Barclays Cuts Bruker (NASDAQ:BRKR) Price Target to $69.00

Bruker (NASDAQ:BRKR) had its price objective lowered by Barclays from $75.00 to $69.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the medical research company’s stock.

Several other equities research analysts have also weighed in on the stock. The Goldman Sachs Group cut their target price on shares of Bruker from $72.00 to $60.00 and set a “sell” rating on the stock in a report on Tuesday, July 9th. Wells Fargo & Company assumed coverage on shares of Bruker in a report on Tuesday, August 27th. They issued an “overweight” rating and a $78.00 target price on the stock. Citigroup cut their target price on shares of Bruker from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. TD Cowen cut their target price on shares of Bruker from $74.00 to $72.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Finally, Wolfe Research lowered shares of Bruker from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bruker has a consensus rating of “Moderate Buy” and a consensus price target of $79.36.

Bruker Trading Down 4.6 %

BRKR stock traded down $2.76 during midday trading on Wednesday, reaching $57.73. The company’s stock had a trading volume of 1,077,386 shares, compared to its average volume of 1,072,928. Bruker has a 52 week low of $54.55 and a 52 week high of $94.86. The stock has a market cap of $8.74 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. 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 business’s 50-day simple moving average is $63.64 and its 200-day simple moving average is $66.32.

Bruker (NASDAQ:BRKR) last announced its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). Bruker had a net margin of 11.29% and a return on equity of 24.92%. The business had revenue of $864.40 million during the quarter, compared to the consensus estimate of $866.46 million. During the same period in the previous year, the business posted $0.74 earnings per share. Bruker’s revenue was up 16.4% compared to the same quarter last year. As a group, sell-side analysts expect that Bruker will post 2.61 EPS for the current year.

Institutional Investors Weigh In On Bruker

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd increased its stake in Bruker by 139.1% in the 1st quarter. Covestor Ltd now owns 361 shares of the medical research company’s stock valued at $34,000 after buying an additional 210 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of Bruker by 120.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 399 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 218 shares during the period. UMB Bank n.a. grew its position in shares of Bruker by 115.3% in the 3rd quarter. UMB Bank n.a. now owns 661 shares of the medical research company’s stock valued at $46,000 after acquiring an additional 354 shares during the period. Gordian Capital Singapore Pte Ltd bought a new position in shares of Bruker in the 2nd quarter valued at about $52,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Bruker by 40.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 858 shares of the medical research company’s stock valued at $81,000 after acquiring an additional 248 shares during the period. 79.52% of the stock is currently owned by institutional investors and hedge funds.

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.