M&G PLC reduced its stake in shares of Bruker Corporation (NASDAQ:BRKR – Free Report) by 62.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 425,645 shares of the medical research company’s stock after selling 699,911 shares during the quarter. M&G PLC’s holdings in Bruker were worth $27,667,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC bought a new position in Bruker in the 2nd quarter worth approximately $38,000. Provenance Wealth Advisors LLC bought a new position in Bruker in the 3rd quarter valued at $52,000. Root Financial Partners LLC bought a new position in Bruker in the 3rd quarter valued at $57,000. Essential Partners LLC acquired a new stake in shares of Bruker in the 1st quarter valued at $36,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Bruker in the 2nd quarter valued at $60,000. Institutional investors and hedge funds own 79.52% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the company. Leerink Partners boosted their target price on Bruker from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, November 5th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Bruker in a report on Monday, August 31st. Barclays lifted their price objective on Bruker from $58.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. UBS Group started coverage on shares of Bruker in a research report on Wednesday, September 9th. They set a “neutral” rating and a $65.00 target price on the stock. Finally, Zacks Research lowered shares of Bruker from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.57.
Read Our Latest Report on BRKR
Insider Buying and Selling
In related news, VP Mark Munch sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $52.87, for a total value of $105,740.00. Following the completion of the sale, the vice president owned 134,806 shares in the company, valued at approximately $7,127,193.22. This represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 27.20% of the company’s stock.
Bruker Stock Performance
Shares of Bruker stock opened at $66.54 on Tuesday. The firm has a fifty day moving average of $59.20 and a two-hundred day moving average of $50.66. The stock has a market capitalization of $10.14 billion, a price-to-earnings ratio of -60.49, a PEG ratio of 1.95 and a beta of 1.26. Bruker Corporation has a 52 week low of $32.37 and a 52 week high of $68.98. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.92 and a current ratio of 1.84.
Bruker (NASDAQ:BRKR – Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The medical research company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.14. Bruker had a positive return on equity of 13.76% and a negative net margin of 3.82%. The company had revenue of $874.00 million for the quarter, compared to the consensus estimate of $865.16 million. During the same quarter in the prior year, the business posted $0.45 EPS. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, equities research analysts predict that Bruker Corporation will post 2.13 EPS for the current year.
Bruker Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Investors of record on Monday, September 21st were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, September 21st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. Bruker’s payout ratio is -18.18%.
Bruker Profile
Bruker develops and manufactures scientific instruments and analytical technologies used to study biological, chemical and physical materials. Its products support research and testing in areas including life sciences, pharmaceuticals, biotechnology, materials science, chemicals and clinical diagnostics.
The company’s offerings include nuclear magnetic resonance and electron paramagnetic resonance systems, mass spectrometers, X-ray and microscopy instruments, and infrared and Raman spectroscopy solutions.
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