Envestnet Portfolio Solutions Inc. Lowers Stock Holdings in Bruker Corporation (NASDAQ:BRKR)

Envestnet Portfolio Solutions Inc. lessened its holdings in Bruker Corporation (NASDAQ:BRKR) by 70.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 5,181 shares of the medical research company’s stock after selling 12,436 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Bruker were worth $216,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of BRKR. Rakuten Securities Inc. bought a new stake in Bruker during the 1st quarter valued at approximately $167,000. Wealth Enhancement Advisory Services LLC grew its holdings in Bruker by 81.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 29,826 shares of the medical research company’s stock valued at $1,245,000 after buying an additional 13,367 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Bruker by 54.2% during the first quarter. Fifth Third Bancorp now owns 1,109 shares of the medical research company’s stock valued at $46,000 after buying an additional 390 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Bruker by 15.4% in the first quarter. Handelsbanken Fonder AB now owns 32,300 shares of the medical research company’s stock worth $1,348,000 after buying an additional 4,300 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its position in shares of Bruker by 28.0% during the first quarter. Park Avenue Securities LLC now owns 9,469 shares of the medical research company’s stock worth $395,000 after acquiring an additional 2,074 shares during the last quarter. Hedge funds and other institutional investors own 79.52% of the company’s stock.

Insider Activity at Bruker

In related news, CEO Frank H. Laukien purchased 2,608 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was purchased at an average price of $38.36 per share, with a total value of $100,042.88. Following the completion of the purchase, the chief executive officer owned 38,462,171 shares of the company’s stock, valued at approximately $1,475,408,879.56. The trade was a 0.01% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 27.30% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. UBS Group decreased their price target on shares of Bruker from $57.00 to $45.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Citigroup downgraded Bruker from a “strong-buy” rating to a “hold” rating and decreased their target price for the stock from $50.00 to $40.00 in a research report on Thursday, May 22nd. Wells Fargo & Company dropped their price target on Bruker from $75.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Stifel Nicolaus cut their price target on Bruker from $57.00 to $48.00 and set a “hold” rating for the company in a report on Thursday, May 8th. Finally, Bank of America decreased their price objective on Bruker from $61.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $52.89.

Bruker Stock Performance

NASDAQ BRKR opened at $41.20 on Tuesday. The business’s 50 day moving average price is $38.62 and its 200-day moving average price is $46.30. Bruker Corporation has a fifty-two week low of $34.10 and a fifty-two week high of $72.94. The company has a market cap of $6.24 billion, a P/E ratio of 79.23, a P/E/G ratio of 2.81 and a beta of 1.16. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.74 and a current ratio of 1.57.

Bruker (NASDAQ:BRKR) last posted its quarterly earnings data on Wednesday, May 7th. The medical research company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $801.40 million for the quarter, compared to analysts’ expectations of $763.83 million. Bruker had a net margin of 2.31% and a return on equity of 19.47%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 earnings per share. Sell-side analysts predict that Bruker Corporation will post 2.69 earnings per share for the current year.

Bruker Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Monday, June 16th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.20 dividend on an annualized basis and a yield of 0.49%. Bruker’s dividend payout ratio is currently 38.46%.

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.