Wells Fargo & Company Has Lowered Expectations for Bruker (NASDAQ:BRKR) Stock Price

Bruker (NASDAQ:BRKR) had its price target reduced by research analysts at Wells Fargo & Company from $78.00 to $75.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the medical research company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 23.99% from the company’s previous close.

A number of other brokerages also recently issued reports on BRKR. Wolfe Research downgraded shares of Bruker from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. Barclays cut their price target on shares of Bruker from $75.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday. TD Cowen decreased their price objective on Bruker from $74.00 to $72.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. The Goldman Sachs Group dropped their target price on Bruker from $72.00 to $60.00 and set a “sell” rating on the stock in a research note on Tuesday, July 9th. Finally, Citigroup decreased their price target on Bruker from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Bruker has a consensus rating of “Moderate Buy” and an average target price of $79.36.

Bruker Stock Performance

Shares of NASDAQ:BRKR opened at $60.49 on Wednesday. The firm has a 50 day moving average of $63.83 and a 200 day moving average of $66.47. The company has a quick ratio of 0.75, a current ratio of 1.65 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $9.16 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. Bruker has a 52 week low of $54.55 and a 52 week high of $94.86.

Bruker (NASDAQ:BRKR) last released its quarterly earnings results 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 return on equity of 24.92% and a net margin of 11.29%. 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 previous year, the firm posted $0.74 earnings per share. The company’s revenue was up 16.4% on a year-over-year basis. On average, sell-side analysts predict that Bruker will post 2.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bruker

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Covestor Ltd boosted 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 buying an additional 210 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in Bruker by 120.4% in the second quarter. First Horizon Advisors Inc. now owns 399 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 218 shares during the period. UMB Bank n.a. boosted its position in Bruker by 115.3% in the 3rd quarter. UMB Bank n.a. now owns 661 shares of the medical research company’s stock worth $46,000 after purchasing an additional 354 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Bruker during the 2nd quarter worth approximately $52,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Bruker by 40.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 858 shares of the medical research company’s stock valued at $81,000 after purchasing an additional 248 shares in the last quarter. 79.52% of the stock is owned by institutional investors and hedge funds.

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.