Amalgamated Bank Reduces Stock Position in Bruker Co. (NASDAQ:BRKR)

Amalgamated Bank reduced its holdings in shares of Bruker Co. (NASDAQ:BRKR) by 3.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,432 shares of the medical research company’s stock after selling 1,801 shares during the quarter. Amalgamated Bank’s holdings in Bruker were worth $3,218,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. TD Asset Management Inc boosted its stake in Bruker by 7.4% during 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 acquiring an additional 123,984 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new position in Bruker in the fourth quarter worth about $3,366,000. Nomura Holdings Inc. bought a new stake in Bruker in the fourth quarter valued at about $5,593,000. Iron Triangle Partners LP raised its stake in Bruker by 4.4% during the fourth quarter. Iron Triangle Partners LP now owns 450,000 shares of the medical research company’s stock valued at $33,066,000 after buying an additional 19,157 shares in the last quarter. Finally, Congress Wealth Management LLC DE lifted its holdings in Bruker by 21.8% during the 1st quarter. Congress Wealth Management LLC DE now owns 162,191 shares of the medical research company’s stock worth $15,236,000 after buying an additional 29,029 shares during the last quarter. Institutional investors and hedge funds own 79.52% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Bruker Stock Performance

Shares of Bruker stock opened at $67.16 on Tuesday. The stock has a market cap 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 12 month low of $53.79 and a 12 month high of $94.86. 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 business has a fifty day simple moving average of $64.64 and a 200-day simple moving average of $72.46.

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

Bruker Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders 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 dividend yield of 0.30%. Bruker’s payout ratio is currently 7.27%.

Bruker 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.