Victory Capital Management Inc. Invests $2.87 Million in Bruker Co. (BRKR)

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Victory Capital Management Inc. purchased a new stake in shares of Bruker Co. (NASDAQ:BRKR) during the 1st quarter, Holdings Channel reports. The fund purchased 74,736 shares of the medical research company’s stock, valued at approximately $2,873,000.

Several other institutional investors also recently made changes to their positions in BRKR. Norges Bank bought a new stake in shares of Bruker during the 4th quarter valued at approximately $49,346,000. First Trust Advisors LP grew its holdings in Bruker by 3,479.9% during the 4th quarter. First Trust Advisors LP now owns 663,285 shares of the medical research company’s stock worth $19,746,000 after acquiring an additional 644,757 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Bruker by 1,923.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 406,482 shares of the medical research company’s stock worth $12,101,000 after acquiring an additional 386,390 shares during the last quarter. Bank of America Corp DE grew its holdings in Bruker by 36.7% during the 4th quarter. Bank of America Corp DE now owns 1,352,697 shares of the medical research company’s stock worth $40,270,000 after acquiring an additional 363,249 shares during the last quarter. Finally, Morgan Stanley grew its holdings in Bruker by 686.7% during the 3rd quarter. Morgan Stanley now owns 411,277 shares of the medical research company’s stock worth $13,758,000 after acquiring an additional 358,995 shares during the last quarter. 66.74% of the stock is currently owned by institutional investors.

A number of equities research analysts have weighed in on the stock. BidaskClub raised shares of Bruker from a “buy” rating to a “strong-buy” rating in a report on Friday, March 22nd. Zacks Investment Research lowered shares of Bruker from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Svb Leerink raised shares of Bruker from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $40.00 to $53.00 in a report on Friday, May 3rd. Leerink Swann raised shares of Bruker from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Finally, UBS Group raised shares of Bruker from a “sell” rating to a “neutral” rating and set a $43.00 target price on the stock in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $43.71.

In other news, Director Marc A. Kastner sold 1,374 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $41.79, for a total value of $57,419.46. Following the transaction, the director now owns 10,811 shares in the company, valued at approximately $451,791.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.50% of the stock is currently owned by insiders.

BRKR traded up $0.22 during trading on Monday, reaching $42.31. 670,060 shares of the company’s stock were exchanged, compared to its average volume of 818,098. Bruker Co. has a one year low of $26.10 and a one year high of $44.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.12 and a quick ratio of 1.27. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 2.25 and a beta of 1.44.

Bruker (NASDAQ:BRKR) last posted its earnings results on Thursday, May 2nd. The medical research company reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.04. The firm had revenue of $461.40 million for the quarter, compared to analyst estimates of $450.46 million. Bruker had a net margin of 9.53% and a return on equity of 26.28%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 EPS. As a group, equities research analysts predict that Bruker Co. will post 1.61 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Monday, June 3rd will be given a $0.04 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.38%. Bruker’s dividend payout ratio (DPR) is currently 11.43%.

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Bruker Company Profile

Bruker Corporation manufactures and distributes scientific instruments, and analytical and diagnostic solutions in the United States, Europe, the Asia Pacific, and internationally. The company operates in two segments, Bruker Scientific Instruments, and Bruker Energy & Supercon Technologies. It offers life science tools based on magnetic resonance technology; life science mass spectrometry and ion mobility spectrometry solutions; infrared spectroscopy and radiological/nuclear detectors for chemical, biological, radiological, nuclear, and explosive detection in emergency response, homeland security, and defense applications; and research, analytical, and process analysis instruments and solutions based on infrared and Raman molecular spectroscopy technologies.

Further Reading: Cost of Goods Sold (COGS)

Want to see what other hedge funds are holding BRKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bruker Co. (NASDAQ:BRKR).

Institutional Ownership by Quarter for Bruker (NASDAQ:BRKR)

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