Cinctive Capital Management LP Takes Position in Bruker Co. (NASDAQ:BRKR)

Cinctive Capital Management LP purchased a new position in Bruker Co. (NASDAQ:BRKR) during the third quarter, HoldingsChannel.com reports. The fund purchased 115,916 shares of the medical research company’s stock, valued at approximately $8,005,000.

A number of other large investors also recently modified their holdings of the company. Atria Investments Inc bought a new position in shares of Bruker in the first quarter worth $1,142,000. Point72 Asset Management L.P. purchased a new position in Bruker during the second quarter worth about $36,472,000. Assenagon Asset Management S.A. increased its stake 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 worth $12,936,000 after acquiring an additional 191,435 shares during the last quarter. Federated Hermes Inc. increased its stake in Bruker by 5.3% in the 2nd 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. Finally, Envestnet Asset Management Inc. boosted its position in shares of Bruker by 48.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 301,251 shares of the medical research company’s stock valued at $19,223,000 after acquiring an additional 98,427 shares during the last quarter. 79.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on BRKR shares. TD Cowen decreased their price objective on shares of Bruker from $72.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Wells Fargo & Company decreased their price target on shares of Bruker from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Barclays lowered their price objective on shares of Bruker from $75.00 to $69.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Citigroup reduced their target price on 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 lowered Bruker from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.36.

Insider Activity

In other news, CEO Frank H. Laukien bought 100,000 shares of the stock in a transaction dated Monday, November 18th. The stock was bought at an average price of $50.14 per share, for a total transaction of $5,014,000.00. Following the purchase, the chief executive officer now directly owns 38,439,563 shares in the company, valued at $1,927,359,688.82. This trade represents a 0.26 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 28.30% of the company’s stock.

Bruker Stock Down 0.7 %

Shares of NASDAQ:BRKR opened at $57.95 on Monday. The stock has a market capitalization of $8.79 billion, a P/E ratio of 27.86, a price-to-earnings-growth ratio of 3.89 and a beta of 1.20. The stock’s 50-day moving average price is $60.63 and its 200-day moving average price is $64.01. The company has a current ratio of 1.66, a quick ratio of 0.73 and a debt-to-equity ratio of 1.24. Bruker Co. has a 12-month low of $48.07 and a 12-month high of $94.86.

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

Bruker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.20 annualized dividend and a dividend yield of 0.35%. Bruker’s dividend payout ratio is 9.62%.

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.