Palisade Capital Management LLC NJ boosted its position in Bruker Corporation (NASDAQ:BRKR) by 11.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 563,496 shares of the medical research companys stock after buying an additional 59,862 shares during the period. Palisade Capital Management LLC NJ owned approximately 0.36% of Bruker Corporation worth $16,764,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Alps Advisors Inc. increased its position in Bruker Corporation by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 20,154 shares of the medical research companys stock valued at $581,000 after buying an additional 52 shares in the last quarter. Utah Retirement Systems increased its position in Bruker Corporation by 1.1% in the 2nd quarter. Utah Retirement Systems now owns 19,189 shares of the medical research companys stock valued at $553,000 after buying an additional 200 shares in the last quarter. Federated Investors Inc. PA increased its position in Bruker Corporation by 0.3% in the 2nd quarter. Federated Investors Inc. PA now owns 60,553 shares of the medical research companys stock valued at $1,746,000 after buying an additional 204 shares in the last quarter. Tudor Investment Corp ET AL increased its position in Bruker Corporation by 1.5% in the 2nd quarter. Tudor Investment Corp ET AL now owns 15,980 shares of the medical research companys stock valued at $461,000 after buying an additional 242 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in Bruker Corporation by 0.7% in the 1st quarter. Public Employees Retirement System of Ohio now owns 48,267 shares of the medical research companys stock valued at $1,126,000 after buying an additional 312 shares in the last quarter. 65.74% of the stock is owned by institutional investors and hedge funds.
Bruker Corporation (NASDAQ:BRKR) last issued its earnings results on Thursday, November 2nd. The medical research company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters consensus estimate of $0.27 by $0.02. Bruker Corporation had a net margin of 8.85% and a return on equity of 25.93%. The company had revenue of $435.60 million for the quarter, compared to analysts expectations of $415.45 million. During the same quarter last year, the company posted $0.32 earnings per share. The firms quarterly revenue was up 10.6% on a year-over-year basis.
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A number of analysts recently commented on the company. Bank of America Corporation raised Bruker Corporation from an underperform rating to a neutral rating in a research report on Friday. BidaskClub downgraded Bruker Corporation from a buy rating to a hold rating in a research note on Wednesday, August 9th. Cowen and Company reiterated a hold rating and set a $29.00 price target on shares of Bruker Corporation in a research note on Friday, July 14th. J P Morgan Chase & Co upgraded Bruker Corporation from an underweight rating to a neutral rating and set a $20.00 price target for the company in a research note on Friday. Finally, Barclays PLC reiterated an equal weight rating and set a $30.00 price target (up previously from $26.00) on shares of Bruker Corporation in a research note on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the companys stock. Bruker Corporation currently has a consensus rating of Hold and an average price target of $26.70.
In related news, VP Mark Munch sold 21,061 shares of the firms stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $29.97, for a total value of $631,198.17. Following the sale, the vice president now owns 60,524 shares in the company, valued at $1,813,904.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frank H. Laukien bought 2,335 shares of the companys stock in a transaction that occurred on Thursday, August 10th. The stock was bought at an average price of $27.39 per share, for a total transaction of $63,955.65. Following the acquisition, the chief executive officer now directly owns 37,791,386 shares of the companys stock, valued at approximately $1,035,106,062.54. The disclosure for this purchase can be found here. Company insiders own 35.20% of the companys stock.
Bruker Corporation designs and manufactures scientific instruments, and analytical and diagnostic solutions. Its segments include the Bruker BioSpin Group; the Bruker Chemicals, Applied Markets, Life Science, In-Vitro Diagnostics, Detection (CALID) Group; the Bruker Nano Group, and the Bruker Energy & Supercon Technologies (BEST) Segment.
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