Bruker Co. (NASDAQ:BRKR) Shares Purchased by Bank of America Corp DE

Posted by Defense World Staff on Jun 4th, 2023

Bank of America Corp DE increased its stake in shares of Bruker Co. (NASDAQ:BRKR – Get Rating) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,255,148 shares of the medical research company’s stock after purchasing an additional 33,495 shares during the period. Bank of America Corp DE owned 0.85% of Bruker worth $85,789,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Zions Bancorporation N.A. acquired a new position in shares of Bruker during the 1st quarter worth approximately $26,000. Belpointe Asset Management LLC acquired a new position in shares of Bruker during the 4th quarter worth approximately $28,000. CoreCap Advisors LLC acquired a new position in shares of Bruker during the 4th quarter worth approximately $42,000. Neo Ivy Capital Management acquired a new position in shares of Bruker during the 3rd quarter worth approximately $57,000. Finally, CI Investments Inc. raised its holdings in Bruker by 91.5% in the 4th quarter. CI Investments Inc. now owns 1,019 shares of the medical research company’s stock valued at $70,000 after acquiring an additional 487 shares during the last quarter. 70.40% of the stock is currently owned by institutional investors and hedge funds.

Bruker Stock Up 0.6 %

Shares of NASDAQ BRKR opened at $71.39 on Friday. Bruker Co. has a 52-week low of $48.42 and a 52-week high of $84.84. The firm has a fifty day moving average of $77.03 and a 200-day moving average of $72.38. The stock has a market capitalization of $10.47 billion, a PE ratio of 34.00, a P/E/G ratio of 1.51 and a beta of 1.16. The company has a quick ratio of 1.22, a current ratio of 2.03 and a debt-to-equity ratio of 0.93.

Bruker (NASDAQ:BRKR – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The medical research company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.09. Bruker had a net margin of 11.89% and a return on equity of 34.71%. The company had revenue of $685.30 million during the quarter, compared to analysts’ expectations of $639.63 million. During the same period in the previous year, the company earned $0.49 EPS. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, analysts anticipate that Bruker Co. will post 2.58 EPS for the current year.

Bruker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Thursday, June 1st will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $0.20 dividend on an annualized basis and a yield of 0.28%. Bruker’s dividend payout ratio (DPR) is 9.52%.

Wall Street Analysts Forecast Growth

BRKR has been the subject of several analyst reports. Citigroup boosted their price target on Bruker from $90.00 to $95.00 in a report on Friday, May 5th. UBS Group boosted their price target on Bruker from $92.00 to $98.00 in a report on Friday, May 5th. StockNews.com initiated coverage on Bruker in a report on Thursday, May 18th. They issued a “strong-buy” rating for the company. Finally, The Goldman Sachs Group boosted their price target on Bruker from $63.00 to $70.00 and gave the company a “sell” rating in a report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $84.50.

Insider Buying and Selling

In related news, CEO Frank H. Laukien sold 82,795 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $78.75, for a total transaction of $6,520,106.25. Following the completion of the sale, the chief executive officer now directly owns 38,262,287 shares of the company’s stock, valued at approximately $3,013,155,101.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Bruker news, CEO Frank H. Laukien sold 16,435 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $79.21, for a total value of $1,301,816.35. Following the completion of the transaction, the chief executive officer now directly owns 38,352,034 shares of the company’s stock, valued at approximately $3,037,864,613.14. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Frank H. Laukien sold 82,795 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $78.75, for a total transaction of $6,520,106.25. Following the completion of the transaction, the chief executive officer now directly owns 38,262,287 shares of the company’s stock, valued at $3,013,155,101.25. The disclosure for this sale can be found here. In the last three months, insiders sold 336,478 shares of company stock valued at $26,690,354. Company insiders own 27.60% of the company’s stock.

About Bruker

(Get Rating)

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) BioSpin, BSI Chemicals, Applied Markets, Life Science, In-Vitro Diagnostics, Detection (CALID), BSI Nano, and Bruker Energy and Supercon Technologies (BEST).