Wolfe Research Lowers Bruker (NASDAQ:BRKR) to Peer Perform

Bruker (NASDAQ:BRKR) was downgraded by Wolfe Research from an “outperform” rating to a “peer perform” rating in a research note issued on Monday, MarketBeat Ratings reports.

A number of other brokerages have also recently commented on BRKR. Citigroup dropped their price objective on shares of Bruker from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Jefferies Financial Group assumed coverage on Bruker in a report on Monday, June 3rd. They issued a “buy” rating and a $85.00 price target for the company. TD Cowen dropped their price objective on Bruker from $74.00 to $72.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. 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, Wells Fargo & Company assumed coverage on shares of Bruker in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $78.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $81.40.

Bruker Price Performance

NASDAQ BRKR opened at $66.76 on Monday. The stock’s fifty day moving average price is $65.29 and its 200 day moving average price is $71.48. Bruker 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 1.18, a current ratio of 1.65 and a quick ratio of 0.75. The company has a market cap of $9.70 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 2.43 and a beta of 1.18.

Bruker (NASDAQ:BRKR) last issued its quarterly earnings results on Tuesday, August 6th. The medical research company reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. Bruker had a net margin of 11.29% and a return on equity of 24.92%. The company had revenue of $800.70 million for the quarter, compared to the consensus estimate of $799.44 million. During the same quarter in the prior year, the company earned $0.50 EPS. Bruker’s quarterly revenue was up 17.4% on a year-over-year basis. As a group, equities research analysts forecast that Bruker will post 2.61 earnings per share for the current year.

Hedge Funds Weigh In On Bruker

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. TD Asset Management Inc boosted its holdings in Bruker by 7.4% in the first quarter. TD Asset Management Inc now owns 1,788,763 shares of the medical research company’s stock valued at $168,036,000 after purchasing an additional 123,984 shares in the last quarter. Congress Asset Management Co. MA boosted its holdings in Bruker by 3.5% in the first quarter. Congress Asset Management Co. MA now owns 1,414,362 shares of the medical research company’s stock valued at $132,865,000 after purchasing an additional 47,301 shares in the last quarter. Marshall Wace LLP boosted its holdings in Bruker by 127.8% in the second quarter. Marshall Wace LLP now owns 1,389,537 shares of the medical research company’s stock valued at $88,666,000 after purchasing an additional 779,549 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Bruker by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,277,273 shares of the medical research company’s stock valued at $81,508,000 after buying an additional 101,539 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Bruker by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 966,069 shares of the medical research company’s stock valued at $61,645,000 after buying an additional 27,870 shares during the last quarter. 79.52% of the stock is owned by institutional investors and hedge funds.

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.