Mengis Capital Management Inc. Has $3.87 Million Position in Bruker Co. (NASDAQ:BRKR)

Mengis Capital Management Inc. trimmed its holdings in shares of Bruker Co. (NASDAQ:BRKR) by 5.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 56,035 shares of the medical research company’s stock after selling 3,505 shares during the period. Mengis Capital Management Inc.’s holdings in Bruker were worth $3,870,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BRKR. Wolfe Research cut Bruker from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. Citigroup reduced their price objective on shares of Bruker from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Barclays dropped 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. TD Cowen reduced their target price on shares of Bruker from $72.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Finally, Wells Fargo & Company lowered 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.36.

Bruker Stock Down 1.1 %

Shares of BRKR opened at $56.02 on Wednesday. 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 capitalization of $8.49 billion, a PE ratio of 26.93, a P/E/G ratio of 2.71 and a beta of 1.20. The firm’s 50 day moving average is $63.24 and its 200-day moving average is $65.75. Bruker Co. has a 12 month low of $54.55 and a 12 month high of $94.86.

Bruker (NASDAQ:BRKR) last announced its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.60 earnings per share 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 analyst estimates of $866.46 million. Bruker had a net margin of 9.41% and a return on equity of 21.52%. Bruker’s revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 earnings per share. Equities research analysts forecast that Bruker Co. will post 2.4 EPS for the current year.

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.