Bruker Co. (NASDAQ:BRKR) Position Reduced by Truist Financial Corp

Truist Financial Corp cut its position in shares of Bruker Co. (NASDAQ:BRKR) by 10.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,513 shares of the medical research company’s stock after selling 431 shares during the quarter. Truist Financial Corp’s holdings in Bruker were worth $224,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Horizon Advisors Inc. boosted its holdings in Bruker by 120.4% during the second quarter. First Horizon Advisors Inc. now owns 399 shares of the medical research company’s stock worth $25,000 after buying an additional 218 shares in the last quarter. Covestor Ltd grew its holdings in shares of Bruker by 139.1% in the 1st quarter. Covestor Ltd now owns 361 shares of the medical research company’s stock worth $34,000 after acquiring an additional 210 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Bruker by 20.0% during the second quarter. Nisa Investment Advisors LLC now owns 991 shares of the medical research company’s stock worth $63,000 after purchasing an additional 165 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Bruker by 40.7% during the first quarter. EverSource Wealth Advisors LLC now owns 858 shares of the medical research company’s stock valued at $81,000 after purchasing an additional 248 shares during the last quarter. Finally, Park Place Capital Corp boosted its position in shares of Bruker by 19.4% in the 1st quarter. Park Place Capital Corp now owns 1,139 shares of the medical research company’s stock valued at $107,000 after purchasing an additional 185 shares during the period. Institutional investors own 79.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on BRKR shares. Citigroup reduced their price objective on shares of Bruker from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Barclays started coverage on shares of Bruker in a research report on Tuesday, October 15th. They set an “overweight” rating and a $75.00 price objective on the stock. The Goldman Sachs Group reduced their target price on Bruker from $72.00 to $60.00 and set a “sell” rating for the company in a report on Tuesday, July 9th. TD Cowen lowered their price target on Bruker from $74.00 to $72.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Finally, Wolfe Research downgraded Bruker from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $80.82.

Bruker Stock Up 3.2 %

Shares of BRKR stock opened at $62.45 on Friday. The stock has a 50 day moving average of $65.10 and a 200-day moving average of $69.01. The firm has a market cap of $9.08 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 2.52 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 Co. has a 12 month low of $53.79 and a 12 month high of $94.86.

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

Bruker Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend was Friday, August 30th. Bruker’s payout ratio is 7.27%.

Bruker Company 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.