State of Michigan Retirement System Buys 500 Shares of Bruker Co. (NASDAQ:BRKR)

State of Michigan Retirement System boosted its stake in shares of Bruker Co. (NASDAQ:BRKR) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,793 shares of the medical research company’s stock after purchasing an additional 500 shares during the quarter. State of Michigan Retirement System’s holdings in Bruker were worth $2,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BRKR. Lindbrook Capital LLC increased its position in shares of Bruker by 68.2% during the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the medical research company’s stock worth $26,000 after purchasing an additional 146 shares in the last quarter. Rise Advisors LLC purchased a new stake in Bruker in the first quarter valued at about $27,000. Neo Ivy Capital Management acquired a new stake in Bruker in the fourth quarter worth about $30,000. VisionPoint Advisory Group LLC grew its stake in shares of Bruker by 145.0% during the third quarter. VisionPoint Advisory Group LLC now owns 512 shares of the medical research company’s stock worth $32,000 after acquiring an additional 303 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new position in shares of Bruker during the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 79.52% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on BRKR. Bank of America cut their target price on Bruker from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Stifel Nicolaus cut their price objective on Bruker from $81.00 to $77.00 and set a “hold” rating on the stock in a report on Monday, May 20th. Jefferies Financial Group began coverage on Bruker in a report on Monday, June 3rd. They set a “buy” rating and a $85.00 target price for the company. StockNews.com lowered Bruker from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, The Goldman Sachs Group raised their price target on shares of Bruker from $66.00 to $74.00 and gave the stock a “sell” rating in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Bruker has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Bruker Stock Performance

Shares of NASDAQ BRKR opened at $61.83 on Friday. Bruker Co. has a 1 year low of $53.79 and a 1 year high of $94.86. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.91 and a current ratio of 1.81. The company has a market capitalization of $8.99 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 2.08 and a beta of 1.20. The company’s fifty day moving average price is $70.02 and its 200 day moving average price is $77.08.

Bruker (NASDAQ:BRKR) last posted its quarterly earnings data on Thursday, May 2nd. The medical research company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.07. Bruker had a net margin of 13.38% and a return on equity of 27.31%. The business had revenue of $721.70 million for the quarter, compared to the consensus estimate of $729.88 million. During the same period last year, the firm posted $0.64 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year. On average, research analysts predict that Bruker Co. will post 2.66 earnings per share for the current year.

Bruker Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Monday, June 3rd. Bruker’s payout ratio is 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.