Bank of Montreal Can Has $3.06 Million Holdings in Bruker Co. (NASDAQ:BRKR)

Bank of Montreal Can decreased its holdings in shares of Bruker Co. (NASDAQ:BRKR) by 5.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,591 shares of the medical research company’s stock after selling 2,903 shares during the quarter. Bank of Montreal Can’s holdings in Bruker were worth $3,061,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. TD Asset Management Inc increased its position in Bruker by 7.4% during the 1st quarter. TD Asset Management Inc now owns 1,788,763 shares of the medical research company’s stock worth $168,036,000 after purchasing an additional 123,984 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new position in shares of Bruker during the fourth quarter worth $3,366,000. Nomura Holdings Inc. bought a new position in shares of Bruker in the 4th quarter valued at $5,593,000. Iron Triangle Partners LP boosted its holdings in shares of Bruker by 4.4% during the 4th quarter. Iron Triangle Partners LP now owns 450,000 shares of the medical research company’s stock valued at $33,066,000 after acquiring an additional 19,157 shares in the last quarter. Finally, Congress Wealth Management LLC DE grew its position in Bruker by 21.8% during the 1st quarter. Congress Wealth Management LLC DE now owns 162,191 shares of the medical research company’s stock worth $15,236,000 after acquiring an additional 29,029 shares during the last quarter. Institutional investors own 79.52% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. TD Cowen cut their price target on Bruker from $74.00 to $72.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. The Goldman Sachs Group reduced 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. Citigroup decreased their price target on shares of 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 started coverage on shares of Bruker in a report on Tuesday, August 27th. They set an “overweight” rating and a $78.00 price target on the stock. Finally, Wolfe Research downgraded Bruker from an “outperform” rating to a “peer perform” rating in a report on Monday. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Bruker currently has an average rating of “Hold” and an average target price of $81.40.

Bruker Stock Performance

Shares of BRKR opened at $67.46 on Thursday. 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 firm’s fifty day simple moving average is $65.29 and its two-hundred day simple moving average is $71.48. Bruker Co. has a 12 month low of $53.79 and a 12 month high of $94.86. The stock has a market capitalization of $9.80 billion, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 2.43 and a beta of 1.18.

Bruker (NASDAQ:BRKR) last announced its earnings results on Tuesday, August 6th. The medical research company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. The company had revenue of $800.70 million for the quarter, compared to analyst estimates of $799.44 million. Bruker had a return on equity of 24.92% and a net margin of 11.29%. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 EPS. As a group, analysts predict that Bruker Co. will post 2.61 EPS for the current year.

Bruker Announces Dividend

The business 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. The ex-dividend date was Friday, August 30th. This represents a $0.20 annualized dividend and a dividend yield of 0.30%. Bruker’s dividend payout ratio is currently 7.27%.

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.