Bruker Co. (NASDAQ:BRKR) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 2,475,600 shares, an increase of 44.3% from the July 31st total of 1,715,200 shares. Based on an average daily volume of 932,000 shares, the days-to-cover ratio is currently 2.7 days. Currently, 2.4% of the shares of the stock are sold short.
A number of research firms have recently weighed in on BRKR. BTIG Research boosted their target price on Bruker to $57.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Bank of America restated a “neutral” rating and set a $52.00 target price (up previously from $44.00) on shares of Bruker in a research report on Friday, June 21st. Goldman Sachs Group upgraded Bruker from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $32.00 to $48.00 in a research report on Monday, July 15th. Barclays restated a “hold” rating and set a $44.00 target price on shares of Bruker in a research report on Monday, June 24th. Finally, Wolfe Research began coverage on Bruker in a research report on Thursday, May 30th. They set a “peer perform” rating for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Bruker has an average rating of “Buy” and a consensus target price of $48.18.
NASDAQ BRKR traded up $0.09 on Friday, reaching $43.45. The company had a trading volume of 37,511 shares, compared to its average volume of 824,416. The stock’s 50 day moving average is $43.07 and its 200-day moving average is $42.58. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of 31.07, a PEG ratio of 2.12 and a beta of 1.41. The company has a quick ratio of 1.27, a current ratio of 2.19 and a debt-to-equity ratio of 0.63. Bruker has a 52 week low of $26.10 and a 52 week high of $51.41.
Bruker (NASDAQ:BRKR) last released its quarterly earnings data on Thursday, August 1st. The medical research company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The business had revenue of $490.20 million during the quarter, compared to the consensus estimate of $477.70 million. Bruker had a return on equity of 27.10% and a net margin of 9.57%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.25 earnings per share. As a group, analysts forecast that Bruker will post 1.61 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Tuesday, September 3rd will be issued a $0.04 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.16 dividend on an annualized basis and a yield of 0.37%. Bruker’s dividend payout ratio is presently 11.43%.
In other Bruker news, CEO Burkhard Prause sold 15,702 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $42.96, for a total value of $674,557.92. Following the transaction, the chief executive officer now owns 1,338 shares of the company’s stock, valued at $57,480.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 26.50% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRKR. Invesco Ltd. increased its holdings in Bruker by 2,436.8% in the second quarter. Invesco Ltd. now owns 1,698,456 shares of the medical research company’s stock valued at $84,838,000 after purchasing an additional 1,631,502 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in Bruker in the second quarter valued at about $54,644,000. APG Asset Management N.V. grew its stake in Bruker by 302.3% in the second quarter. APG Asset Management N.V. now owns 368,100 shares of the medical research company’s stock valued at $16,146,000 after acquiring an additional 276,600 shares during the period. First Trust Advisors LP grew its stake in Bruker by 39.1% in the second quarter. First Trust Advisors LP now owns 830,819 shares of the medical research company’s stock valued at $41,499,000 after acquiring an additional 233,531 shares during the period. Finally, Sector Gamma AS acquired a new position in Bruker in the second quarter valued at about $11,139,000. Institutional investors and hedge funds own 67.73% of the company’s stock.
Bruker Corporation manufactures and distributes scientific instruments, and analytical and diagnostic solutions in the United States, Europe, the Asia Pacific, and internationally. The company operates in two segments, Bruker Scientific Instruments, and Bruker Energy & Supercon Technologies. It offers life science tools based on magnetic resonance technology; life science mass spectrometry and ion mobility spectrometry solutions; infrared spectroscopy and radiological/nuclear detectors for chemical, biological, radiological, nuclear, and explosive detection in emergency response, homeland security, and defense applications; and research, analytical, and process analysis instruments and solutions based on infrared and Raman molecular spectroscopy technologies.
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