Mackenzie Financial Corp Sells 62,183 Shares of Bruker Co. (NASDAQ:BRKR)

Mackenzie Financial Corp lowered its stake in Bruker Co. (NASDAQ:BRKRGet Rating) by 75.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,602 shares of the medical research company’s stock after selling 62,183 shares during the period. Mackenzie Financial Corp’s holdings in Bruker were worth $1,293,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of BRKR. Principal Financial Group Inc. grew its position in shares of Bruker by 14.0% during the 2nd quarter. Principal Financial Group Inc. now owns 398,238 shares of the medical research company’s stock worth $24,993,000 after buying an additional 48,930 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Bruker by 56.7% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,317 shares of the medical research company’s stock valued at $396,000 after acquiring an additional 2,285 shares during the last quarter. Pictet Asset Management SA raised its position in shares of Bruker by 17.2% during the 2nd quarter. Pictet Asset Management SA now owns 485,237 shares of the medical research company’s stock valued at $30,453,000 after acquiring an additional 71,137 shares during the last quarter. Duality Advisers LP acquired a new position in shares of Bruker in the 2nd quarter valued at $209,000. Finally, Walleye Capital LLC acquired a new stake in shares of Bruker during the second quarter worth $1,054,000. 69.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BRKR shares. Cowen cut their target price on Bruker to $75.00 in a research note on Wednesday, November 16th. Citigroup raised shares of Bruker from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $70.00 to $80.00 in a research note on Monday, August 22nd. TheStreet raised shares of Bruker from a “c+” rating to a “b-” rating in a research note on Friday, November 4th. StockNews.com raised shares of Bruker from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 7th. Finally, UBS Group assumed coverage on shares of Bruker in a research report on Friday, October 21st. They issued a “buy” rating and a $70.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $74.00.

Bruker Stock Performance

Shares of BRKR stock opened at $68.44 on Thursday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 2.36. Bruker Co. has a 52 week low of $48.42 and a 52 week high of $87.22. The company’s 50 day moving average price is $59.17 and its two-hundred day moving average price is $60.69. The company has a market capitalization of $10.07 billion, a P/E ratio of 37.40, a price-to-earnings-growth ratio of 1.67 and a beta of 1.21.

Bruker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Thursday, December 1st will be given a $0.05 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $0.20 annualized dividend and a yield of 0.29%. Bruker’s dividend payout ratio is currently 10.93%.

Bruker Profile

(Get Rating)

Bruker Corp. engages in the development, manufacture, and distribution of scientific instruments, and analytical and diagnostic solutions that enable customers to explore life and materials at microscopic, molecular, and cellular levels. It operates through the following segments: Bruker Scientific Instruments (BSI) Life Science, BSI Nano, and Bruker Energy and Supercon Technologies (BEST).

See Also

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Institutional Ownership by Quarter for Bruker (NASDAQ:BRKR)

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