Bruker Co. (NASDAQ:BRKR) Shares Purchased by State Street Corp

State Street Corp grew its stake in Bruker Co. (NASDAQ:BRKR - Free Report) by 9.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,627,300 shares of the medical research company's stock after purchasing an additional 318,808 shares during the period. State Street Corp owned approximately 2.39% of Bruker worth $250,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its stake in Bruker by 20.0% during the second quarter. Nisa Investment Advisors LLC now owns 991 shares of the medical research company's stock worth $63,000 after purchasing an additional 165 shares during the period. Securian Asset Management Inc. lifted its holdings in Bruker by 2.3% in the second quarter. Securian Asset Management Inc. now owns 7,766 shares of the medical research company's stock valued at $496,000 after acquiring an additional 175 shares during the last quarter. First Horizon Advisors Inc. lifted 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 during the last quarter. Ameritas Investment Partners Inc. grew its position in Bruker by 0.8% in the second quarter. Ameritas Investment Partners Inc. now owns 30,911 shares of the medical research company's stock worth $1,972,000 after acquiring an additional 235 shares during the period. Finally, US Bancorp DE increased its stake in Bruker by 2.1% during the third quarter. US Bancorp DE now owns 12,700 shares of the medical research company's stock worth $877,000 after acquiring an additional 260 shares during the last quarter. Institutional investors and hedge funds own 79.52% of the company's stock.

Insider Buying and Selling

In related news, CEO Frank H. Laukien bought 100,000 shares of the company's stock in a transaction on Monday, November 18th. The stock was bought at an average cost of $50.14 per share, with a total value of $5,014,000.00. Following the completion of the acquisition, the chief executive officer now owns 38,439,563 shares in the company, valued at approximately $1,927,359,688.82. This represents a 0.26 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 28.30% of the stock is currently owned by corporate insiders.

Bruker Stock Performance

Shares of NASDAQ BRKR traded down $1.13 during midday trading on Thursday, reaching $58.52. 911,948 shares of the company were exchanged, compared to its average volume of 1,112,588. The stock has a fifty day simple moving average of $59.02 and a 200 day simple moving average of $63.00. 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 stock has a market cap of $8.87 billion, a P/E ratio of 28.13, a PEG ratio of 3.96 and a beta of 1.18. Bruker Co. has a 1 year low of $48.07 and a 1 year high of $94.86.

Bruker (NASDAQ:BRKR - Get Free Report) last issued 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). The company had revenue of $864.40 million for the quarter, compared to analyst estimates of $866.46 million. Bruker had a return on equity of 21.52% and a net margin of 9.41%. Bruker's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 earnings per share. On average, research analysts forecast that Bruker Co. will post 2.4 earnings per share for the current fiscal year.

Bruker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued 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 is Monday, December 2nd. Bruker's dividend payout ratio is presently 9.62%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Citigroup cut their target price on Bruker from $80.00 to $75.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. The Goldman Sachs Group raised Bruker from a "sell" rating to a "neutral" rating and set a $60.00 target price on the stock in a research note on Thursday, December 5th. Wolfe Research cut Bruker from an "outperform" rating to a "peer perform" rating in a report on Monday, September 30th. TD Cowen cut their price target on shares of Bruker from $72.00 to $70.00 and set a "hold" rating on the stock in a research note on Wednesday, November 6th. Finally, Barclays lowered their price objective on shares of Bruker from $75.00 to $69.00 and set an "overweight" rating for the company in a research note on Wednesday, November 6th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Bruker currently has an average rating of "Moderate Buy" and an average price target of $76.09.

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.