Truist Financial Corp Sells 431 Shares of Bruker Co. (NASDAQ:BRKR)

Truist Financial Corp reduced its position in Bruker Co. (NASDAQ:BRKR) by 10.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,513 shares of the medical research company’s stock after selling 431 shares during the period. Truist Financial Corp’s holdings in Bruker were worth $224,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lifestyle Asset Management Inc. lifted its position 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 purchasing an additional 158 shares during the period. Nisa Investment Advisors LLC boosted its stake in Bruker by 20.0% in the second quarter. Nisa Investment Advisors LLC now owns 991 shares of the medical research company’s stock valued at $63,000 after acquiring an additional 165 shares during the last quarter. Securian Asset Management Inc. boosted its stake in Bruker by 2.3% in the second quarter. Securian Asset Management Inc. now owns 7,766 shares of the medical research company’s stock valued at $496,000 after acquiring an additional 175 shares during the last quarter. Park Place Capital Corp grew its holdings in 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 acquiring an additional 185 shares during the period. Finally, Covestor Ltd raised its position in shares of Bruker by 139.1% during 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 last quarter. Institutional investors own 79.52% of the company’s stock.

Bruker Trading Up 3.2 %

Shares of NASDAQ:BRKR opened at $62.45 on Friday. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 2.52 and a beta of 1.18. Bruker Co. has a 12 month low of $53.79 and a 12 month high of $94.86. The company’s fifty day simple moving average is $65.10 and its 200 day simple moving average is $69.01. The company has a quick ratio of 0.75, a current ratio of 1.65 and a debt-to-equity ratio of 1.18.

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

Bruker Dividend Announcement

The firm 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 was Friday, August 30th. This represents a $0.20 annualized dividend and a dividend yield of 0.32%. Bruker’s dividend payout ratio is currently 7.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BRKR shares. The Goldman Sachs Group decreased their price objective on Bruker from $72.00 to $60.00 and set a “sell” rating for the company in a research note on Tuesday, July 9th. TD Cowen decreased their target price on Bruker from $74.00 to $72.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Wolfe Research downgraded shares of Bruker from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. Wells Fargo & Company assumed coverage on shares of Bruker in a report on Tuesday, August 27th. They set an “overweight” rating and a $78.00 price objective for the company. Finally, Barclays initiated coverage on shares of Bruker in a report on Tuesday, October 15th. They issued an “overweight” rating and a $75.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bruker presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.82.

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.