Gabelli Funds LLC Decreases Position in Bruker Co. (NASDAQ:BRKR)

Gabelli Funds LLC decreased its position in Bruker Co. (NASDAQ:BRKR) by 6.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 12,500 shares of the medical research company’s stock after selling 800 shares during the period. Gabelli Funds LLC’s holdings in Bruker were worth $798,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ProShare Advisors LLC increased its holdings in Bruker by 12.6% during the 2nd quarter. ProShare Advisors LLC now owns 7,953 shares of the medical research company’s stock valued at $507,000 after acquiring an additional 888 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in Bruker by 0.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 30,911 shares of the medical research company’s stock valued at $1,972,000 after buying an additional 235 shares during the last quarter. Sei Investments Co. increased its position in Bruker by 63.7% during the second quarter. Sei Investments Co. now owns 56,616 shares of the medical research company’s stock worth $3,613,000 after buying an additional 22,037 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Bruker by 3.7% in the second quarter. Pacer Advisors Inc. now owns 14,563 shares of the medical research company’s stock worth $929,000 after acquiring an additional 522 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Bruker in the 2nd quarter valued at about $258,000. Institutional investors and hedge funds own 79.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on BRKR shares. Jefferies Financial Group initiated coverage on shares of Bruker in a research note on Monday, June 3rd. They issued a “buy” rating and a $85.00 target price for the company. Wells Fargo & Company started coverage on Bruker in a research report on Tuesday, August 27th. They set an “overweight” rating and a $78.00 target price on the stock. TD Cowen lowered their price target on Bruker from $74.00 to $72.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. The Goldman Sachs Group cut their price objective on shares of Bruker from $72.00 to $60.00 and set a “sell” rating on the stock in a report on Tuesday, July 9th. Finally, Citigroup lowered their target price on shares of Bruker from $95.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.40.

Bruker Trading Up 4.7 %

Shares of BRKR stock opened at $70.44 on Friday. Bruker Co. has a fifty-two week low of $53.79 and a fifty-two week high of $94.86. The firm’s 50 day moving average price is $64.90 and its two-hundred day moving average price is $72.25. The stock has a market cap of $10.24 billion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of 2.43 and a beta of 1.18. The company has a quick ratio of 0.75, a current ratio of 1.65 and a debt-to-equity ratio of 1.18.

Bruker (NASDAQ:BRKR) last announced its quarterly earnings results on Tuesday, August 6th. The medical research company reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. Bruker had a net margin of 11.29% and a return on equity of 24.92%. The firm had revenue of $800.70 million during the quarter, compared to analysts’ expectations of $799.44 million. During the same period in the prior year, the company earned $0.50 EPS. The firm’s revenue was up 17.4% on a year-over-year basis. On average, analysts anticipate that Bruker Co. will post 2.61 EPS for the current year.

Bruker Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were issued a dividend of $0.05 per share. The ex-dividend date was Friday, August 30th. This represents a $0.20 annualized dividend and a dividend yield of 0.28%. Bruker’s payout ratio is currently 7.27%.

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.