Bruker Corporation (NASDAQ:BRKR) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its stake in Bruker Corporation (NASDAQ:BRKR) by 6.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 921,308 shares of the medical research company’s stock after selling 67,555 shares during the period. Bank of New York Mellon Corp owned 0.61% of Bruker worth $38,455,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Proficio Capital Partners LLC purchased a new stake in Bruker in the 4th quarter valued at $608,000. Raymond James Financial Inc. purchased a new position in Bruker during the 4th quarter worth $661,000. PNC Financial Services Group Inc. lifted its stake in shares of Bruker by 225.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 20,225 shares of the medical research company’s stock worth $1,186,000 after acquiring an additional 14,011 shares during the period. HighTower Advisors LLC lifted its stake in shares of Bruker by 6.8% in the 4th quarter. HighTower Advisors LLC now owns 6,972 shares of the medical research company’s stock worth $409,000 after acquiring an additional 444 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Bruker by 41.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the medical research company’s stock worth $78,000 after acquiring an additional 390 shares during the period. Institutional investors and hedge funds own 79.52% of the company’s stock.

Bruker Stock Performance

NASDAQ:BRKR opened at $43.21 on Tuesday. The company has a current ratio of 1.57, a quick ratio of 0.74 and a debt-to-equity ratio of 1.13. The firm has a 50-day moving average price of $39.22 and a two-hundred day moving average price of $45.37. Bruker Corporation has a twelve month low of $34.10 and a twelve month high of $72.94. The company has a market capitalization of $6.55 billion, a P/E ratio of 83.10, a price-to-earnings-growth ratio of 2.94 and a beta of 1.18.

Bruker (NASDAQ:BRKR) last posted its earnings results on Wednesday, May 7th. The medical research company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. The firm had revenue of $801.40 million during the quarter, compared to the consensus estimate of $763.83 million. Bruker had a net margin of 2.31% and a return on equity of 19.47%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $0.53 EPS. As a group, research analysts expect that Bruker Corporation will post 2.69 earnings per share for the current fiscal year.

Bruker Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Monday, June 16th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.20 annualized dividend and a dividend yield of 0.46%. Bruker’s dividend payout ratio is presently 38.46%.

Insider Activity

In other Bruker news, CEO Frank H. Laukien acquired 2,608 shares of the firm’s stock in a transaction on Friday, June 6th. The stock was bought at an average cost of $38.36 per share, for a total transaction of $100,042.88. Following the completion of the purchase, the chief executive officer directly owned 38,462,171 shares in the company, valued at $1,475,408,879.56. This represents a 0.01% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 27.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BRKR shares. Citigroup cut shares of Bruker from a “strong-buy” rating to a “hold” rating and reduced their target price for the stock from $50.00 to $40.00 in a research note on Thursday, May 22nd. Stifel Nicolaus reduced their target price on shares of Bruker from $57.00 to $48.00 and set a “hold” rating for the company in a research note on Thursday, May 8th. The Goldman Sachs Group reduced their target price on shares of Bruker from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Barclays reduced their target price on shares of Bruker from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Finally, Bank of America reduced their target price on shares of Bruker from $61.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, June 26th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $52.89.

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.