Bank of New York Mellon Corp Has $61.65 Million Stock Holdings in Bruker Co. (NASDAQ:BRKR)

Bank of New York Mellon Corp boosted its stake in Bruker Co. (NASDAQ:BRKR) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 966,069 shares of the medical research company’s stock after purchasing an additional 27,870 shares during the period. Bank of New York Mellon Corp owned about 0.66% of Bruker worth $61,645,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in shares of Bruker in the 1st quarter valued at $27,000. Covestor Ltd raised its position in Bruker by 139.1% in the first quarter. Covestor Ltd now owns 361 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 210 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Bruker by 120.4% during the second quarter. First Horizon Advisors Inc. now owns 399 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 218 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Bruker during the fourth quarter worth about $30,000. Finally, GAMMA Investing LLC acquired a new position in shares of Bruker in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 79.52% of the company’s stock.

Bruker Trading Down 0.5 %

Shares of Bruker stock opened at $67.19 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.91 and a current ratio of 1.81. Bruker Co. has a 52 week low of $53.79 and a 52 week high of $94.86. The stock has a 50 day moving average price of $63.87 and a two-hundred day moving average price of $74.76. The stock has a market capitalization of $9.77 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 2.39 and a beta of 1.20.

Bruker (NASDAQ:BRKR) last released its quarterly earnings data on Tuesday, August 6th. The medical research company reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. The firm had revenue of $800.70 million for the quarter, compared to analyst estimates of $799.44 million. Bruker had a net margin of 13.38% and a return on equity of 27.31%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the firm earned $0.50 earnings per share. As a group, equities analysts anticipate that Bruker Co. will post 2.66 earnings per share for the current fiscal year.

Bruker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 2nd will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Friday, August 30th. Bruker’s payout ratio is currently 7.27%.

Analyst Ratings Changes

Several research firms recently commented on BRKR. StockNews.com downgraded shares of Bruker from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. The Goldman Sachs Group reduced their price objective on shares of Bruker from $72.00 to $60.00 and set a “sell” rating on the stock in a research note on Tuesday, July 9th. Jefferies Financial Group began coverage on Bruker in a research report on Monday, June 3rd. They set a “buy” rating and a $85.00 target price for the company. Stifel Nicolaus reduced their price target on Bruker from $81.00 to $77.00 and set a “hold” rating on the stock in a research report on Monday, May 20th. Finally, TD Cowen decreased their price target on Bruker from $74.00 to $72.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Bruker currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.40.

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.