Canada Pension Plan Investment Board grew its stake in Bruker Co. (NASDAQ:BRKR – Get Rating) by 214.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,200 shares of the medical research company’s stock after buying an additional 9,000 shares during the period. Canada Pension Plan Investment Board’s holdings in Bruker were worth $701,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Wipfli Financial Advisors LLC acquired a new stake in shares of Bruker in the third quarter worth about $25,000. Zions Bancorporation N.A. acquired a new stake in shares of Bruker in the first quarter worth about $26,000. Ronald Blue Trust Inc. acquired a new stake in shares of Bruker in the second quarter worth about $31,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Bruker in the third quarter worth about $32,000. Finally, CoreCap Advisors LLC acquired a new position in shares of Bruker during the 2nd quarter worth about $52,000. Institutional investors and hedge funds own 70.40% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently weighed in on BRKR. TheStreet raised Bruker from a “c+” rating to a “b-” rating in a research report on Friday, November 4th. Citigroup boosted their price objective on Bruker from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 10th. Cowen cut their price objective on Bruker to $75.00 in a research report on Wednesday, November 16th. Finally, StockNews.com raised Bruker from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 7th. One investment analyst has rated the stock with a sell rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.75.
Bruker Trading Down 2.1 %
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 (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.02. Bruker had a return on equity of 34.13% and a net margin of 11.72%. The firm had revenue of $708.40 million for the quarter, compared to analyst estimates of $697.68 million. During the same period in the previous year, the company posted $0.59 earnings per share. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, research analysts predict that Bruker Co. will post 2.56 earnings per share for the current year.
Bruker Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 17th. Stockholders of record on Wednesday, March 1st will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $0.20 annualized dividend and a dividend yield of 0.30%. Bruker’s dividend payout ratio is currently 10.05%.
Insider Activity
In other news, Director Richard A. Packer sold 20,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 59,907 shares in the company, valued at approximately $3,964,645.26. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Cynthia M. Friend sold 921 shares of the business’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard A. Packer sold 20,000 shares of the business’s stock in a transaction that occurred 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
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).
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