Envestnet Asset Management Inc. Has $19.22 Million Stake in Bruker Co. (NASDAQ:BRKR)

Envestnet Asset Management Inc. boosted its position in Bruker Co. (NASDAQ:BRKR) by 48.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 301,251 shares of the medical research company’s stock after acquiring an additional 98,427 shares during the period. Envestnet Asset Management Inc. owned 0.21% of Bruker worth $19,223,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in shares of Bruker in the 1st quarter worth $27,000. Covestor Ltd lifted its stake in shares of Bruker by 139.1% in the first quarter. Covestor Ltd now owns 361 shares of the medical research company’s stock valued at $34,000 after buying an additional 210 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Bruker by 120.4% during the second quarter. First Horizon Advisors Inc. now owns 399 shares of the medical research company’s stock valued at $25,000 after buying an additional 218 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Bruker during the fourth quarter valued at about $30,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Bruker by 40.7% during the first quarter. EverSource Wealth Advisors LLC now owns 858 shares of the medical research company’s stock worth $81,000 after acquiring an additional 248 shares in the last quarter. Institutional investors and hedge funds own 79.52% of the company’s stock.

Bruker Stock Performance

NASDAQ BRKR opened at $67.16 on Tuesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 1.65. The company has a market capitalization of $9.76 billion, a PE ratio of 24.42, 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. The company has a 50-day simple moving average of $64.64 and a 200 day simple moving average of $72.46.

Bruker (NASDAQ:BRKR) last posted its quarterly earnings results on Tuesday, August 6th. The medical research company reported $0.52 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 company had revenue of $800.70 million for the quarter, compared to analysts’ expectations of $799.44 million. During the same quarter in the previous year, the firm posted $0.50 EPS. Bruker’s revenue was up 17.4% on a year-over-year basis. On average, research analysts predict that Bruker Co. will post 2.61 EPS for the current year.

Bruker Announces Dividend

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

Wall Street Analyst Weigh In

BRKR has been the subject of a number of analyst reports. Wells Fargo & Company started coverage on Bruker in a research note on Tuesday, August 27th. They set an “overweight” rating and a $78.00 price target for the company. Citigroup lowered their price target on Bruker from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Jefferies Financial Group began coverage on shares of Bruker in a report on Monday, June 3rd. They set a “buy” rating and a $85.00 price objective on the stock. TD Cowen lowered their target price 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. Finally, 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.40.

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.