Bruker Co. (NASDAQ:BRKR) Shares Purchased by EDENTREE ASSET MANAGEMENT Ltd

EDENTREE ASSET MANAGEMENT Ltd boosted its holdings in shares of Bruker Co. (NASDAQ:BRKR) by 35.6% in the second quarter, HoldingsChannel reports. The firm owned 137,300 shares of the medical research company’s stock after buying an additional 36,033 shares during the period. Bruker accounts for about 2.8% of EDENTREE ASSET MANAGEMENT Ltd’s holdings, making the stock its 11th biggest holding. EDENTREE ASSET MANAGEMENT Ltd’s holdings in Bruker were worth $8,754,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. boosted its stake in shares of Bruker by 120.4% in the second quarter. First Horizon Advisors Inc. now owns 399 shares of the medical research company’s stock worth $25,000 after buying an additional 218 shares during the last quarter. Rise Advisors LLC acquired a new stake in shares of Bruker during the 1st quarter worth approximately $27,000. Neo Ivy Capital Management purchased a new position in shares of Bruker during the 4th quarter valued at approximately $30,000. Covestor Ltd lifted its stake in shares of Bruker by 139.1% in the 1st quarter. Covestor Ltd now owns 361 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 210 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in Bruker by 20.0% during the second quarter. Nisa Investment Advisors LLC now owns 991 shares of the medical research company’s stock worth $63,000 after buying an additional 165 shares in the last quarter. 79.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BRKR has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on shares of Bruker in a report on Monday, June 3rd. They issued a “buy” rating and a $85.00 price objective for the company. Wells Fargo & Company assumed coverage on Bruker in a report on Tuesday, August 27th. They issued an “overweight” rating and a $78.00 price target for the company. Citigroup dropped 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. The Goldman Sachs Group reduced their target price on Bruker from $72.00 to $60.00 and set a “sell” rating for the company in a research note on Tuesday, July 9th. Finally, TD Cowen cut their price target on shares of Bruker from $74.00 to $72.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Bruker currently has an average rating of “Moderate Buy” and an average price target of $81.40.

Bruker Price Performance

Bruker stock opened at $67.25 on Thursday. The company has a fifty day simple moving average of $64.74 and a 200-day simple moving average of $72.26. The firm has a market capitalization of $10.18 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 2.43 and a beta of 1.18. The company has a quick ratio of 0.75, a current ratio of 1.65 and a debt-to-equity ratio of 1.18. Bruker Co. has a 52-week low of $53.79 and a 52-week high of $94.86.

Bruker (NASDAQ:BRKR) last announced its quarterly earnings data on Tuesday, August 6th. The medical research company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. The company had revenue of $800.70 million during 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%. Bruker’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 EPS. On average, equities analysts anticipate that Bruker Co. will post 2.61 EPS for the current fiscal year.

Bruker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend was Friday, August 30th. Bruker’s dividend payout ratio (DPR) 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.