Envestnet Asset Management Inc. Purchases 98,427 Shares of Bruker Co. (NASDAQ:BRKR)

Envestnet Asset Management Inc. boosted its position in Bruker Co. (NASDAQ:BRKR) by 48.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,251 shares of the medical research company’s stock after purchasing an additional 98,427 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Bruker were worth $19,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. TD Asset Management Inc raised its position in shares of Bruker by 7.4% in the first quarter. TD Asset Management Inc now owns 1,788,763 shares of the medical research company’s stock worth $168,036,000 after buying an additional 123,984 shares in the last quarter. Congress Asset Management Co. MA boosted its position in shares of Bruker by 3.5% during the 1st quarter. Congress Asset Management Co. MA now owns 1,414,362 shares of the medical research company’s stock valued at $132,865,000 after acquiring an additional 47,301 shares during the last quarter. Norges Bank purchased a new position in shares of Bruker during the fourth quarter worth about $74,582,000. Bank of New York Mellon Corp increased its position in shares of Bruker by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 966,069 shares of the medical research company’s stock worth $61,645,000 after purchasing an additional 27,870 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in Bruker by 3.5% in the first quarter. Janus Henderson Group PLC now owns 869,205 shares of the medical research company’s stock valued at $81,648,000 after purchasing an additional 29,566 shares in the last quarter. 79.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BRKR shares. The Goldman Sachs Group decreased their price target on shares of Bruker from $72.00 to $60.00 and set a “sell” rating on the stock in a report on Tuesday, July 9th. Jefferies Financial Group started coverage on Bruker in a research report on Monday, June 3rd. They set a “buy” rating and a $85.00 price target on the stock. Wells Fargo & Company assumed coverage on Bruker in a report on Tuesday, August 27th. They issued an “overweight” rating and a $78.00 price objective for the company. Citigroup decreased their price objective on Bruker from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Finally, TD Cowen cut their target price on Bruker from $74.00 to $72.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.40.

Bruker Trading Down 0.6 %

Shares of BRKR stock opened at $67.16 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.65 and a quick ratio of 0.75. The business has a 50-day moving average of $64.64 and a 200 day moving average of $72.46. The stock has a market capitalization of $9.76 billion, a PE ratio of 24.42, a P/E/G ratio of 2.31 and a beta of 1.18. Bruker Co. has a 1-year low of $53.79 and a 1-year high of $94.86.

Bruker (NASDAQ:BRKR) last issued its earnings results on Tuesday, August 6th. The medical research company reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. The firm had revenue of $800.70 million for the quarter, compared to analysts’ expectations of $799.44 million. Bruker had a net margin of 11.29% and a return on equity of 24.92%. The business’s revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the business earned $0.50 earnings per share. As a group, sell-side analysts anticipate that Bruker Co. will post 2.61 earnings per share for the current year.

Bruker Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.30%. Bruker’s dividend payout ratio is currently 7.27%.

Bruker Profile

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