Kornitzer Capital Management Inc. KS Acquires New Stake in Bruker Co. (NASDAQ:BRKR)

Kornitzer Capital Management Inc. KS acquired a new stake in Bruker Co. (NASDAQ:BRKR) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 83,000 shares of the medical research company’s stock, valued at approximately $5,732,000. Kornitzer Capital Management Inc. KS owned about 0.06% of Bruker as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Nisa Investment Advisors LLC increased its stake in shares of Bruker by 20.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 991 shares of the medical research company’s stock worth $63,000 after acquiring an additional 165 shares during the last quarter. Securian Asset Management Inc. increased its stake in shares of Bruker by 2.3% in the 2nd quarter. Securian Asset Management Inc. now owns 7,766 shares of the medical research company’s stock worth $496,000 after acquiring an additional 175 shares during the last quarter. Covestor Ltd increased its stake in shares of Bruker by 139.1% in the 1st quarter. Covestor Ltd now owns 361 shares of the medical research company’s stock worth $34,000 after acquiring an additional 210 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of Bruker by 120.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 399 shares of the medical research company’s stock worth $25,000 after acquiring an additional 218 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Bruker by 0.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 30,911 shares of the medical research company’s stock worth $1,972,000 after acquiring an additional 235 shares during the last quarter. 79.52% of the stock is owned by institutional investors and hedge funds.

Bruker Stock Performance

Shares of Bruker stock opened at $60.49 on Friday. The business has a 50-day moving average of $63.83 and a 200 day moving average of $66.47. Bruker Co. has a 12 month low of $54.55 and a 12 month high of $94.86. The stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.65 and a quick ratio of 0.75.

Bruker (NASDAQ:BRKR) last announced its quarterly earnings data on Tuesday, November 5th. 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 company had revenue of $864.40 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted $0.74 EPS. As a group, sell-side analysts forecast that Bruker Co. will post 2.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. TD Cowen cut their target price on Bruker from $72.00 to $70.00 and set a “hold” rating for the company in a research note on Wednesday. Wolfe Research cut Bruker from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Barclays lowered their price target on Bruker from $75.00 to $69.00 and set an “overweight” rating for the company in a report on Wednesday. Citigroup lowered their price target on Bruker from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company lowered their price target on Bruker from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday. One 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.36.

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.