Point72 Asset Management L.P. Sells 410,449 Shares of Bruker Co. (NASDAQ:BRKR)

Point72 Asset Management L.P. decreased its holdings in Bruker Co. (NASDAQ:BRKR) by 69.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 176,799 shares of the medical research company’s stock after selling 410,449 shares during the quarter. Point72 Asset Management L.P. owned 0.11% of Bruker worth $8,831,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in shares of Bruker by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,013,763 shares of the medical research company’s stock worth $30,178,000 after purchasing an additional 46,244 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Bruker in the first quarter worth $2,873,000. CIBC Asset Management Inc bought a new stake in Bruker in the first quarter worth $214,000. New York State Common Retirement Fund lifted its stake in Bruker by 0.3% in the first quarter. New York State Common Retirement Fund now owns 444,726 shares of the medical research company’s stock worth $17,095,000 after purchasing an additional 1,195 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in shares of Bruker by 14.0% during the first quarter. Great West Life Assurance Co. Can now owns 14,288 shares of the medical research company’s stock valued at $547,000 after acquiring an additional 1,751 shares during the last quarter. 66.59% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on the stock. Barclays reiterated a “hold” rating and set a $44.00 price target on shares of Bruker in a research report on Monday, June 24th. Needham & Company LLC set a $57.00 target price on shares of Bruker and gave the stock a “strong-buy” rating in a research note on Monday, June 24th. Wolfe Research started coverage on shares of Bruker in a research report on Thursday, May 30th. They issued a “peer perform” rating on the stock. Goldman Sachs Group upgraded shares of Bruker from a “sell” rating to a “neutral” rating and increased their price target for the stock from $32.00 to $48.00 in a research report on Monday, July 15th. Finally, Jefferies Financial Group increased their price objective on shares of Bruker from $45.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $49.80.



In other news, CEO Burkhard Prause sold 15,702 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $42.96, for a total transaction of $674,557.92. Following the sale, the chief executive officer now owns 1,338 shares of the company’s stock, valued at $57,480.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark Munch sold 47,203 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $42.87, for a total transaction of $2,023,592.61. Following the sale, the vice president now directly owns 96,063 shares in the company, valued at approximately $4,118,220.81. The disclosure for this sale can be found here. Corporate insiders own 26.50% of the company’s stock.

NASDAQ BRKR traded down $0.52 on Tuesday, hitting $42.40. 23,215 shares of the company’s stock traded hands, compared to its average volume of 591,162. The company has a current ratio of 2.19, a quick ratio of 1.27 and a debt-to-equity ratio of 0.63. Bruker Co. has a 1-year low of $26.10 and a 1-year high of $51.41. The firm’s 50-day moving average price is $42.23 and its two-hundred day moving average price is $42.85. The firm has a market capitalization of $6.73 billion, a PE ratio of 30.35, a P/E/G ratio of 2.17 and a beta of 1.41.

Bruker (NASDAQ:BRKR) last posted its earnings results on Thursday, August 1st. The medical research company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. The firm had revenue of $490.20 million during the quarter, compared to analysts’ expectations of $477.70 million. Bruker had a net margin of 9.57% and a return on equity of 27.10%. The business’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 EPS. On average, research analysts anticipate that Bruker Co. will post 1.61 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, September 3rd were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date was Friday, August 30th. Bruker’s dividend payout ratio is currently 11.43%.

Bruker Profile

Bruker Corporation manufactures and distributes scientific instruments, and analytical and diagnostic solutions in the United States, Europe, the Asia Pacific, and internationally. The company operates in two segments, Bruker Scientific Instruments, and Bruker Energy & Supercon Technologies. It offers life science tools based on magnetic resonance technology; life science mass spectrometry and ion mobility spectrometry solutions; infrared spectroscopy and radiological/nuclear detectors for chemical, biological, radiological, nuclear, and explosive detection in emergency response, homeland security, and defense applications; and research, analytical, and process analysis instruments and solutions based on infrared and Raman molecular spectroscopy technologies.

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Institutional Ownership by Quarter for Bruker (NASDAQ:BRKR)

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