Healthcare of Ontario Pension Plan Trust Fund Boosts Stake in Bruker Co. (NASDAQ:BRKR)

Posted by Defense World Staff on Feb 27th, 2023

Healthcare of Ontario Pension Plan Trust Fund increased its position in Bruker Co. (NASDAQ:BRKR – Get Rating) by 388.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 23,494 shares of the medical research company’s stock after purchasing an additional 18,681 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Bruker were worth $1,247,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company raised its stake in Bruker by 4.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 196,243 shares of the medical research company’s stock valued at $10,388,000 after acquiring an additional 9,157 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Bruker by 5.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 262,499 shares of the medical research company’s stock valued at $16,473,000 after acquiring an additional 13,911 shares during the last quarter. Pictet Asset Management SA increased its position in Bruker by 0.8% during the 3rd quarter. Pictet Asset Management SA now owns 489,264 shares of the medical research company’s stock worth $25,960,000 after purchasing an additional 4,027 shares during the period. Ronald Blue Trust Inc. acquired a new position in Bruker during the 2nd quarter worth approximately $31,000. Finally, AQR Capital Management LLC increased its position in Bruker by 18.5% during the 2nd quarter. AQR Capital Management LLC now owns 468,621 shares of the medical research company’s stock worth $28,890,000 after purchasing an additional 73,098 shares during the period. 70.40% of the stock is owned by hedge funds and other institutional investors.

Bruker Price Performance

Shares of NASDAQ:BRKR opened at $69.40 on Monday. The business’s fifty day moving average price is $70.08 and its two-hundred day moving average price is $63.76. The stock has a market cap of $10.21 billion, a PE ratio of 34.87, a price-to-earnings-growth ratio of 1.22 and a beta of 1.17. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.45 and a current ratio of 2.32. Bruker Co. has a one year low of $48.42 and a one year high of $76.81.

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

Bruker Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend is Tuesday, February 28th. Bruker’s dividend payout ratio is presently 10.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Cowen dropped their target price on Bruker to $75.00 in a research report on Wednesday, November 16th. StockNews.com upgraded Bruker from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 7th. TheStreet upgraded Bruker from a “c+” rating to a “b-” rating in a report on Friday, November 4th. Finally, Citigroup upped their price target on Bruker from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, February 10th. One analyst has rated the stock with a sell rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.75.

Insiders Place Their Bets

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

Bruker Company Profile

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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).