Bruker Co. (NASDAQ:BRKR) Shares Purchased by Van ECK Associates Corp

Posted by Defense World Staff on Aug 3rd, 2023

Van ECK Associates Corp increased its position in shares of Bruker Co. (NASDAQ:BRKR – Free Report) by 701.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,445 shares of the medical research company’s stock after acquiring an additional 22,269 shares during the quarter. Van ECK Associates Corp’s holdings in Bruker were worth $2,006,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Bruker during the 4th quarter valued at $76,958,000. Vanguard Group Inc. raised its position in shares of Bruker by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 11,253,314 shares of the medical research company’s stock valued at $723,588,000 after acquiring an additional 487,688 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Bruker during the 1st quarter worth approximately $23,145,000. BlackRock Inc. raised its holdings in Bruker by 2.7% during the 1st quarter. BlackRock Inc. now owns 11,135,940 shares of the medical research company’s stock worth $716,042,000 after buying an additional 291,386 shares during the period. Finally, Fuller & Thaler Asset Management Inc. raised its holdings in shares of Bruker by 11.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,167,283 shares of the medical research company’s stock valued at $148,134,000 after purchasing an additional 218,864 shares during the last quarter. 69.63% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Bruker

In other Bruker news, CFO Gerald N. Herman sold 14,242 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $75.42, for a total transaction of $1,074,131.64. Following the completion of the transaction, the chief financial officer now owns 36,462 shares in the company, valued at approximately $2,749,964.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Frank H. Laukien sold 89,018 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $77.05, for a total value of $6,858,836.90. Following the completion of the sale, the chief executive officer now directly owns 38,210,993 shares in the company, valued at $2,944,157,010.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gerald N. Herman sold 14,242 shares of the company’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $75.42, for a total value of $1,074,131.64. Following the transaction, the chief financial officer now owns 36,462 shares in the company, valued at $2,749,964.04. The disclosure for this sale can be found here. Corporate insiders own 28.20% of the company’s stock.

Bruker Stock Up 1.1 %

BRKR stock opened at $70.95 on Thursday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.22 and a current ratio of 2.03. The company has a market capitalization of $10.41 billion, a price-to-earnings ratio of 33.79, a PEG ratio of 1.46 and a beta of 1.13. Bruker Co. has a fifty-two week low of $48.42 and a fifty-two week high of $84.84. The stock has a fifty day moving average of $73.14 and a 200-day moving average of $74.32.

Bruker (NASDAQ:BRKR – Get Free Report) last announced its quarterly earnings results on Thursday, May 4th. The medical research company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.09. Bruker had a return on equity of 34.71% and a net margin of 11.89%. The business had revenue of $685.30 million for the quarter, compared to analysts’ expectations of $639.63 million. During the same period in the previous year, the firm earned $0.49 EPS. The business’s quarterly revenue was up 15.2% on a year-over-year basis. As a group, equities research analysts predict that Bruker Co. will post 2.58 earnings per share for the current year.

Bruker Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Thursday, June 1st were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Wednesday, May 31st. Bruker’s dividend payout ratio is 9.52%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of Bruker from $63.00 to $70.00 and gave the stock a “sell” rating in a research report on Wednesday, April 19th. Citigroup boosted their target price on Bruker from $90.00 to $95.00 in a research note on Friday, May 5th. StockNews.com raised Bruker from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 14th. Finally, UBS Group boosted their price target on Bruker from $92.00 to $98.00 in a report on Friday, May 5th. One research 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.50.

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About Bruker

(Free Report)

Bruker Corporation, together with its subsidiaries, develops, manufactures, and distributes scientific instruments, and analytical and diagnostic solutions in the United States and internationally. The company operates through four segments: Bruker Scientific Instruments (BSI) BioSpin, BSI CALID, BSI NANO, and Bruker Energy & Supercon Technologies.