Bruker (NASDAQ:BRKR) Hits New 1-Year Low on Disappointing Earnings

Shares of Bruker Co. (NASDAQ:BRKR) reached a new 52-week low on Tuesday following a dissappointing earnings announcement. The stock traded as low as $54.72 and last traded at $58.08, with a volume of 101947 shares. The stock had previously closed at $59.35.

The medical research company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). The business 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%. Bruker’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the company earned $0.74 earnings per share.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BRKR. First Horizon Advisors Inc. lifted its position in Bruker by 120.4% in the second quarter. First Horizon Advisors Inc. now owns 399 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 218 shares during the last quarter. Covestor Ltd grew its stake in Bruker by 139.1% during the 1st quarter. Covestor Ltd now owns 361 shares of the medical research company’s stock worth $34,000 after buying an additional 210 shares during the last quarter. UMB Bank n.a. lifted its stake in Bruker by 115.3% in the third quarter. UMB Bank n.a. now owns 661 shares of the medical research company’s stock valued at $46,000 after buying an additional 354 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Bruker in the second quarter valued at approximately $52,000. Finally, GAMMA Investing LLC grew its position in shares of Bruker by 81.0% during the third quarter. GAMMA Investing LLC now owns 867 shares of the medical research company’s stock worth $60,000 after acquiring an additional 388 shares during the last quarter. Institutional investors and hedge funds own 79.52% of the company’s stock.

Bruker Stock Down 3.8 %

The firm has a market capitalization of $8.93 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 2.32 and a beta of 1.20. The business’s fifty day moving average price is $63.97 and its 200 day moving average price is $66.51. The company has a current ratio of 1.65, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18.

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.