PineStone Asset Management Inc. Purchases 26,700 Shares of Bruker Co. (NASDAQ:BRKR)

PineStone Asset Management Inc. lifted its position in Bruker Co. (NASDAQ:BRKR - Free Report) by 13.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 221,576 shares of the medical research company's stock after acquiring an additional 26,700 shares during the period. PineStone Asset Management Inc. owned about 0.15% of Bruker worth $15,302,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BRKR. State of Michigan Retirement System raised its position in Bruker by 2.2% during the first quarter. State of Michigan Retirement System now owns 22,793 shares of the medical research company's stock valued at $2,141,000 after buying an additional 500 shares during the period. First Trust Direct Indexing L.P. acquired a new position in shares of Bruker in the 1st quarter valued at about $234,000. Commonwealth Equity Services LLC lifted its position in shares of Bruker by 78.1% in the first quarter. Commonwealth Equity Services LLC now owns 15,123 shares of the medical research company's stock worth $1,421,000 after purchasing an additional 6,631 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Bruker by 17.3% during the first quarter. Van ECK Associates Corp now owns 44,962 shares of the medical research company's stock worth $4,224,000 after purchasing an additional 6,647 shares during the period. Finally, Norden Group LLC grew its position in Bruker by 41.8% during the first quarter. Norden Group LLC now owns 5,944 shares of the medical research company's stock valued at $558,000 after purchasing an additional 1,753 shares in the last quarter. Institutional investors and hedge funds own 79.52% of the company's stock.

Bruker Stock Performance

BRKR stock traded up $2.68 during midday trading on Friday, hitting $59.29. 2,078,658 shares of the company traded hands, compared to its average volume of 1,054,122. The business has a 50 day simple moving average of $64.47 and a 200-day simple moving average of $67.30. The company has a quick ratio of 0.75, a current ratio of 1.65 and a debt-to-equity ratio of 1.18. Bruker Co. has a twelve month low of $55.12 and a twelve month high of $94.86. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 2.29 and a beta of 1.18.

Bruker (NASDAQ:BRKR - Get Free Report) last announced its earnings results on Tuesday, August 6th. The medical research company reported $0.52 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 for the quarter, compared to the consensus estimate of $799.44 million. During the same quarter last year, the firm posted $0.50 EPS. The business's quarterly revenue was up 17.4% on a year-over-year basis. As a group, equities research analysts predict that Bruker Co. will post 2.61 earnings per share for the current year.

Bruker Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Friday, August 30th. Bruker's dividend payout ratio (DPR) is currently 8.30%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Barclays initiated coverage on shares of Bruker in a research report on Tuesday, October 15th. They issued an "overweight" rating and a $75.00 target price for the company. TD Cowen cut their price objective on Bruker from $74.00 to $72.00 and set a "hold" rating for the company in a report on Wednesday, August 7th. Wells Fargo & Company assumed coverage on Bruker in a research note on Tuesday, August 27th. They issued an "overweight" rating and a $78.00 target price on the stock. Wolfe Research downgraded Bruker from an "outperform" rating to a "peer perform" rating in a research note on Monday, September 30th. Finally, The Goldman Sachs Group lowered their price target on Bruker from $72.00 to $60.00 and set a "sell" rating for the company in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Bruker has an average rating of "Moderate Buy" and a consensus price target of $80.82.

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.