payout ratio is currently 7.27%.

Bruker 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.