Bruker (NASDAQ:BRKR) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Bruker (NASDAQ:BRKR) issued its quarterly earnings results on Tuesday. The medical research company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01), Briefing.com reports. The company had revenue of $864.40 million during the quarter, compared to the consensus estimate of $866.46 million. Bruker had a return on equity of 24.92% and a net margin of 11.29%. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 EPS. Bruker updated its FY 2024 guidance to 2.360-2.410 EPS and its FY24 guidance to $2.36-2.41 EPS.

Bruker Stock Down 3.7 %

Bruker stock traded down $2.22 during mid-day trading on Friday, reaching $58.27. The stock had a trading volume of 410,204 shares, compared to its average volume of 1,069,854. The stock’s 50-day simple moving average is $63.83 and its 200-day simple moving average is $66.47. Bruker has a fifty-two week low of $54.55 and a fifty-two week high of $94.86. 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 firm has a market capitalization of $8.82 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20.

Analysts Set New Price Targets

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

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.