Wells Fargo & Company Cuts Bruker (NASDAQ:BRKR) Price Target to $75.00

Bruker (NASDAQ:BRKR) had its price target cut by Wells Fargo & Company from $78.00 to $75.00 in a research report report published on Wednesday,Benzinga reports. They currently have an overweight rating on the medical research company’s stock.

A number of other research firms also recently commented on BRKR. TD Cowen dropped their target price on shares of Bruker from $74.00 to $72.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Barclays dropped their target price on shares of Bruker from $75.00 to $69.00 and set an “overweight” rating on the stock in a research report on Wednesday. Citigroup dropped their target price on shares of Bruker from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. The Goldman Sachs Group lowered their price objective on shares of Bruker from $72.00 to $60.00 and set a “sell” rating on the stock in a research report on Tuesday, July 9th. Finally, Wolfe Research cut Bruker from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. One investment 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $79.36.

Bruker Trading Down 4.6 %

Shares of BRKR stock traded down $2.76 during trading hours on Wednesday, hitting $57.73. The company had a trading volume of 1,077,386 shares, compared to its average volume of 1,072,928. The stock has a market capitalization of $8.74 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. 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 current ratio of 1.65 and a quick ratio of 0.75. The company’s fifty day moving average is $63.64 and its 200 day moving average is $66.32.

Bruker (NASDAQ:BRKR) last released its earnings results on Tuesday, November 5th. The medical research company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). The business had revenue of $864.40 million for the quarter, compared to analyst estimates of $866.46 million. Bruker had a return on equity of 24.92% and a net margin of 11.29%. Bruker’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 earnings per share. Research analysts expect that Bruker will post 2.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bruker

Hedge funds have recently bought and sold shares of the stock. TD Asset Management Inc boosted its holdings in shares of Bruker by 7.4% during the first quarter. TD Asset Management Inc now owns 1,788,763 shares of the medical research company’s stock worth $168,036,000 after purchasing an additional 123,984 shares during the last quarter. Atria Investments Inc purchased a new position in Bruker in the first quarter valued at about $1,142,000. Point72 Asset Management L.P. purchased a new position in Bruker in the second quarter valued at about $36,472,000. Epoch Investment Partners Inc. raised its position in Bruker by 15.2% in the first quarter. Epoch Investment Partners Inc. now owns 466,865 shares of the medical research company’s stock valued at $43,857,000 after purchasing an additional 61,429 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in Bruker by 1,694.4% in the second quarter. Assenagon Asset Management S.A. now owns 202,733 shares of the medical research company’s stock valued at $12,936,000 after purchasing an additional 191,435 shares during the period. Hedge funds and other institutional investors own 79.52% of the company’s stock.

Bruker Company 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.