KLP Kapitalforvaltning AS Takes Position in Bruker Co. (NASDAQ:BRKR)

KLP Kapitalforvaltning AS purchased a new position in shares of Bruker Co. (NASDAQ:BRKR) during the 4th quarter, Holdings Channel.com reports. The firm purchased 21,500 shares of the medical research company’s stock, valued at approximately $1,260,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Bruker by 11.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 899,638 shares of the medical research company’s stock valued at $62,129,000 after purchasing an additional 94,612 shares during the last quarter. Cerity Partners LLC grew its position in Bruker by 446.8% in the third quarter. Cerity Partners LLC now owns 27,998 shares of the medical research company’s stock valued at $1,934,000 after acquiring an additional 22,878 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Bruker during the third quarter worth about $435,000. Bank of Montreal Can lifted its holdings in shares of Bruker by 31.2% in the third quarter. Bank of Montreal Can now owns 61,138 shares of the medical research company’s stock worth $4,321,000 after acquiring an additional 14,547 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Bruker by 3.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 115,616 shares of the medical research company’s stock valued at $7,984,000 after purchasing an additional 4,247 shares in the last quarter. 79.52% of the stock is owned by institutional investors.

Bruker Price Performance

Bruker stock opened at $42.08 on Friday. The stock’s 50 day moving average is $50.54 and its 200 day moving average is $56.96. Bruker Co. has a one year low of $41.80 and a one year high of $94.35. The firm has a market cap of $6.38 billion, a P/E ratio of 55.37, a P/E/G ratio of 2.16 and a beta of 1.18. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.60 and a quick ratio of 0.77.

Bruker (NASDAQ:BRKR) last issued its quarterly earnings results on Thursday, February 13th. The medical research company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.01. Bruker had a net margin of 3.36% and a return on equity of 21.01%. As a group, research analysts expect that Bruker Co. will post 2.69 EPS for the current year.

Bruker Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 17th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, March 17th. Bruker’s dividend payout ratio (DPR) is presently 26.32%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BRKR shares. Barclays lowered their price objective on shares of Bruker from $69.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. UBS Group began coverage on Bruker in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $66.00 price target for the company. The Goldman Sachs Group upgraded Bruker from a “sell” rating to a “neutral” rating and set a $60.00 price objective on the stock in a research report on Thursday, December 5th. Bank of America upped their target price on Bruker from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Guggenheim reissued a “buy” rating on shares of Bruker in a research note on Monday, February 24th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.50.

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.