Hsbc Holdings PLC Boosts Stock Holdings in Bruker Co. (NASDAQ:BRKR)

Posted by Defense World Staff on Feb 26th, 2023

Hsbc Holdings PLC raised its holdings in Bruker Co. (NASDAQ:BRKR – Get Rating) by 189.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,545 shares of the medical research company’s stock after purchasing an additional 43,591 shares during the period. Hsbc Holdings PLC’s holdings in Bruker were worth $3,547,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Pictet Asset Management SA lifted its position in Bruker by 0.8% during the third quarter. Pictet Asset Management SA now owns 489,264 shares of the medical research company’s stock valued at $25,960,000 after purchasing an additional 4,027 shares during the last quarter. Brown Advisory Inc. raised its holdings in Bruker by 4.4% during the 3rd quarter. Brown Advisory Inc. now owns 1,509,132 shares of the medical research company’s stock valued at $80,074,000 after buying an additional 63,399 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Bruker by 2.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 65,338 shares of the medical research company’s stock valued at $3,467,000 after purchasing an additional 1,525 shares during the period. Credit Suisse AG increased its position in Bruker by 93.9% during the 3rd quarter. Credit Suisse AG now owns 170,268 shares of the medical research company’s stock valued at $9,034,000 after purchasing an additional 82,476 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Bruker by 1.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,178,563 shares of the medical research company’s stock valued at $62,534,000 after purchasing an additional 16,264 shares during the period. Hedge funds and other institutional investors own 70.40% of the company’s stock.

Insider Buying and Selling at Bruker

In other Bruker news, Director Cynthia M. Friend sold 921 shares of the company’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $68.26, for a total transaction of $62,867.46. Following the transaction, the director now owns 11,576 shares in the company, valued at approximately $790,177.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Bruker news, Director Cynthia M. Friend sold 921 shares of the company’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $68.26, for a total transaction of $62,867.46. Following the transaction, the director now owns 11,576 shares in the company, valued at approximately $790,177.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard A. Packer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $66.18, for a total transaction of $1,323,600.00. Following the completion of the transaction, the director now owns 59,907 shares in the company, valued at approximately $3,964,645.26. The disclosure for this sale can be found here. Company insiders own 27.60% of the company’s stock.

Bruker Stock Performance

Shares of Bruker stock opened at $69.40 on Friday. The stock has a market cap of $10.21 billion, a price-to-earnings ratio of 34.87, a PEG ratio of 1.26 and a beta of 1.17. The firm’s 50-day moving average is $70.08 and its 200 day moving average is $63.75. Bruker Co. has a 1 year low of $48.42 and a 1 year high of $76.81. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.32 and a quick ratio of 1.45.

Bruker (NASDAQ:BRKR – Get Rating) last announced its quarterly earnings results on Thursday, February 9th. The medical research company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. The company had revenue of $708.40 million for the quarter, compared to analysts’ expectations of $697.68 million. Bruker had a net margin of 11.72% and a return on equity of 34.13%. Bruker’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 EPS. Sell-side analysts anticipate that Bruker Co. will post 2.56 EPS for the current fiscal year.

Bruker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 17th. Shareholders of record on Wednesday, March 1st will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.29%. The ex-dividend date is Tuesday, February 28th. Bruker’s dividend payout ratio is currently 10.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BRKR. Citigroup boosted their price objective on shares of Bruker from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, February 10th. TheStreet raised shares of Bruker from a “c+” rating to a “b-” rating in a research report on Friday, November 4th. StockNews.com raised shares of Bruker from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 7th. Finally, Cowen reduced their target price on shares of Bruker to $75.00 in a research report on Wednesday, November 16th. One investment analyst has rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.75.

About Bruker

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Bruker Corp. engages in the development, manufacture, and distribution of scientific instruments, and analytical and diagnostic solutions that enable customers to explore life and materials at microscopic, molecular, and cellular levels. It operates through the following segments: Bruker Scientific Instruments (BSI) Life Science, BSI Nano, and Bruker Energy and Supercon Technologies (BEST).