Mutual of America Capital Management LLC Raises Stock Position in Bruker Co. (NASDAQ:BRKR)

Mutual of America Capital Management LLC grew its holdings in shares of Bruker Co. (NASDAQ:BRKR) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,750 shares of the medical research company’s stock after buying an additional 496 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Bruker were worth $3,557,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Principal Securities Inc. bought a new stake in Bruker in the fourth quarter worth $42,000. Panagora Asset Management Inc. bought a new stake in shares of Bruker in the 4th quarter worth about $205,000. Norges Bank purchased a new position in shares of Bruker during the 4th quarter worth about $74,582,000. Coldstream Capital Management Inc. bought a new position in Bruker during the 4th quarter valued at about $209,000. Finally, Assetmark Inc. raised its position in Bruker by 24.7% in the 4th quarter. Assetmark Inc. now owns 1,005 shares of the medical research company’s stock worth $74,000 after purchasing an additional 199 shares during the period. Institutional investors own 79.52% of the company’s stock.

Bruker Stock Performance

Shares of NASDAQ:BRKR opened at $67.54 on Monday. The firm has a 50 day moving average of $64.56 and a 200 day moving average of $72.64. The company has a quick ratio of 0.75, a current ratio of 1.65 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $9.82 billion, a price-to-earnings ratio of 24.56, a price-to-earnings-growth ratio of 2.31 and a beta of 1.18. Bruker Co. has a 52 week low of $53.79 and a 52 week high of $94.86.

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

Bruker Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were given 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 7.27%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Jefferies Financial Group began coverage on Bruker in a research report on Monday, June 3rd. They set a “buy” rating and a $85.00 target price for the company. Wells Fargo & Company assumed coverage on Bruker in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $78.00 price objective on the stock. TD Cowen decreased their target price on Bruker from $74.00 to $72.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. The Goldman Sachs Group cut their price target on shares of Bruker from $72.00 to $60.00 and set a “sell” rating on the stock in a report on Tuesday, July 9th. Finally, Citigroup decreased their price objective on shares of Bruker from $95.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $81.40.

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.