Envestnet Portfolio Solutions Inc. Cuts Stock Holdings in Bruker Corporation (NASDAQ:BRKR)

Envestnet Portfolio Solutions Inc. lowered its holdings in Bruker Corporation (NASDAQ:BRKR) by 70.6% in the 1st quarter, HoldingsChannel reports. The firm owned 5,181 shares of the medical research company’s stock after selling 12,436 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Bruker were worth $216,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Rakuten Securities Inc. purchased a new stake in shares of Bruker during the 1st quarter worth $167,000. Wealth Enhancement Advisory Services LLC grew its stake in Bruker by 81.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 29,826 shares of the medical research company’s stock valued at $1,245,000 after purchasing an additional 13,367 shares during the last quarter. Fifth Third Bancorp raised its holdings in Bruker by 54.2% in the first quarter. Fifth Third Bancorp now owns 1,109 shares of the medical research company’s stock worth $46,000 after purchasing an additional 390 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Bruker by 15.4% during the first quarter. Handelsbanken Fonder AB now owns 32,300 shares of the medical research company’s stock valued at $1,348,000 after buying an additional 4,300 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its position in shares of Bruker by 28.0% during the first quarter. Park Avenue Securities LLC now owns 9,469 shares of the medical research company’s stock valued at $395,000 after buying an additional 2,074 shares during the last quarter. Hedge funds and other institutional investors own 79.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. The Goldman Sachs Group reduced their price objective on shares of Bruker from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Wells Fargo & Company reduced their price target on Bruker from $75.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Barclays decreased their price objective on Bruker from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. UBS Group decreased their price target on Bruker from $57.00 to $45.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Finally, Citigroup downgraded shares of Bruker from a “strong-buy” rating to a “hold” rating and dropped their target price for the stock from $50.00 to $40.00 in a research report on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $52.89.

Bruker Trading Down 1.4%

Shares of NASDAQ:BRKR opened at $41.20 on Tuesday. The company has a market capitalization of $6.24 billion, a PE ratio of 79.23, a PEG ratio of 2.81 and a beta of 1.16. Bruker Corporation has a 12-month low of $34.10 and a 12-month high of $72.94. The business has a 50 day moving average of $38.62 and a two-hundred day moving average of $46.30. The company has a current ratio of 1.57, a quick ratio of 0.74 and a debt-to-equity ratio of 1.13.

Bruker (NASDAQ:BRKR) last issued its quarterly earnings results on Wednesday, May 7th. The medical research company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $801.40 million for the quarter, compared to the consensus estimate of $763.83 million. Bruker had a return on equity of 19.47% and a net margin of 2.31%. Bruker’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 earnings per share. As a group, analysts forecast that Bruker Corporation will post 2.69 EPS for the current year.

Bruker Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Monday, June 16th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, June 16th. Bruker’s payout ratio is currently 38.46%.

Insider Buying and Selling

In other news, CEO Frank H. Laukien purchased 2,608 shares of the company’s stock in a transaction dated Friday, June 6th. The stock was acquired at an average price of $38.36 per share, with a total value of $100,042.88. Following the purchase, the chief executive officer directly owned 38,462,171 shares in the company, valued at approximately $1,475,408,879.56. This represents a 0.01% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 27.30% of the stock is owned by company insiders.

Bruker Company Profile

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.