Bruker (NASDAQ:BRKR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage presently has a $34.00 price target on the medical research company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 9.57% from the company’s previous close.
According to Zacks, “Bruker exited the first quarter on a solid note with strong year-over-year increase in revenues as well as earnings. Of late, the company’s Scientific Instruments segment has been performing well driven by strong results from NANO and BEST groups. The expansion in gross and operating margins buoys optimism. The company’s acquisition activity has been encouraging, the recent one being the buyout of Anasys Instruments in the field of Raman and FTIR spectrometers, as well as nanoscale surface science instruments. We are also upbeat about its focus on product development through higher R&D. Over the past three months, Bruker has been outperforming its industry. On the flip side, macroeconomic headwinds continue to pose challenges. Also, rising product development costs is a concern. Further, Bruker’s core BioSpin division faces fierce competition from companies offering magnetic resonance spectrometers.”
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BRKR has been the subject of several other reports. Morgan Stanley reduced their price objective on Bruker from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 11th. BidaskClub raised Bruker from a “hold” rating to a “buy” rating in a research report on Friday, April 6th. Bank of America reduced their price objective on Bruker from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Friday, May 4th. BTIG Research set a $42.00 price objective on Bruker and gave the company a “buy” rating in a research report on Sunday, May 6th. Finally, Leerink Swann increased their price objective on Bruker from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, February 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $32.91.
Shares of Bruker opened at $31.03 on Friday, MarketBeat Ratings reports. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 25.64, a P/E/G ratio of 2.01 and a beta of 1.14. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.22 and a quick ratio of 1.29. Bruker has a 12-month low of $26.00 and a 12-month high of $36.53.
Bruker (NASDAQ:BRKR) last posted its quarterly earnings data on Thursday, May 3rd. The medical research company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. Bruker had a return on equity of 27.04% and a net margin of 4.63%. The company had revenue of $431.70 million during the quarter, compared to analysts’ expectations of $419.25 million. During the same period in the prior year, the business earned $0.19 earnings per share. Bruker’s revenue for the quarter was up 12.2% compared to the same quarter last year. equities analysts predict that Bruker will post 1.39 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. TLP Group LLC acquired a new position in shares of Bruker in the first quarter valued at $190,000. Amundi Pioneer Asset Management Inc. raised its stake in shares of Bruker by 2.4% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 92,523 shares of the medical research company’s stock valued at $2,768,000 after purchasing an additional 2,199 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Bruker in the first quarter valued at $15,708,000. Guggenheim Capital LLC raised its stake in shares of Bruker by 7.6% in the first quarter. Guggenheim Capital LLC now owns 44,676 shares of the medical research company’s stock valued at $1,336,000 after purchasing an additional 3,144 shares in the last quarter. Finally, A.R.T. Advisors LLC raised its stake in shares of Bruker by 193.1% in the first quarter. A.R.T. Advisors LLC now owns 42,500 shares of the medical research company’s stock valued at $1,271,000 after purchasing an additional 28,000 shares in the last quarter. Institutional investors and hedge funds own 65.88% of the company’s stock.
Bruker Company Profile
Bruker Corporation manufactures and distributes scientific instruments, and analytical and diagnostic solutions in the United States, Europe, the Asia Pacific, and internationally. The company operates in two segments, Bruker Scientific Instruments, and Bruker Energy & Supercon Technologies. It offers life science tools based on magnetic resonance technology; life science mass spectrometry and ion mobility spectrometry systems; infrared spectroscopy and radiological/nuclear detectors for chemical, biological, radiological, nuclear, and explosive detection in emergency response, homeland security, and defense applications; and research, analytical, and process analysis instruments and solutions based on infrared and Raman molecular spectroscopy technologies.
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