Kornitzer Capital Management Inc. KS Invests $5.73 Million in Bruker Co. (NASDAQ:BRKR)

Kornitzer Capital Management Inc. KS bought a new position in shares of Bruker Co. (NASDAQ:BRKR) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 83,000 shares of the medical research company’s stock, valued at approximately $5,732,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. increased its position in Bruker by 120.4% during the second quarter. First Horizon Advisors Inc. now owns 399 shares of the medical research company’s stock worth $25,000 after buying an additional 218 shares during the period. Covestor Ltd increased its position in Bruker by 139.1% during the first quarter. Covestor Ltd now owns 361 shares of the medical research company’s stock worth $34,000 after buying an additional 210 shares during the period. UMB Bank n.a. increased its position in Bruker by 115.3% during the third quarter. UMB Bank n.a. now owns 661 shares of the medical research company’s stock worth $46,000 after buying an additional 354 shares during the period. Gordian Capital Singapore Pte Ltd acquired a new position in Bruker during the second quarter worth approximately $52,000. Finally, GAMMA Investing LLC increased its position in Bruker by 81.0% during the third quarter. GAMMA Investing LLC now owns 867 shares of the medical research company’s stock worth $60,000 after buying an additional 388 shares during the period. Institutional investors and hedge funds own 79.52% of the company’s stock.

Analyst Ratings Changes

BRKR has been the topic of several research analyst reports. TD Cowen cut their price target on Bruker from $72.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday. Wolfe Research downgraded Bruker from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 30th. Barclays lowered their target price on Bruker from $75.00 to $69.00 and set an “overweight” rating on the stock in a research note on Wednesday. Wells Fargo & Company lowered their target price on Bruker from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Citigroup lowered their target price on Bruker from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $79.36.

Bruker Stock Up 2.6 %

BRKR opened at $60.49 on Friday. The business’s fifty day moving average is $63.83 and its two-hundred day moving average is $66.47. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 1.65. The company has a market cap of $9.16 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 2.32 and a beta of 1.20. Bruker Co. has a one year low of $54.55 and a one year high of $94.86.

Bruker (NASDAQ:BRKR) last released its quarterly earnings results on Tuesday, November 5th. The medical research company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). Bruker had a return on equity of 24.92% and a net margin of 11.29%. The company had revenue of $864.40 million during the quarter, compared to analyst estimates of $866.46 million. During the same period last year, the firm earned $0.74 earnings per share. The business’s revenue was up 16.4% compared to the same quarter last year. Analysts anticipate that Bruker Co. will post 2.61 EPS for the current fiscal year.

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.