2,804 Shares in Bruker Co. (NASDAQ:BRKR) Acquired by Covenant Partners LLC

Covenant Partners LLC purchased a new position in Bruker Co. (NASDAQ:BRKR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,804 shares of the medical research company’s stock, valued at approximately $206,000.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Bruker in the fourth quarter worth about $74,582,000. TD Asset Management Inc lifted its position in shares of Bruker by 51.1% in the 4th quarter. TD Asset Management Inc now owns 1,664,779 shares of the medical research company’s stock valued at $122,328,000 after acquiring an additional 562,684 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Bruker by 95.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 928,418 shares of the medical research company’s stock worth $57,840,000 after purchasing an additional 452,780 shares during the period. RTW Investments LP grew its position in Bruker by 14.3% during the 3rd quarter. RTW Investments LP now owns 3,381,703 shares of the medical research company’s stock worth $210,680,000 after purchasing an additional 422,100 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in Bruker by 2,342.1% during the 4th quarter. Handelsbanken Fonder AB now owns 388,300 shares of the medical research company’s stock valued at $28,532,000 after purchasing an additional 372,400 shares during the period. Institutional investors own 79.52% of the company’s stock.

Analyst Ratings Changes

BRKR has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their price target 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 assumed coverage on Bruker in a research note on Monday, June 3rd. They set a “buy” rating and a $85.00 target price on the stock. The Goldman Sachs Group upped their target price on Bruker from $66.00 to $74.00 and gave the company a “sell” rating in a report on Wednesday, April 10th. Bank of America decreased their price target on shares of Bruker from $95.00 to $90.00 and set a “buy” rating for the company in a report on Monday, May 20th. Finally, StockNews.com lowered shares of Bruker from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Bruker Stock Down 0.9 %

NASDAQ:BRKR traded down $0.56 during mid-day trading on Friday, reaching $64.53. The stock had a trading volume of 771,893 shares, compared to its average volume of 1,003,506. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.81 and a quick ratio of 0.91. The stock has a market cap of $9.38 billion, a P/E ratio of 23.47, a PEG ratio of 2.49 and a beta of 1.25. The business’s 50 day moving average is $76.07 and its 200 day moving average is $77.45. Bruker Co. has a fifty-two week low of $53.79 and a fifty-two week high of $94.86.

Bruker (NASDAQ:BRKR) last announced its quarterly earnings results on Thursday, May 2nd. The medical research company reported $0.53 EPS for the quarter, topping 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 company had revenue of $721.70 million for the quarter, compared to analyst estimates of $729.88 million. During the same quarter in the prior year, the business posted $0.64 EPS. Bruker’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts predict that Bruker Co. will post 2.66 earnings per share for the current year.

Bruker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Monday, June 3rd. Bruker’s dividend payout ratio is 7.27%.

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.