Main Management ETF Advisors LLC Purchases New Position in Bruker Co. (NASDAQ:BRKR)

Main Management ETF Advisors LLC purchased a new stake in Bruker Co. (NASDAQ:BRKR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,192 shares of the medical research company’s stock, valued at approximately $911,000.

Several other institutional investors have also bought and sold shares of the stock. Point72 Asset Management L.P. bought a new position in Bruker in the 2nd quarter valued at $36,472,000. Assenagon Asset Management S.A. raised its position in Bruker by 1,694.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 202,733 shares of the medical research company’s stock valued at $12,936,000 after purchasing an additional 191,435 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Bruker by 5.3% during the second quarter. Federated Hermes Inc. now owns 166,561 shares of the medical research company’s stock worth $10,628,000 after acquiring an additional 8,346 shares during the last quarter. Cerity Partners LLC raised its position in shares of Bruker by 446.8% during the third quarter. Cerity Partners LLC now owns 27,998 shares of the medical research company’s stock worth $1,934,000 after acquiring an additional 22,878 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Bruker by 48.5% during the second quarter. Envestnet Asset Management Inc. now owns 301,251 shares of the medical research company’s stock worth $19,223,000 after acquiring an additional 98,427 shares during the last quarter. Institutional investors and hedge funds own 79.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BRKR shares. TD Cowen dropped their target price on Bruker from $72.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group upgraded Bruker from a “sell” rating to a “neutral” rating and set a $60.00 price objective for the company in a report on Thursday. Wells Fargo & Company dropped their price objective on Bruker from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Barclays dropped their price objective on Bruker from $75.00 to $69.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Finally, Wolfe Research downgraded Bruker from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $79.36.

Bruker Stock Up 0.8 %

BRKR stock opened at $58.96 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.66 and a quick ratio of 0.73. The stock has a market capitalization of $8.94 billion, a P/E ratio of 28.35, a P/E/G ratio of 3.99 and a beta of 1.18. The business has a 50-day moving average of $59.61 and a 200-day moving average of $63.48. Bruker Co. has a fifty-two week low of $48.07 and a fifty-two week high of $94.86.

Bruker (NASDAQ:BRKR) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.01). Bruker had a return on equity of 21.52% and a net margin of 9.41%. The firm had revenue of $864.40 million for the quarter, compared to analyst estimates of $866.46 million. During the same period in the prior year, the company earned $0.74 earnings per share. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. On average, sell-side analysts anticipate that Bruker Co. will post 2.4 earnings per share for the current fiscal year.

Bruker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.05 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.20 annualized dividend and a yield of 0.34%. Bruker’s dividend payout ratio is 9.62%.

Insider Buying and Selling at Bruker

In other Bruker news, CEO Frank H. Laukien acquired 100,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were purchased at an average price of $50.14 per share, for a total transaction of $5,014,000.00. Following the completion of the purchase, the chief executive officer now directly owns 38,439,563 shares of the company’s stock, valued at approximately $1,927,359,688.82. This represents a 0.26 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 28.30% of the company’s stock.

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.