Ellington Management Group LLC Takes Position in Bruker Co. (NASDAQ:BRKR)

Ellington Management Group LLC acquired a new stake in shares of Bruker Co. (NASDAQ:BRKR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,000 shares of the medical research company’s stock, valued at approximately $450,000.

Several other institutional investors and hedge funds also recently made changes to their positions in BRKR. Dimensional Fund Advisors LP grew its holdings in shares of Bruker by 4.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,013,763 shares of the medical research company’s stock valued at $30,178,000 after buying an additional 46,244 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in Bruker in the first quarter valued at $2,873,000. State Board of Administration of Florida Retirement System boosted its holdings in Bruker by 4.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 150,679 shares of the medical research company’s stock valued at $5,792,000 after purchasing an additional 5,877 shares during the last quarter. California Public Employees Retirement System boosted its holdings in Bruker by 25.9% in the first quarter. California Public Employees Retirement System now owns 268,050 shares of the medical research company’s stock valued at $10,304,000 after purchasing an additional 55,189 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new stake in Bruker in the first quarter valued at $214,000. 66.59% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO Burkhard Prause sold 15,702 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $42.96, for a total transaction of $674,557.92. Following the completion of the transaction, the chief executive officer now owns 1,338 shares in the company, valued at approximately $57,480.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Mark Munch sold 47,203 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $42.87, for a total transaction of $2,023,592.61. Following the transaction, the vice president now owns 96,063 shares of the company’s stock, valued at approximately $4,118,220.81. The disclosure for this sale can be found here. Corporate insiders own 26.50% of the company’s stock.

Shares of Bruker stock opened at $42.75 on Wednesday. The firm has a 50-day simple moving average of $42.53 and a two-hundred day simple moving average of $42.71. The company has a market cap of $6.72 billion, a P/E ratio of 30.34, a price-to-earnings-growth ratio of 2.16 and a beta of 1.41. Bruker Co. has a fifty-two week low of $26.10 and a fifty-two week high of $51.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.27 and a current ratio of 2.19.

Bruker (NASDAQ:BRKR) last issued its quarterly earnings data on Thursday, August 1st. The medical research company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The business had revenue of $490.20 million during the quarter, compared to the consensus estimate of $477.70 million. Bruker had a net margin of 9.57% and a return on equity of 27.10%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Equities research analysts forecast that Bruker Co. will post 1.61 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Tuesday, September 3rd will be given a $0.04 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.37%. Bruker’s dividend payout ratio (DPR) is currently 11.43%.

Several equities research analysts have commented on BRKR shares. Goldman Sachs Group raised shares of Bruker from a “sell” rating to a “neutral” rating and upped their price target for the company from $32.00 to $48.00 in a report on Monday, July 15th. Barclays reaffirmed a “hold” rating and issued a $44.00 price target on shares of Bruker in a report on Monday, June 24th. BidaskClub lowered shares of Bruker from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Bank of America reaffirmed a “neutral” rating and issued a $52.00 price target (up from $44.00) on shares of Bruker in a report on Friday, June 21st. Finally, ValuEngine raised shares of Bruker from a “hold” rating to a “buy” rating in a report on Saturday, August 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Bruker currently has an average rating of “Buy” and a consensus target price of $48.18.

About Bruker

Bruker Corporation manufactures and distributes scientific instruments, and analytical and diagnostic solutions in the United States, Europe, the Asia Pacific, and internationally. The company operates in two segments, Bruker Scientific Instruments, and Bruker Energy & Supercon Technologies. It offers life science tools based on magnetic resonance technology; life science mass spectrometry and ion mobility spectrometry solutions; infrared spectroscopy and radiological/nuclear detectors for chemical, biological, radiological, nuclear, and explosive detection in emergency response, homeland security, and defense applications; and research, analytical, and process analysis instruments and solutions based on infrared and Raman molecular spectroscopy technologies.

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Institutional Ownership by Quarter for Bruker (NASDAQ:BRKR)

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