Bruker Co. (NASDAQ:BRKR) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its stake in Bruker Co. (NASDAQ:BRKR) by 32.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,360 shares of the medical research company’s stock after selling 16,929 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Bruker were worth $2,256,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BRKR. Rise Advisors LLC acquired a new stake in shares of Bruker in the 1st quarter worth approximately $27,000. Covestor Ltd raised its holdings 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 purchasing an additional 210 shares in the last quarter. First Horizon Advisors Inc. lifted its position in Bruker by 120.4% in the second quarter. First Horizon Advisors Inc. now owns 399 shares of the medical research company’s stock worth $25,000 after purchasing an additional 218 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Bruker during the 4th quarter valued at $30,000. Finally, Principal Securities Inc. bought a new stake in shares of Bruker in the 4th quarter worth $42,000. Institutional investors own 79.52% of the company’s stock.

Bruker Stock Performance

Shares of Bruker stock opened at $68.26 on Friday. The stock has a market cap of $9.92 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 2.31 and a beta of 1.18. Bruker Co. has a 12 month low of $53.79 and a 12 month 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 business has a fifty day simple moving average of $64.42 and a 200-day simple moving average of $73.07.

Bruker (NASDAQ:BRKR) last released its earnings results on Tuesday, August 6th. The medical research company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. The company had revenue of $800.70 million for the quarter, compared to analysts’ expectations of $799.44 million. Bruker had a return on equity of 24.92% and a net margin of 11.29%. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.50 EPS. On average, sell-side analysts anticipate that Bruker Co. will post 2.61 EPS for the current fiscal year.

Bruker Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend was Friday, August 30th. Bruker’s dividend payout ratio (DPR) is currently 7.27%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BRKR. Citigroup decreased their target price on Bruker from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Jefferies Financial Group assumed coverage on shares of Bruker in a research report on Monday, June 3rd. They set a “buy” rating and a $85.00 price objective for the company. Wells Fargo & Company initiated 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. TD Cowen reduced their target price on shares of Bruker from $74.00 to $72.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group dropped their price target on Bruker from $72.00 to $60.00 and set a “sell” rating on the stock in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.40.

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.