Mengis Capital Management Inc. Sells 3,505 Shares of Bruker Co. (NASDAQ:BRKR)

Mengis Capital Management Inc. trimmed its holdings in Bruker Co. (NASDAQ:BRKR) by 5.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,035 shares of the medical research company’s stock after selling 3,505 shares during the quarter. Mengis Capital Management Inc.’s holdings in Bruker were worth $3,870,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Aptus Capital Advisors LLC lifted its position in Bruker by 15.8% during the 3rd quarter. Aptus Capital Advisors LLC now owns 40,522 shares of the medical research company’s stock worth $2,798,000 after buying an additional 5,523 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Bruker by 3.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 36,627 shares of the medical research company’s stock worth $2,529,000 after acquiring an additional 1,267 shares during the last quarter. Montanaro Asset Management Ltd lifted its position in shares of Bruker by 10.7% during the third quarter. Montanaro Asset Management Ltd now owns 446,500 shares of the medical research company’s stock worth $30,835,000 after purchasing an additional 43,200 shares in the last quarter. Atria Investments Inc grew its stake in shares of Bruker by 4.4% during the third quarter. Atria Investments Inc now owns 12,698 shares of the medical research company’s stock valued at $877,000 after purchasing an additional 538 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Bruker by 23.7% in the third quarter. Assetmark Inc. now owns 1,729 shares of the medical research company’s stock valued at $119,000 after purchasing an additional 331 shares in the last quarter. Institutional investors own 79.52% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BRKR shares. Barclays cut their price objective on shares of Bruker from $75.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. TD Cowen cut their price target on Bruker from $72.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Wolfe Research cut Bruker from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 30th. Citigroup cut their target price on Bruker from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company reduced their target price on Bruker from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.36.

Bruker Stock Performance

Shares of BRKR opened at $56.02 on Wednesday. The firm has a market cap of $8.49 billion, a P/E ratio of 26.93, a PEG ratio of 2.71 and a beta of 1.20. Bruker Co. has a twelve month low of $54.55 and a twelve month high of $94.86. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.73 and a current ratio of 1.66. The firm’s 50 day moving average price is $63.24 and its two-hundred day moving average price is $65.75.

Bruker (NASDAQ:BRKR) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.01). Bruker had a net margin of 9.41% and a return on equity of 21.52%. The company had revenue of $864.40 million during the quarter, compared to the consensus estimate of $866.46 million. During the same period in the prior year, the firm posted $0.74 earnings per share. The company’s revenue was up 16.4% compared to the same quarter last year. On average, analysts forecast that Bruker Co. will post 2.4 EPS for the current fiscal year.

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.