Congress Wealth Management LLC DE Purchases 29,029 Shares of Bruker Co. (NASDAQ:BRKR)

Congress Wealth Management LLC DE increased its position in Bruker Co. (NASDAQ:BRKR) by 21.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 162,191 shares of the medical research company’s stock after purchasing an additional 29,029 shares during the quarter. Congress Wealth Management LLC DE owned approximately 0.12% of Bruker worth $15,236,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Rise Advisors LLC bought a new position in Bruker in the 1st quarter valued at about $27,000. Lindbrook Capital LLC raised its holdings in Bruker by 68.2% in the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 146 shares during the period. Neo Ivy Capital Management bought a new position in Bruker in the 4th quarter valued at about $30,000. GAMMA Investing LLC bought a new position in Bruker in the 4th quarter valued at about $33,000. Finally, VisionPoint Advisory Group LLC raised its holdings in Bruker by 145.0% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 512 shares of the medical research company’s stock valued at $32,000 after acquiring an additional 303 shares during the period. 79.52% of the stock is owned by institutional investors.

Bruker Stock Performance

NASDAQ BRKR opened at $62.33 on Tuesday. The company has a current ratio of 1.81, a quick ratio of 0.91 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $9.06 billion, a price-to-earnings ratio of 22.67, a P/E/G ratio of 2.16 and a beta of 1.20. The firm’s 50 day simple moving average is $71.22 and its 200 day simple moving average is $77.38. Bruker Co. has a 1 year low of $53.79 and a 1 year high of $94.86.

Bruker (NASDAQ:BRKR) last posted its quarterly earnings results on Thursday, May 2nd. The medical research company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.07. The business had revenue of $721.70 million for the quarter, compared to analyst estimates of $729.88 million. Bruker had a net margin of 13.38% and a return on equity of 27.31%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. As a group, research analysts expect that Bruker Co. will post 2.66 earnings per share for the current fiscal year.

Bruker Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.20 dividend on an annualized basis and a yield of 0.32%. Bruker’s dividend payout ratio is currently 7.27%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BRKR shares. The Goldman Sachs Group raised their target price on shares of Bruker from $66.00 to $74.00 and gave the stock a “sell” rating in a report on Wednesday, April 10th. Jefferies Financial Group started coverage on shares of Bruker in a report on Monday, June 3rd. They set a “buy” rating and a $85.00 target price on the stock. Bank of America lowered their target price on shares of Bruker from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, May 20th. Stifel Nicolaus lowered their target price on shares of Bruker from $81.00 to $77.00 and set a “hold” rating on the stock in a report on Monday, May 20th. Finally, StockNews.com cut shares of Bruker from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.00.

Bruker 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.