Zurcher Kantonalbank Zurich Cantonalbank Has $28.33 Million Stock Position in Bruker Co. (NASDAQ:BRKR)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Bruker Co. (NASDAQ:BRKR) by 1,933.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 410,234 shares of the medical research company’s stock after acquiring an additional 390,057 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.27% of Bruker worth $28,331,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. MetLife Investment Management LLC grew its position in shares of Bruker by 10.6% during the 3rd quarter. MetLife Investment Management LLC now owns 60,247 shares of the medical research company’s stock worth $4,161,000 after purchasing an additional 5,757 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in shares of Bruker by 41.1% in the third quarter. Glenmede Trust Co. NA now owns 5,772 shares of the medical research company’s stock valued at $399,000 after buying an additional 1,680 shares during the period. FMR LLC grew its position in Bruker by 21.4% during the third quarter. FMR LLC now owns 14,306,122 shares of the medical research company’s stock worth $987,981,000 after buying an additional 2,521,904 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Bruker by 3.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 115,616 shares of the medical research company’s stock worth $7,984,000 after acquiring an additional 4,247 shares during the period. Finally, Bank of Montreal Can raised its holdings in Bruker by 31.2% in the 3rd quarter. Bank of Montreal Can now owns 61,138 shares of the medical research company’s stock valued at $4,321,000 after acquiring an additional 14,547 shares in the last quarter. 79.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BRKR shares. Barclays reduced their target price on Bruker from $75.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. TD Cowen reduced their price objective on shares of Bruker from $72.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Wells Fargo & Company dropped their target price on shares of Bruker from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. Citigroup decreased their price objective on shares of Bruker from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Wolfe Research cut Bruker from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $79.36.

Bruker Stock Performance

NASDAQ:BRKR opened at $58.38 on Friday. The stock’s 50-day moving average is $61.02 and its 200-day moving average is $64.24. Bruker Co. has a 1-year low of $48.07 and a 1-year high of $94.86. The company has a current ratio of 1.66, a quick ratio of 0.73 and a debt-to-equity ratio of 1.24. The stock has a market cap of $8.85 billion, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 3.95 and a beta of 1.20.

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

Bruker Announces Dividend

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

Insider Buying and Selling at Bruker

In other news, CEO Frank H. Laukien purchased 100,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 38,439,563 shares of the company’s stock, valued at approximately $1,927,359,688.82. This trade represents a 0.26 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 28.30% of the company’s stock.

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.