Truist Financial Corp Makes New Investment in Bruker Co. (NASDAQ:BRKR)

Truist Financial Corp purchased a new position in shares of Bruker Co. (NASDAQ:BRKR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,523 shares of the medical research company's stock, valued at approximately $910,000.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Bruker by 21.4% in the 3rd quarter. FMR LLC now owns 14,306,122 shares of the medical research company's stock valued at $987,981,000 after purchasing an additional 2,521,904 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in Bruker by 140.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,141,762 shares of the medical research company's stock valued at $66,930,000 after buying an additional 666,617 shares during the period. Point72 DIFC Ltd lifted its position in shares of Bruker by 4,875.9% in the third quarter. Point72 DIFC Ltd now owns 470,171 shares of the medical research company's stock valued at $32,470,000 after buying an additional 460,722 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Bruker by 1,933.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 410,234 shares of the medical research company's stock worth $28,331,000 after acquiring an additional 390,057 shares during the period. Finally, State Street Corp increased its holdings in shares of Bruker by 9.6% during the 3rd quarter. State Street Corp now owns 3,627,300 shares of the medical research company's stock worth $250,501,000 after acquiring an additional 318,808 shares during the last quarter. Institutional investors and hedge funds own 79.52% of the company's stock.

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Analysts Set New Price Targets

A number of research firms have commented on BRKR. Bank of America lifted their price objective on shares of Bruker from $78.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Wells Fargo & Company decreased their price target on shares of Bruker from $78.00 to $75.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 6th. UBS Group initiated coverage on shares of Bruker in a report on Tuesday, December 10th. They issued a "neutral" rating and a $66.00 price target on the stock. Barclays reduced their price objective on Bruker from $69.00 to $65.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Finally, Citigroup lowered their target price on Bruker from $80.00 to $75.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $70.50.

Bruker Price Performance

NASDAQ BRKR traded up $0.45 during midday trading on Wednesday, hitting $46.87. The company had a trading volume of 2,432,045 shares, compared to its average volume of 1,239,641. The company has a market capitalization of $7.11 billion, a PE ratio of 61.67, a P/E/G ratio of 2.16 and a beta of 1.16. The firm has a 50-day moving average price of $55.60 and a 200-day moving average price of $59.37. Bruker Co. has a twelve month low of $45.29 and a twelve month high of $94.86. The company has a current ratio of 1.60, a quick ratio of 0.77 and a debt-to-equity ratio of 1.15.

Bruker (NASDAQ:BRKR - Get Free Report) last released its earnings results on Thursday, February 13th. The medical research company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.01. Bruker had a return on equity of 21.01% and a net margin of 3.36%. As a group, analysts anticipate that Bruker Co. will post 2.69 earnings per share for the current fiscal year.

Bruker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.43%. Bruker's payout ratio is presently 26.32%.

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.