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

Bruker (NASDAQ:BRKR) had its price objective dropped by analysts at Citigroup from $80.00 to $75.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. Citigroup’s price target would suggest a potential upside of 24.56% from the stock’s previous close.

BRKR has been the subject of several other reports. Wells Fargo & Company reduced their target price on shares of Bruker from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday. TD Cowen cut their price target on shares of Bruker from $72.00 to $70.00 and set a “hold” rating on the stock in a report on Wednesday. Wolfe Research lowered shares of Bruker from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 30th. The Goldman Sachs Group decreased their target price on Bruker from $72.00 to $60.00 and set a “sell” rating for the company in a research report on Tuesday, July 9th. Finally, Barclays dropped their price target on Bruker from $75.00 to $69.00 and set an “overweight” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.36.

Bruker Stock Performance

Shares of NASDAQ BRKR traded down $1.13 during midday trading on Wednesday, reaching $60.21. 901,456 shares of the company traded hands, compared to its average volume of 1,066,455. The company has a market cap of $9.12 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 2.32 and a beta of 1.20. The stock has a 50-day moving average price of $64.08 and a 200 day moving average price of $66.56. Bruker has a 52 week low of $54.55 and a 52 week high of $94.86. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.65 and a quick ratio of 0.75.

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

Institutional Investors Weigh In On Bruker

Hedge funds have recently bought and sold shares of the company. Covestor Ltd increased its stake in shares of Bruker by 139.1% in the first quarter. Covestor Ltd now owns 361 shares of the medical research company’s stock worth $34,000 after purchasing an additional 210 shares during the period. First Horizon Advisors Inc. increased its position in Bruker by 120.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 399 shares of the medical research company’s stock worth $25,000 after buying an additional 218 shares during the period. UMB Bank n.a. lifted its holdings in shares of Bruker by 115.3% during the third quarter. UMB Bank n.a. now owns 661 shares of the medical research company’s stock worth $46,000 after buying an additional 354 shares during the last quarter. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Bruker in the second quarter valued at approximately $52,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Bruker by 40.7% in the first quarter. EverSource Wealth Advisors LLC now owns 858 shares of the medical research company’s stock worth $81,000 after acquiring an additional 248 shares during the last quarter. 79.52% of the stock is currently owned by 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.