State of New Jersey Common Pension Fund D Increases Stock Position in Bruker Co. (NASDAQ:BRKR)

State of New Jersey Common Pension Fund D grew its position in shares of Bruker Co. (NASDAQ:BRKR) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,627 shares of the medical research company’s stock after purchasing an additional 1,267 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Bruker were worth $2,529,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. First Horizon Advisors Inc. grew its stake in Bruker by 120.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 399 shares of the medical research company’s stock worth $25,000 after buying an additional 218 shares during the last quarter. Covestor Ltd increased its holdings in shares of 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 acquiring an additional 210 shares during the period. UMB Bank n.a. raised its position in 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 purchasing an additional 354 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in Bruker during the 2nd quarter worth $52,000. Finally, GAMMA Investing LLC grew its position in Bruker by 81.0% during the 3rd quarter. GAMMA Investing LLC now owns 867 shares of the medical research company’s stock worth $60,000 after purchasing an additional 388 shares during the last quarter. 79.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BRKR has been the subject of a number of research reports. Citigroup reduced their target price on shares of Bruker from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. TD Cowen decreased their price objective on Bruker from $72.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Wolfe Research lowered Bruker from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Wells Fargo & Company cut their price target on Bruker from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Finally, Barclays lowered their price objective on shares of Bruker from $75.00 to $69.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $79.36.

Bruker Trading Down 0.2 %

Shares of BRKR opened at $55.92 on Thursday. Bruker Co. has a twelve month low of $54.55 and a twelve month high of $94.86. The company has a current ratio of 1.66, a quick ratio of 0.73 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $8.48 billion, a P/E ratio of 26.88, a PEG ratio of 2.68 and a beta of 1.20. The firm’s 50-day moving average is $63.07 and its two-hundred day moving average is $65.69.

Bruker (NASDAQ:BRKR) last released its quarterly earnings results on Tuesday, November 5th. The medical research company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). The firm had revenue of $864.40 million during the quarter, compared to analyst estimates of $866.46 million. Bruker had a return on equity of 21.52% and a net margin of 9.41%. The business’s revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 EPS. On average, research analysts predict that Bruker Co. will post 2.4 earnings per share for the current fiscal year.

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.