Bruker (NASDAQ:BRKR) Hits New 12-Month Low Following Weak Earnings

Shares of Bruker Co. (NASDAQ:BRKR) hit a new 52-week low on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $54.72 and last traded at $58.08, with a volume of 101947 shares traded. The stock had previously closed at $59.35.

The medical research company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.01). The firm had revenue of $864.40 million during the quarter, compared to analyst estimates of $866.46 million. Bruker had a net margin of 11.29% and a return on equity of 24.92%. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 earnings per share.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Bruker

Hedge funds have recently modified their holdings of the stock. Marshall Wace LLP boosted its holdings in shares of Bruker by 127.8% in the 2nd quarter. Marshall Wace LLP now owns 1,389,537 shares of the medical research company’s stock valued at $88,666,000 after purchasing an additional 779,549 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Bruker in the second quarter worth about $36,472,000. AQR Capital Management LLC grew its stake in shares of Bruker by 123.6% in the second quarter. AQR Capital Management LLC now owns 555,468 shares of the medical research company’s stock valued at $35,444,000 after buying an additional 307,021 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Bruker by 78.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 593,091 shares of the medical research company’s stock valued at $37,845,000 after buying an additional 260,363 shares during the period. Finally, Point72 Europe London LLP lifted its position in Bruker by 262.9% during the 2nd quarter. Point72 Europe London LLP now owns 333,997 shares of the medical research company’s stock worth $21,312,000 after acquiring an additional 241,959 shares in the last quarter. 79.52% of the stock is owned by institutional investors and hedge funds.

Bruker Stock Performance

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 stock has a fifty day simple moving average of $63.97 and a two-hundred day simple moving average of $66.51. The stock has a market cap of $8.93 billion, a PE ratio of 24.47, a PEG ratio of 2.32 and a beta of 1.20.

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.