Bruker (NASDAQ:BRKR) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Bruker (NASDAQ:BRKR) announced its quarterly earnings data on Tuesday. The medical research company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01), Briefing.com reports. The company had revenue of $864.40 million for the quarter, compared to analysts’ expectations of $866.46 million. Bruker had a net margin of 11.29% and a return on equity of 24.92%. Bruker’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the firm earned $0.74 earnings per share. Bruker updated its FY 2024 guidance to 2.360-2.410 EPS and its FY24 guidance to $2.36-2.41 EPS.

Bruker Price Performance

Shares of NASDAQ:BRKR traded down $2.20 during trading on Friday, reaching $58.29. 451,299 shares of the company’s stock traded hands, compared to its average volume of 1,069,918. The firm has a market cap of $8.82 billion, a PE ratio of 25.10, a P/E/G ratio of 2.32 and a beta of 1.20. Bruker has a fifty-two week low of $54.55 and a fifty-two week high of $94.86. The company has a quick ratio of 0.75, a current ratio of 1.65 and a debt-to-equity ratio of 1.18. The company has a 50-day simple moving average of $63.83 and a 200-day simple moving average of $66.47.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wells Fargo & Company dropped their price target on Bruker from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday. TD Cowen dropped their target price on Bruker from $72.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday. Wolfe Research lowered shares of Bruker from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. Barclays dropped their price objective on shares of Bruker from $75.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Citigroup decreased their target price on shares of Bruker from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bruker presently has a consensus rating of “Moderate Buy” and an average price target of $79.36.

About Bruker

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.