Citigroup Inc. Sells 14,946 Shares of Bruker Co. (NASDAQ:BRKR)

Posted by MarketBeat News on May 24th, 2023

Citigroup Inc. reduced its stake in Bruker Co. (NASDAQ:BRKR – Get Rating) by 26.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,562 shares of the medical research company’s stock after selling 14,946 shares during the period. Citigroup Inc.’s holdings in Bruker were worth $2,772,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Zions Bancorporation N.A. bought a new stake in Bruker in the 1st quarter valued at $26,000. Belpointe Asset Management LLC bought a new stake in shares of Bruker in the 4th quarter worth about $28,000. Neo Ivy Capital Management bought a new stake in shares of Bruker in the 3rd quarter worth about $57,000. Covestor Ltd increased its holdings in shares of Bruker by 165.8% in the 1st quarter. Covestor Ltd now owns 1,321 shares of the medical research company’s stock worth $85,000 after buying an additional 824 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Bruker by 51.2% in the 4th quarter. CWM LLC now owns 1,350 shares of the medical research company’s stock worth $92,000 after buying an additional 457 shares during the last quarter. 70.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bruker

In other Bruker news, CEO Frank H. Laukien sold 148,230 shares of the business’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $81.02, for a total value of $12,009,594.60. Following the completion of the sale, the chief executive officer now directly owns 38,349,926 shares of the company’s stock, valued at approximately $3,107,111,004.52. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Bruker news, CEO Frank H. Laukien sold 148,230 shares of the business’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $81.02, for a total value of $12,009,594.60. Following the completion of the sale, the chief executive officer now directly owns 38,349,926 shares of the company’s stock, valued at approximately $3,107,111,004.52. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Frank H. Laukien sold 82,795 shares of the business’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $78.75, for a total transaction of $6,520,106.25. Following the completion of the sale, the chief executive officer now directly owns 38,262,287 shares of the company’s stock, valued at $3,013,155,101.25. The disclosure for this sale can be found here. Insiders sold a total of 336,478 shares of company stock valued at $26,690,354 in the last three months. Company insiders own 27.60% of the company’s stock.

Analysts Set New Price Targets

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BRKR has been the topic of a number of research reports. The Goldman Sachs Group boosted their target price on shares of Bruker from $63.00 to $70.00 and gave the stock a “sell” rating in a report on Wednesday, April 19th. StockNews.com initiated coverage on shares of Bruker in a report on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Citigroup boosted their target price on shares of Bruker from $90.00 to $95.00 in a report on Friday, May 5th. Finally, UBS Group boosted their target price on shares of Bruker from $92.00 to $98.00 in a report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.50.

Bruker Stock Performance

Shares of NASDAQ:BRKR opened at $73.12 on Wednesday. The company has a market capitalization of $10.73 billion, a price-to-earnings ratio of 34.82, a PEG ratio of 1.61 and a beta of 1.15. Bruker Co. has a 12 month low of $48.42 and a 12 month high of $84.84. The firm’s 50-day moving average is $77.50 and its 200 day moving average is $72.25. The company has a current ratio of 2.03, a quick ratio of 1.22 and a debt-to-equity ratio of 0.93.

Bruker (NASDAQ:BRKR – Get Rating) last issued its quarterly earnings results on Thursday, May 4th. The medical research company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.55 by $0.09. The company had revenue of $685.30 million for the quarter, compared to the consensus estimate of $639.63 million. Bruker had a net margin of 11.89% and a return on equity of 34.71%. The firm’s revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 EPS. Research analysts predict that Bruker Co. will post 2.58 EPS for the current year.

Bruker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Thursday, June 1st will be given a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $0.20 annualized dividend and a yield of 0.27%. Bruker’s dividend payout ratio (DPR) is 9.52%.

Bruker Company Profile

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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) BioSpin, BSI Chemicals, Applied Markets, Life Science, In-Vitro Diagnostics, Detection (CALID), BSI Nano, and Bruker Energy and Supercon Technologies (BEST).