State Street Corp Has $32.68 Million Stake in Bruker Corporation (NASDAQ:BRKR)

State Street Corp lowered its position in shares of Bruker Corporation (NASDAQ:BRKR) by 2.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,400,585 shares of the medical research company’s stock after selling 31,204 shares during the period. State Street Corp owned approximately 0.88% of Bruker Corporation worth $32,675,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Bruker Corporation by 2.9% in the first quarter. Vanguard Group Inc. now owns 9,832,452 shares of the medical research company’s stock worth $229,391,000 after buying an additional 277,111 shares during the last quarter. FMR LLC raised its position in Bruker Corporation by 26.4% in the first quarter. FMR LLC now owns 7,146,000 shares of the medical research company’s stock worth $166,716,000 after buying an additional 1,491,140 shares during the last quarter. BlackRock Inc. raised its position in Bruker Corporation by 26,266.0% in the first quarter. BlackRock Inc. now owns 4,607,722 shares of the medical research company’s stock worth $107,498,000 after buying an additional 4,590,246 shares during the last quarter. Boston Partners raised its position in Bruker Corporation by 12.9% in the first quarter. Boston Partners now owns 2,676,228 shares of the medical research company’s stock worth $62,436,000 after buying an additional 305,167 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Bruker Corporation by 12.4% in the first quarter. Victory Capital Management Inc. now owns 1,806,887 shares of the medical research company’s stock worth $42,155,000 after buying an additional 199,166 shares during the last quarter. 67.00% of the stock is owned by institutional investors and hedge funds.

Bruker Corporation (BRKR) traded up 1.59% during trading on Friday, reaching $27.50. 579,994 shares of the company’s stock traded hands. The company has a 50-day moving average price of $28.60 and a 200 day moving average price of $25.66. The firm has a market capitalization of $4.35 billion, a PE ratio of 27.50 and a beta of 1.10. Bruker Corporation has a one year low of $19.58 and a one year high of $30.22.

Bruker Corporation (NASDAQ:BRKR) last posted its quarterly earnings data on Thursday, August 3rd. The medical research company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. Bruker Corporation had a return on equity of 26.66% and a net margin of 9.65%. The company had revenue of $414.90 million for the quarter, compared to the consensus estimate of $384.75 million. During the same period in the previous year, the business earned $0.20 EPS. Bruker Corporation’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, analysts anticipate that Bruker Corporation will post $1.12 earnings per share for the current fiscal year.

Bruker Corporation announced that its Board of Directors has authorized a share buyback plan on Friday, May 12th that permits the company to repurchase $225.00 million in shares. This repurchase authorization permits the medical research company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

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A number of equities analysts recently weighed in on BRKR shares. Deutsche Bank AG upped their target price on shares of Bruker Corporation from $25.00 to $27.00 and gave the stock a “hold” rating in a research report on Monday, May 15th. BidaskClub lowered shares of Bruker Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday. Barclays PLC restated an “equal weight” rating and set a $30.00 target price (up previously from $26.00) on shares of Bruker Corporation in a research report on Monday, July 17th. Cowen and Company restated a “hold” rating and set a $29.00 target price on shares of Bruker Corporation in a research report on Friday, July 14th. Finally, Cleveland Research upgraded shares of Bruker Corporation from a “neutral” rating to a “buy” rating in a research report on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. Bruker Corporation currently has a consensus rating of “Hold” and an average price target of $27.00.

In other news, CEO Frank H. Laukien purchased 1,920 shares of the stock in a transaction dated Tuesday, May 16th. The stock was acquired at an average cost of $25.88 per share, for a total transaction of $49,689.60. Following the acquisition, the chief executive officer now owns 37,712,851 shares of the company’s stock, valued at $976,008,583.88. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, VP Mark Munch sold 73,724 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $27.62, for a total value of $2,036,256.88. Following the completion of the sale, the vice president now owns 106,602 shares of the company’s stock, valued at $2,944,347.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 80,455 shares of company stock worth $2,111,321 and have sold 117,624 shares worth $3,271,574. 35.20% of the stock is owned by insiders.

Bruker Corporation Company Profile

Bruker Corporation designs and manufactures scientific instruments, and analytical and diagnostic solutions. Its segments include the Bruker BioSpin Group; the Bruker Chemicals, Applied Markets, Life Science, In-Vitro Diagnostics, Detection (CALID) Group; the Bruker Nano Group, and the Bruker Energy & Supercon Technologies (BEST) Segment.

Institutional Ownership by Quarter for Bruker Corporation (NASDAQ:BRKR)

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