Raymond James & Associates Sells 8,556 Shares of Bruker Co. (NASDAQ:BRKR)

Raymond James & Associates lessened its stake in shares of Bruker Co. (NASDAQ:BRKR) by 22.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 28,973 shares of the medical research company’s stock after selling 8,556 shares during the quarter. Raymond James & Associates’ holdings in Bruker were worth $2,129,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Bruker by 4.5% during the first quarter. Vanguard Group Inc. now owns 11,253,314 shares of the medical research company’s stock worth $723,588,000 after purchasing an additional 487,688 shares during the period. BlackRock Inc. raised its position in shares of Bruker by 2.7% in the 1st quarter. BlackRock Inc. now owns 11,135,940 shares of the medical research company’s stock valued at $716,042,000 after buying an additional 291,386 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Bruker by 8.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,840,735 shares of the medical research company’s stock worth $488,478,000 after acquiring an additional 594,362 shares during the period. RTW Investments LP boosted its position in shares of Bruker by 14.3% during the 3rd quarter. RTW Investments LP now owns 3,381,703 shares of the medical research company’s stock worth $210,680,000 after acquiring an additional 422,100 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Bruker by 2.2% during the 1st quarter. State Street Corp now owns 3,308,939 shares of the medical research company’s stock worth $260,877,000 after acquiring an additional 71,574 shares in the last quarter. 79.52% of the stock is currently owned by institutional investors and hedge funds.

Bruker Price Performance

Shares of BRKR opened at $83.89 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.80 and a debt-to-equity ratio of 0.83. The stock has a market cap of $11.55 billion, a PE ratio of 28.73, a PEG ratio of 2.22 and a beta of 1.17. Bruker Co. has a 12-month low of $53.79 and a 12-month high of $94.86. The business has a 50-day simple moving average of $87.24 and a two-hundred day simple moving average of $73.76.

Bruker (NASDAQ:BRKR) last released its quarterly earnings results on Tuesday, February 13th. The medical research company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. The company had revenue of $844.50 million for the quarter, compared to analysts’ expectations of $809.35 million. Bruker had a return on equity of 29.94% and a net margin of 14.41%. The business’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 earnings per share. Analysts anticipate that Bruker Co. will post 2.74 earnings per share for the current fiscal year.

Bruker Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.24%. The ex-dividend date was Thursday, February 29th. Bruker’s payout ratio is currently 6.85%.

Wall Street Analysts Forecast Growth

BRKR has been the subject of several research analyst reports. JPMorgan Chase & Co. upgraded Bruker from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $60.00 to $90.00 in a research note on Wednesday, February 14th. Citigroup upped their price objective on Bruker from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. The Goldman Sachs Group raised their price objective on Bruker from $66.00 to $74.00 and gave the company a “sell” rating in a research note on Wednesday, April 10th. Wells Fargo & Company started coverage on Bruker in a research note on Tuesday, December 19th. They set an “equal weight” rating and a $72.00 target price for the company. Finally, UBS Group increased their target price on shares of Bruker from $94.00 to $102.00 and gave the stock a “buy” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.86.

Insider Transactions at Bruker

In related news, Director Hermann Fritz Requardt sold 15,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $90.06, for a total value of $1,350,900.00. Following the sale, the director now owns 23,147 shares of the company’s stock, valued at $2,084,618.82. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 28.20% of the stock is owned by company insiders.

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.