Victory Capital Management Inc. Has $2.06 Million Position in Bruker Co. (NASDAQ:BRKR)

Victory Capital Management Inc. trimmed its position in shares of Bruker Co. (NASDAQ:BRKR) by 35.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 29,780 shares of the medical research company’s stock after selling 16,267 shares during the period. Victory Capital Management Inc.’s holdings in Bruker were worth $2,057,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. First Horizon Advisors Inc. lifted its stake in shares of Bruker by 120.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 399 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 218 shares during the last quarter. UMB Bank n.a. raised its stake in Bruker by 115.3% during the 3rd quarter. UMB Bank n.a. now owns 661 shares of the medical research company’s stock worth $46,000 after buying an additional 354 shares during the period. Gordian Capital Singapore Pte Ltd bought a new stake in Bruker during the 2nd quarter worth approximately $52,000. EverSource Wealth Advisors LLC increased its stake in Bruker by 40.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 858 shares of the medical research company’s stock valued at $81,000 after buying an additional 248 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Bruker by 81.0% during the third quarter. GAMMA Investing LLC now owns 867 shares of the medical research company’s stock worth $60,000 after buying an additional 388 shares during the last quarter. Institutional investors and hedge funds own 79.52% of the company’s stock.

Bruker Price Performance

Shares of Bruker stock opened at $57.07 on Monday. Bruker Co. has a 52 week low of $48.07 and a 52 week high of $94.86. The stock’s 50-day simple moving average is $61.46 and its 200-day simple moving average is $64.54. The company has a quick ratio of 0.73, a current ratio of 1.66 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $8.65 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 2.69 and a beta of 1.20.

Bruker (NASDAQ:BRKR) last released its quarterly earnings results on Tuesday, November 5th. The medical research company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.01). Bruker had a net margin of 9.41% and a return on equity of 21.52%. The company had revenue of $864.40 million for the quarter, compared to analysts’ expectations of $866.46 million. During the same quarter in the previous year, the company posted $0.74 EPS. The business’s quarterly revenue was up 16.4% on a year-over-year basis. As a group, analysts expect that Bruker Co. will post 2.4 earnings per share for the current fiscal year.

Bruker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.20 annualized dividend and a yield of 0.35%. Bruker’s payout ratio is currently 9.62%.

Analyst Ratings Changes

BRKR has been the subject of a number of research reports. TD Cowen cut their target price on shares of Bruker from $72.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Citigroup cut their price objective on shares of Bruker from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Wells Fargo & Company lowered their target price on shares of Bruker from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Wolfe Research lowered Bruker from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Finally, Barclays decreased their price objective on Bruker from $75.00 to $69.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.36.

Insider Activity

In other Bruker news, CEO Frank H. Laukien purchased 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average price of $50.14 per share, for a total transaction of $5,014,000.00. Following the acquisition, the chief executive officer now owns 38,439,563 shares in the company, valued at $1,927,359,688.82. This represents a 0.26 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 28.30% of the company’s stock.

Bruker Company 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.