Wolfe Research Downgrades Bruker (NASDAQ:BRKR) to Peer Perform

Bruker (NASDAQ:BRKR) was downgraded by investment analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a note issued to investors on Monday, Marketbeat reports.

Several other brokerages have also recently weighed in on BRKR. Jefferies Financial Group started coverage on Bruker in a research note on Monday, June 3rd. They set a “buy” rating and a $85.00 price objective on the stock. Citigroup decreased their price target on Bruker from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Wells Fargo & Company initiated coverage on shares of Bruker in a research note on Tuesday, August 27th. They set an “overweight” rating and a $78.00 price objective for the company. 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 research note on Tuesday, July 9th. Finally, TD Cowen dropped their price target 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $81.40.

Bruker Stock Performance

NASDAQ BRKR opened at $66.76 on Monday. 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 has a 1-year low of $53.79 and a 1-year high of $94.86. The business has a 50 day simple moving average of $65.29 and a two-hundred day simple moving average of $71.48. The stock has a market capitalization of $9.70 billion, a PE ratio of 24.28, a P/E/G ratio of 2.43 and a beta of 1.18.

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

Institutional Trading of Bruker

Institutional investors and hedge funds have recently made changes to their positions in the company. TD Asset Management Inc lifted its position in shares of Bruker by 7.4% during the first quarter. TD Asset Management Inc now owns 1,788,763 shares of the medical research company’s stock valued at $168,036,000 after buying an additional 123,984 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new stake in Bruker in the fourth quarter valued at approximately $3,366,000. Nomura Holdings Inc. purchased a new position in Bruker in the fourth quarter worth $5,593,000. Iron Triangle Partners LP increased its position in shares of Bruker by 4.4% during the fourth quarter. Iron Triangle Partners LP now owns 450,000 shares of the medical research company’s stock worth $33,066,000 after purchasing an additional 19,157 shares in the last quarter. Finally, Congress Wealth Management LLC DE lifted its holdings in shares of 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 valued at $15,236,000 after purchasing an additional 29,029 shares during the last quarter. 79.52% of the stock is currently owned by institutional investors.

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.