Bruker (NASDAQ:BRKR) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Bruker (NASDAQ:BRKR) issued its quarterly earnings results on Tuesday. The medical research company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.01), Briefing.com reports. The firm had revenue of $864.40 million during the quarter, compared to analysts’ expectations of $866.46 million. Bruker had a net margin of 11.29% and a return on equity of 24.92%. The firm’s revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 EPS. Bruker updated its FY 2024 guidance to 2.360-2.410 EPS and its FY24 guidance to $2.36-2.41 EPS.

Bruker Stock Up 2.6 %

BRKR traded up $1.51 during trading on Thursday, reaching $60.49. The company had a trading volume of 1,346,609 shares, compared to its average volume of 1,264,657. 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 has a 12 month low of $54.55 and a 12 month high of $94.86. The business’s fifty day moving average price is $63.97 and its 200 day moving average price is $66.51. The company has a market cap of $9.16 billion, a P/E ratio of 25.10, a PEG ratio of 2.32 and a beta of 1.20.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Barclays reduced their price target on shares of Bruker from $75.00 to $69.00 and set an “overweight” rating for the company in a research report on Wednesday. TD Cowen reduced their price objective on shares of Bruker from $72.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday. Wolfe Research downgraded shares of Bruker from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Citigroup lowered their price objective on shares of Bruker from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company lowered their price target on shares of Bruker from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $79.36.

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.