Bruker Co. (NASDAQ:BRKR) Sees Large Drop in Short Interest

Bruker Co. (NASDAQ:BRKR) saw a significant decline in short interest in July. As of July 15th, there was short interest totalling 3,070,000 shares, a decline of 13.0% from the June 30th total of 3,530,000 shares. Based on an average daily trading volume, of 1,250,000 shares, the short-interest ratio is currently 2.5 days. Currently, 3.0% of the shares of the stock are short sold.

Bruker Price Performance

Shares of NASDAQ:BRKR traded up $1.01 during trading on Tuesday, reaching $67.94. 1,037,605 shares of the company’s stock traded hands, compared to its average volume of 1,007,163. Bruker has a fifty-two week low of $53.79 and a fifty-two week high of $94.86. The company has a quick ratio of 0.91, a current ratio of 1.81 and a debt-to-equity ratio of 0.95. The firm has a market cap of $9.87 billion, a PE ratio of 24.71, a P/E/G ratio of 2.33 and a beta of 1.20. The company has a 50-day simple moving average of $65.72 and a 200-day simple moving average of $76.04.

Bruker (NASDAQ:BRKR) last posted its earnings results on Thursday, May 2nd. The medical research company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. Bruker had a return on equity of 27.31% and a net margin of 13.38%. The firm had revenue of $721.70 million for the quarter, compared to analysts’ expectations of $729.88 million. During the same period last year, the firm earned $0.64 EPS. The company’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, analysts predict that Bruker will post 2.66 earnings per share for the current year.

Bruker Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Monday, June 3rd. Bruker’s dividend payout ratio is presently 7.27%.

Analysts Set New Price Targets

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. Bank of America cut their target price on Bruker from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. Citigroup cut their target price on Bruker from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Jefferies Financial Group assumed coverage on Bruker in a report on Monday, June 3rd. They issued a “buy” rating and a $85.00 price target for the company. Finally, Stifel Nicolaus lowered their price target on Bruker from $81.00 to $77.00 and set a “hold” rating for the company in a report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat, Bruker presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.78.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Lindbrook Capital LLC lifted its stake in Bruker by 68.2% in the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the medical research company’s stock valued at $26,000 after buying an additional 146 shares in the last quarter. Lifestyle Asset Management Inc. lifted its stake in Bruker by 1.3% in the 1st quarter. Lifestyle Asset Management Inc. now owns 12,534 shares of the medical research company’s stock worth $1,177,000 after purchasing an additional 158 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Bruker by 20.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 991 shares of the medical research company’s stock worth $63,000 after purchasing an additional 165 shares in the last quarter. Securian Asset Management Inc. lifted its stake in 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 purchasing an additional 175 shares in the last quarter. Finally, Park Place Capital Corp lifted its stake in 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 purchasing an additional 185 shares in the last quarter. 79.52% of the stock is owned by hedge funds and other institutional investors.

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.