M&T Bank Corp Has $634,000 Stock Position in Bruker Corporation (NASDAQ:BRKR)

M&T Bank Corp trimmed its position in Bruker Corporation (NASDAQ:BRKR) by 15.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,169 shares of the medical research company’s stock after selling 2,701 shares during the quarter. M&T Bank Corp’s holdings in Bruker were worth $634,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. London Co. of Virginia increased its holdings in Bruker by 78.4% in the 4th quarter. London Co. of Virginia now owns 4,193,454 shares of the medical research company’s stock valued at $245,820,000 after buying an additional 1,843,294 shares during the period. Brown Advisory Inc. increased its holdings in Bruker by 18.9% in the 1st quarter. Brown Advisory Inc. now owns 2,410,137 shares of the medical research company’s stock valued at $100,599,000 after buying an additional 383,425 shares during the period. Geode Capital Management LLC increased its holdings in Bruker by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 2,013,741 shares of the medical research company’s stock valued at $118,081,000 after buying an additional 20,273 shares during the period. FIL Ltd increased its holdings in Bruker by 262.3% in the 4th quarter. FIL Ltd now owns 1,961,416 shares of the medical research company’s stock valued at $114,978,000 after buying an additional 1,420,102 shares during the period. Finally, Sculptor Capital LP grew its holdings in shares of Bruker by 484.1% in the 4th quarter. Sculptor Capital LP now owns 1,714,015 shares of the medical research company’s stock worth $100,476,000 after purchasing an additional 1,420,569 shares during the last quarter. 79.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Bruker Price Performance

NASDAQ:BRKR opened at $41.96 on Wednesday. Bruker Corporation has a 1-year low of $34.10 and a 1-year high of $72.94. 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 fifty day simple moving average of $39.32 and a 200 day simple moving average of $45.24. The stock has a market capitalization of $6.36 billion, a PE ratio of 80.69, a P/E/G ratio of 2.90 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, topping analysts’ consensus estimates of $0.46 by $0.01. Bruker had a return on equity of 19.47% and a net margin of 2.31%. The company had revenue of $801.40 million during the quarter, compared to the consensus estimate of $763.83 million. During the same quarter last year, the firm earned $0.53 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. On average, research analysts expect that Bruker Corporation will post 2.69 EPS for the current fiscal year.

Bruker Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Monday, June 16th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, June 16th. Bruker’s dividend payout ratio (DPR) is currently 38.46%.

Insider Activity at Bruker

In related news, CEO Frank H. Laukien acquired 2,608 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The shares were bought at an average cost of $38.36 per share, with a total value 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. The trade was a 0.01% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 27.30% of the stock is currently owned by corporate insiders.

About Bruker

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.