The Manufacturers Life Insurance Company Has $7.11 Million Holdings in Bruker Co. (NASDAQ:BRKR)

The Manufacturers Life Insurance Company trimmed its holdings in Bruker Co. (NASDAQ:BRKR) by 2.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,369 shares of the medical research company’s stock after selling 2,641 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of Bruker worth $7,106,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in BRKR. TD Asset Management Inc increased its holdings in Bruker by 7.4% in the 1st 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 period. Congress Asset Management Co. MA increased its stake in Bruker by 3.5% in the first quarter. Congress Asset Management Co. MA now owns 1,414,362 shares of the medical research company’s stock valued at $132,865,000 after acquiring an additional 47,301 shares during the last quarter. Marshall Wace LLP raised its position in Bruker by 127.8% during the second quarter. Marshall Wace LLP now owns 1,389,537 shares of the medical research company’s stock valued at $88,666,000 after purchasing an additional 779,549 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Bruker by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,277,273 shares of the medical research company’s stock worth $81,508,000 after purchasing an additional 101,539 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Bruker by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 966,069 shares of the medical research company’s stock valued at $61,645,000 after purchasing an additional 27,870 shares in the last quarter. 79.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BRKR has been the subject of a number of research analyst reports. Wells Fargo & Company initiated coverage on 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 dropped their target price 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. Wolfe Research lowered shares of Bruker from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Citigroup dropped their price objective on shares of Bruker from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Finally, TD Cowen lowered their price target on shares of Bruker from $74.00 to $72.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $81.40.

Bruker Price Performance

Shares of BRKR opened at $67.00 on Friday. The business has a 50-day moving average of $65.39 and a 200-day moving average of $71.24. Bruker Co. has a 1 year low of $53.79 and a 1 year high of $94.86. The company has a market capitalization of $9.74 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 2.43 and a beta of 1.18. 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 (NASDAQ:BRKR) last issued its quarterly earnings results on Tuesday, August 6th. The medical research company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. Bruker had a net margin of 11.29% and a return on equity of 24.92%. The firm had revenue of $800.70 million for the quarter, compared to the consensus estimate of $799.44 million. During the same quarter in the previous year, the company earned $0.50 EPS. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, equities research analysts anticipate that Bruker Co. will post 2.61 earnings per share for the current year.

Bruker Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.20 dividend on an annualized basis and a yield of 0.30%. Bruker’s payout ratio is currently 7.27%.

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.