AQR Capital Management LLC Purchases 307,021 Shares of Bruker Co. (NASDAQ:BRKR)

AQR Capital Management LLC boosted its position in Bruker Co. (NASDAQ:BRKR) by 123.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 555,468 shares of the medical research company’s stock after purchasing an additional 307,021 shares during the quarter. AQR Capital Management LLC’s holdings in Bruker were worth $35,444,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lifestyle Asset Management Inc. lifted its holdings in shares of Bruker by 1.3% during the first quarter. Lifestyle Asset Management Inc. now owns 12,534 shares of the medical research company’s stock worth $1,177,000 after buying an additional 158 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Bruker by 20.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 991 shares of the medical research company’s stock worth $63,000 after purchasing an additional 165 shares in the last quarter. Securian Asset Management Inc. boosted its holdings in Bruker by 2.3% in the 2nd quarter. Securian Asset Management Inc. now owns 7,766 shares of the medical research company’s stock valued at $496,000 after purchasing an additional 175 shares during the period. Park Place Capital Corp grew its position in shares of Bruker by 19.4% during the 1st quarter. Park Place Capital Corp now owns 1,139 shares of the medical research company’s stock worth $107,000 after purchasing an additional 185 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Bruker by 24.7% during the fourth quarter. Assetmark Inc. now owns 1,005 shares of the medical research company’s stock worth $74,000 after purchasing an additional 199 shares during the period. 79.52% of the stock is owned by institutional investors and hedge funds.

Bruker Stock Up 0.3 %

BRKR stock opened at $70.67 on Friday. The firm has a 50-day moving average price of $65.08 and a 200-day moving average price of $71.96. Bruker Co. has a 12 month low of $53.79 and a 12 month high of $94.86. The company has a current ratio of 1.65, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $10.27 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 2.43 and a beta of 1.18.

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

Bruker Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Friday, August 30th. Bruker’s dividend payout ratio is currently 7.27%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. TD Cowen cut their price target on Bruker from $74.00 to $72.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Citigroup cut their target price on Bruker from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Wells Fargo & Company began coverage on Bruker in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $78.00 price target on the stock. Jefferies Financial Group initiated 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. Finally, The Goldman Sachs Group decreased 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.40.

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.