Corebridge Financial Inc. Has $7.39 Million Stock Position in Bruker Co. (NASDAQ:BRKR)

Corebridge Financial Inc. reduced its stake in Bruker Co. (NASDAQ:BRKR) by 4.2% during the 4th quarter, Holdings Channel reports. The firm owned 126,007 shares of the medical research company’s stock after selling 5,488 shares during the period. Corebridge Financial Inc.’s holdings in Bruker were worth $7,387,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its holdings in Bruker by 11.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 899,638 shares of the medical research company’s stock worth $62,129,000 after buying an additional 94,612 shares during the last quarter. Cerity Partners LLC boosted its stake in Bruker by 446.8% during the 3rd quarter. Cerity Partners LLC now owns 27,998 shares of the medical research company’s stock worth $1,934,000 after acquiring an additional 22,878 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in Bruker during the 3rd quarter worth approximately $435,000. Bank of Montreal Can grew its holdings in Bruker by 31.2% during the third quarter. Bank of Montreal Can now owns 61,138 shares of the medical research company’s stock valued at $4,321,000 after purchasing an additional 14,547 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Bruker by 3.8% in the third quarter. The Manufacturers Life Insurance Company now owns 115,616 shares of the medical research company’s stock valued at $7,984,000 after purchasing an additional 4,247 shares in the last quarter. 79.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BRKR has been the subject of several research analyst reports. Stifel Nicolaus decreased their price target on shares of Bruker from $70.00 to $57.00 and set a “hold” rating for the company in a report on Friday, February 14th. Bank of America boosted their target price on Bruker from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Guggenheim reaffirmed a “buy” rating on shares of Bruker in a research report on Monday, February 24th. The Goldman Sachs Group upgraded Bruker from a “sell” rating to a “neutral” rating and set a $60.00 price objective on the stock in a report on Thursday, December 5th. Finally, Barclays dropped their target price on shares of Bruker from $69.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.50.

Bruker Stock Down 3.2 %

Bruker stock opened at $42.08 on Friday. The company has a fifty day simple moving average of $50.54 and a 200 day simple moving average of $57.01. The company has a current ratio of 1.60, a quick ratio of 0.77 and a debt-to-equity ratio of 1.15. Bruker Co. has a 1-year low of $41.80 and a 1-year high of $94.35. The company has a market cap of $6.38 billion, a P/E ratio of 55.37, a price-to-earnings-growth ratio of 2.16 and a beta of 1.18.

Bruker (NASDAQ:BRKR) last announced its quarterly earnings data on Thursday, February 13th. The medical research company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.01. Bruker had a return on equity of 21.01% and a net margin of 3.36%. Research analysts anticipate that Bruker Co. will post 2.69 earnings per share for the current fiscal year.

Bruker Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 17th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, March 17th. Bruker’s payout ratio is presently 26.32%.

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.