TD Cowen Has Lowered Expectations for Bruker (NASDAQ:BRKR) Stock Price

Bruker (NASDAQ:BRKR) had its price target lowered by TD Cowen from $72.00 to $70.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the medical research company’s stock. TD Cowen’s target price indicates a potential upside of 17.33% from the company’s current price.

A number of other research analysts have also weighed in on BRKR. Citigroup dropped their price objective on Bruker from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Wells Fargo & Company lowered their target price on Bruker from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday. Wolfe Research lowered Bruker from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Barclays lowered their target price on Bruker from $75.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, The Goldman Sachs Group lowered their target price on Bruker from $72.00 to $60.00 and set a “sell” rating on the stock in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Bruker has a consensus rating of “Moderate Buy” and a consensus target price of $79.82.

Bruker Stock Performance

Shares of Bruker stock traded down $1.68 during trading hours on Wednesday, hitting $59.66. 758,867 shares of the company were exchanged, compared to its average volume of 1,065,792. The business has a 50-day moving average of $64.08 and a 200-day moving average of $66.56. Bruker has a 1 year low of $54.55 and a 1 year high of $94.86. The stock has a market capitalization of $9.03 billion, a price-to-earnings ratio of 24.68, a P/E/G ratio of 2.32 and a beta of 1.20. The company has a current ratio of 1.65, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18.

Bruker (NASDAQ:BRKR) last announced its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). Bruker had a return on equity of 24.92% and a net margin of 11.29%. The business had revenue of $864.40 million for the quarter, compared to analyst estimates of $866.46 million. During the same period in the prior year, the company earned $0.74 EPS. The company’s revenue was up 16.4% on a year-over-year basis. As a group, analysts expect that Bruker will post 2.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Bruker

Large investors have recently added to or reduced their stakes in the business. TD Asset Management Inc raised its holdings in shares of Bruker by 7.4% in the 1st quarter. TD Asset Management Inc now owns 1,788,763 shares of the medical research company’s stock worth $168,036,000 after purchasing an additional 123,984 shares during the period. Atria Investments Inc purchased a new position in shares of Bruker in the 1st quarter worth about $1,142,000. Point72 Asset Management L.P. purchased a new position in shares of Bruker in the 2nd quarter worth about $36,472,000. Epoch Investment Partners Inc. raised its holdings in shares of Bruker by 15.2% in the 1st quarter. Epoch Investment Partners Inc. now owns 466,865 shares of the medical research company’s stock worth $43,857,000 after purchasing an additional 61,429 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Bruker by 1,694.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 202,733 shares of the medical research company’s stock worth $12,936,000 after purchasing an additional 191,435 shares during the period. 79.52% of the stock is currently owned by hedge funds and other institutional investors.

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.