Sandia Investment Management LP Acquires Shares of 10,000 Bruker Co. (NASDAQ:BRKR)

Sandia Investment Management LP bought a new position in Bruker Co. (NASDAQ:BRKR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,000 shares of the medical research company’s stock, valued at approximately $638,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Lifestyle Asset Management Inc. grew its holdings in Bruker by 1.3% during the 1st quarter. Lifestyle Asset Management Inc. now owns 12,534 shares of the medical research company’s stock valued at $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% during the second quarter. Nisa Investment Advisors LLC now owns 991 shares of the medical research company’s stock valued at $63,000 after purchasing an additional 165 shares in the last quarter. Securian Asset Management Inc. grew its stake in shares of Bruker by 2.3% in the 2nd quarter. Securian Asset Management Inc. now owns 7,766 shares of the medical research company’s stock worth $496,000 after buying an additional 175 shares in the last quarter. Park Place Capital Corp increased its holdings in shares of Bruker by 19.4% in the 1st quarter. Park Place Capital Corp now owns 1,139 shares of the medical research company’s stock worth $107,000 after buying an additional 185 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of Bruker by 24.7% during the 4th quarter. Assetmark Inc. now owns 1,005 shares of the medical research company’s stock valued at $74,000 after buying an additional 199 shares in the last quarter. Institutional investors own 79.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. The Goldman Sachs Group reduced their price objective on Bruker from $72.00 to $60.00 and set a “sell” rating on the stock in a research note on Tuesday, July 9th. Wells Fargo & Company started coverage on Bruker in a report on Tuesday, August 27th. They set an “overweight” rating and a $78.00 price target on the stock. TD Cowen dropped their price objective on shares of Bruker from $74.00 to $72.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Jefferies Financial Group started coverage on shares of Bruker in a research note on Monday, June 3rd. They issued a “buy” rating and a $85.00 target price on the stock. Finally, Citigroup dropped their price target on shares of Bruker from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.40.

Bruker Trading Up 1.7 %

Shares of BRKR opened at $68.32 on Wednesday. The firm has a market capitalization of $9.93 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 2.31 and a beta of 1.18. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.65 and a quick ratio of 0.75. Bruker Co. has a 1-year low of $53.79 and a 1-year high of $94.86. The company has a 50-day moving average of $64.68 and a 200 day moving average of $72.30.

Bruker (NASDAQ:BRKR) last posted its quarterly 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. Bruker had a net margin of 11.29% and a return on equity of 24.92%. The firm had revenue of $800.70 million during the quarter, compared to the consensus estimate of $799.44 million. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The company’s revenue was up 17.4% on a year-over-year basis. On average, research analysts expect that Bruker Co. will post 2.61 EPS for the current year.

Bruker Announces Dividend

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

Bruker Company 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.