State of Alaska Department of Revenue Boosts Holdings in Bruker Co. (NASDAQ:BRKR)

State of Alaska Department of Revenue raised its holdings in shares of Bruker Co. (NASDAQ:BRKR) by 5.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,686 shares of the medical research company’s stock after acquiring an additional 2,245 shares during the quarter. State of Alaska Department of Revenue’s holdings in Bruker were worth $2,947,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its holdings in shares of Bruker by 20.0% during the second quarter. Nisa Investment Advisors LLC now owns 991 shares of the medical research company’s stock worth $63,000 after buying an additional 165 shares in the last quarter. Securian Asset Management Inc. grew its holdings in shares of Bruker by 2.3% during the second 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. Covestor Ltd grew its holdings in shares of Bruker by 139.1% during the first quarter. Covestor Ltd now owns 361 shares of the medical research company’s stock worth $34,000 after buying an additional 210 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Bruker by 120.4% during the second 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 in the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of Bruker by 0.8% during the second quarter. Ameritas Investment Partners Inc. now owns 30,911 shares of the medical research company’s stock worth $1,972,000 after buying an additional 235 shares in the last quarter. 79.52% of the stock is currently owned by hedge funds and other institutional investors.

Bruker Stock Performance

Bruker stock opened at $56.61 on Friday. 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 12 month low of $55.12 and a 12 month high of $94.86. The company has a market cap of $8.23 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 2.52 and a beta of 1.18. The stock’s 50-day moving average is $64.47 and its 200-day moving average is $67.30.

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

Bruker Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.35%. Bruker’s dividend payout ratio (DPR) is currently 7.27%.

Wall Street Analysts Forecast Growth

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

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.