Mutual of America Capital Management LLC Decreases Position in Bruker Corporation (NASDAQ:BRKR)

Mutual of America Capital Management LLC trimmed its holdings in Bruker Corporation (NASDAQ:BRKR) by 2.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,957 shares of the medical research company’s stock after selling 1,501 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Bruker were worth $2,377,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Pinnacle Bancorp Inc. bought a new stake in Bruker during the 1st quarter valued at $29,000. Allworth Financial LP raised its stake in shares of Bruker by 92.4% during the 1st quarter. Allworth Financial LP now owns 758 shares of the medical research company’s stock valued at $30,000 after buying an additional 364 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Bruker by 274.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,091 shares of the medical research company’s stock valued at $46,000 after buying an additional 800 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Bruker by 54.2% during the 1st 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. Finally, UMB Bank n.a. increased its stake in shares of Bruker by 45.8% in the 1st quarter. UMB Bank n.a. now owns 1,325 shares of the medical research company’s stock valued at $55,000 after purchasing an additional 416 shares in the last quarter. 79.52% of the stock is currently owned by hedge funds and other institutional investors.

Bruker Price Performance

Shares of NASDAQ:BRKR opened at $40.55 on Friday. The company has a 50-day simple moving average of $39.43 and a 200-day simple moving average of $44.89. Bruker Corporation has a one year low of $34.10 and a one year high of $72.94. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.74 and a current ratio of 1.57. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 77.98, a PEG ratio of 2.73 and a beta of 1.18.

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

Bruker Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Monday, June 16th were issued a dividend of $0.05 per share. The ex-dividend date was Monday, June 16th. This represents a $0.20 annualized dividend and a dividend yield of 0.49%. Bruker’s payout ratio is 38.46%.

Wall Street Analyst Weigh In

BRKR has been the topic of several research analyst reports. Stifel Nicolaus lowered their price objective on Bruker from $57.00 to $48.00 and set a “hold” rating on the stock in a report on Thursday, May 8th. The Goldman Sachs Group reduced their price target 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 lowered shares of Bruker from a “strong-buy” rating to a “hold” rating and reduced their price target for the company from $50.00 to $40.00 in a research report on Thursday, May 22nd. UBS Group reduced their price target on shares of Bruker from $57.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Finally, Bank of America cut their target price on Bruker from $61.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $52.89.

Insider Buying and Selling at Bruker

In other news, CEO Frank H. Laukien purchased 2,608 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were purchased at an average price of $38.36 per share, with a total value of $100,042.88. Following the purchase, the chief executive officer directly owned 38,462,171 shares of the company’s stock, valued at approximately $1,475,408,879.56. This represents a 0.01% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 27.30% of the company’s stock.

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.