Bruker (NASDAQ:BRKR) Hits New 12-Month Low After Earnings Miss

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

The medical research company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.01). Bruker had a net margin of 11.29% and a return on equity of 24.92%. The company had revenue of $864.40 million during the quarter, compared to the consensus estimate of $866.46 million. During the same quarter in the previous year, the company earned $0.74 earnings per share. The business’s revenue was up 16.4% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Barclays lowered their price objective on Bruker from $75.00 to $69.00 and set an “overweight” rating for the company in a research report on Wednesday. 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. TD Cowen cut their target price on shares of Bruker from $72.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday. Wolfe Research downgraded shares of Bruker from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company cut their price objective on shares of Bruker from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.36.

Hedge Funds Weigh In On Bruker

Hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its stake in Bruker by 20.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 991 shares of the medical research company’s stock valued at $63,000 after buying an additional 165 shares during the last quarter. Securian Asset Management Inc. grew its stake in Bruker by 2.3% in the 2nd quarter. Securian Asset Management Inc. now owns 7,766 shares of the medical research company’s stock valued at $496,000 after purchasing an additional 175 shares during the period. Covestor Ltd raised its stake in shares of 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 purchasing an additional 210 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of Bruker by 120.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 399 shares of the medical research company’s stock worth $25,000 after buying an additional 218 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its holdings in Bruker by 0.8% during the second quarter. Ameritas Investment Partners Inc. now owns 30,911 shares of the medical research company’s stock worth $1,972,000 after buying an additional 235 shares during the last quarter. 79.52% of the stock is owned by hedge funds and other institutional investors.

Bruker Trading Down 3.8 %

The stock’s 50 day simple moving average is $63.97 and its two-hundred day simple moving average is $66.51. The stock has a market capitalization of $8.93 billion, a PE ratio of 24.47, a PEG ratio of 2.32 and a beta of 1.20. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.65 and a quick ratio of 0.75.

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.