Bruker (NASDAQ:BRKR) Issues Earnings Results, Beats Expectations By $0.02 EPS

Bruker (NASDAQ:BRKR) released its earnings results on Thursday. The medical research company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02, Briefing.com reports. Bruker had a return on equity of 26.28% and a net margin of 9.53%. The business had revenue of $490.20 million for the quarter, compared to the consensus estimate of $477.70 million. During the same period last year, the business earned $0.25 earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. Bruker updated its FY 2019 guidance to $1.57-1.61 EPS and its FY19 guidance to $1.57-1.61 EPS.

Shares of NASDAQ BRKR traded down $5.07 during trading hours on Friday, hitting $41.57. 2,790,441 shares of the stock were exchanged, compared to its average volume of 768,429. The company has a current ratio of 2.12, a quick ratio of 1.27 and a debt-to-equity ratio of 0.42. The firm has a market cap of $7.50 billion, a P/E ratio of 29.69, a PEG ratio of 2.34 and a beta of 1.30. The firm has a fifty day moving average of $48.69. Bruker has a 1-year low of $26.10 and a 1-year high of $51.41.

BRKR has been the subject of a number of analyst reports. Leerink Swann raised shares of Bruker from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. BidaskClub lowered shares of Bruker from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 16th. BTIG Research increased their target price on shares of Bruker to $57.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Goldman Sachs Group upgraded shares of Bruker from a “sell” rating to a “neutral” rating and increased their target price for the stock from $32.00 to $48.00 in a research report on Monday, July 15th. Finally, Zacks Investment Research lowered shares of Bruker from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $48.18.

In related news, CEO Frank H. Laukien sold 400,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $41.48, for a total value of $16,592,000.00. Following the completion of the transaction, the chief executive officer now owns 37,991,030 shares of the company’s stock, valued at approximately $1,575,867,924.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Marc A. Kastner sold 1,374 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $41.79, for a total transaction of $57,419.46. Following the completion of the transaction, the director now directly owns 10,811 shares of the company’s stock, valued at approximately $451,791.69. The disclosure for this sale can be found here. Insiders have sold a total of 801,374 shares of company stock worth $33,241,419 in the last quarter. 26.50% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Deutsche Bank AG lifted its position in shares of Bruker by 94.0% during the fourth quarter. Deutsche Bank AG now owns 578,945 shares of the medical research company’s stock valued at $17,232,000 after purchasing an additional 280,533 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Bruker by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,013,763 shares of the medical research company’s stock worth $30,178,000 after buying an additional 46,244 shares during the period. Scout Investments Inc. raised its stake in Bruker by 61.6% in the 2nd quarter. Scout Investments Inc. now owns 284,003 shares of the medical research company’s stock valued at $14,186,000 after purchasing an additional 108,215 shares during the last quarter. WCM Investment Management LLC acquired a new position in Bruker in the 1st quarter valued at $1,624,000. Finally, Northern Trust Corp raised its stake in Bruker by 14.3% in the 4th quarter. Northern Trust Corp now owns 633,484 shares of the medical research company’s stock valued at $18,859,000 after purchasing an additional 79,482 shares during the last quarter. 66.92% of the stock is owned by institutional investors and hedge funds.

About Bruker

Bruker Corporation manufactures and distributes scientific instruments, and analytical and diagnostic solutions in the United States, Europe, the Asia Pacific, and internationally. The company operates in two segments, Bruker Scientific Instruments, and Bruker Energy & Supercon Technologies. It offers life science tools based on magnetic resonance technology; life science mass spectrometry and ion mobility spectrometry solutions; infrared spectroscopy and radiological/nuclear detectors for chemical, biological, radiological, nuclear, and explosive detection in emergency response, homeland security, and defense applications; and research, analytical, and process analysis instruments and solutions based on infrared and Raman molecular spectroscopy technologies.

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Earnings History for Bruker (NASDAQ:BRKR)

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