Intrinsic value of Bruker - BRKR

Previous Close

$33.88

  Intrinsic Value

$25.54

stock screener

  Rating & Target

sell

-25%

Previous close

$33.88

 
Intrinsic value

$25.54

 
Up/down potential

-25%

 
Rating

sell

We calculate the intrinsic value of BRKR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 5.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  9.60
  9.14
  8.73
  8.35
  8.02
  7.72
  7.44
  7.20
  6.98
  6.78
  6.60
  6.44
  6.30
  6.17
  6.05
  5.95
  5.85
  5.77
  5.69
  5.62
  5.56
  5.50
  5.45
  5.41
  5.37
  5.33
  5.30
  5.27
  5.24
  5.22
Revenue, $m
  1,936
  2,112
  2,297
  2,489
  2,688
  2,896
  3,111
  3,335
  3,568
  3,810
  4,062
  4,323
  4,596
  4,879
  5,174
  5,482
  5,803
  6,138
  6,487
  6,852
  7,232
  7,630
  8,047
  8,482
  8,937
  9,413
  9,912
  10,434
  10,981
  11,554
Variable operating expenses, $m
  1,465
  1,596
  1,733
  1,876
  2,024
  2,179
  2,339
  2,506
  2,679
  2,859
  3,021
  3,215
  3,418
  3,629
  3,848
  4,077
  4,316
  4,565
  4,825
  5,096
  5,379
  5,675
  5,984
  6,308
  6,647
  7,001
  7,372
  7,760
  8,167
  8,593
Fixed operating expenses, $m
  223
  228
  233
  238
  243
  248
  254
  259
  265
  271
  277
  283
  289
  296
  302
  309
  316
  323
  330
  337
  344
  352
  360
  368
  376
  384
  392
  401
  410
  419
Total operating expenses, $m
  1,688
  1,824
  1,966
  2,114
  2,267
  2,427
  2,593
  2,765
  2,944
  3,130
  3,298
  3,498
  3,707
  3,925
  4,150
  4,386
  4,632
  4,888
  5,155
  5,433
  5,723
  6,027
  6,344
  6,676
  7,023
  7,385
  7,764
  8,161
  8,577
  9,012
Operating income, $m
  248
  288
  331
  375
  421
  468
  518
  570
  624
  680
  764
  825
  888
  955
  1,024
  1,096
  1,172
  1,250
  1,333
  1,419
  1,509
  1,604
  1,702
  1,806
  1,915
  2,028
  2,148
  2,273
  2,404
  2,542
EBITDA, $m
  326
  371
  418
  467
  519
  572
  628
  686
  746
  809
  874
  942
  1,013
  1,087
  1,164
  1,245
  1,329
  1,417
  1,509
  1,605
  1,705
  1,810
  1,921
  2,036
  2,157
  2,284
  2,416
  2,556
  2,702
  2,855
Interest expense (income), $m
  13
  22
  29
  35
  42
  49
  57
  65
  73
  81
  90
  99
  108
  118
  128
  138
  149
  161
  173
  185
  198
  212
  226
  241
  256
  272
  289
  307
  326
  345
  365
Earnings before tax, $m
  226
  260
  295
  332
  371
  412
  454
  497
  543
  591
  665
  717
  771
  827
  886
  947
  1,011
  1,078
  1,148
  1,221
  1,297
  1,378
  1,462
  1,550
  1,642
  1,739
  1,841
  1,947
  2,059
  2,177
Tax expense, $m
  61
  70
  80
  90
  100
  111
  122
  134
  147
  159
  180
  194
  208
  223
  239
  256
  273
  291
  310
  330
  350
  372
  395
  418
  443
  470
  497
  526
  556
  588
Net income, $m
  165
  190
  216
  243
  271
  300
  331
  363
  396
  431
  486
  523
  563
  604
  646
  691
  738
  787
  838
  891
  947
  1,006
  1,067
  1,131
  1,199
  1,270
  1,344
  1,422
  1,503
  1,589

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,136
  2,332
  2,535
  2,747
  2,967
  3,196
  3,434
  3,681
  3,938
  4,205
  4,483
  4,772
  5,072
  5,385
  5,711
  6,051
  6,405
  6,774
  7,160
  7,562
  7,983
  8,422
  8,881
  9,362
  9,864
  10,390
  10,940
  11,517
  12,120
  12,752
Adjusted assets (=assets-cash), $m
  2,136
  2,332
  2,535
  2,747
  2,967
  3,196
  3,434
  3,681
  3,938
  4,205
  4,483
  4,772
  5,072
  5,385
  5,711
  6,051
  6,405
  6,774
  7,160
  7,562
  7,983
  8,422
  8,881
  9,362
  9,864
  10,390
  10,940
  11,517
  12,120
  12,752
Revenue / Adjusted assets
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
Average production assets, $m
  525
  572
  622
  674
  728
  785
  843
  904
  967
  1,032
  1,101
  1,172
  1,245
  1,322
  1,402
  1,486
  1,573
  1,663
  1,758
  1,857
  1,960
  2,068
  2,181
  2,299
  2,422
  2,551
  2,686
  2,828
  2,976
  3,131
Working capital, $m
  434
  473
  514
  557
  602
  649
  697
  747
  799
  853
  910
  968
  1,029
  1,093
  1,159
  1,228
  1,300
  1,375
  1,453
  1,535
  1,620
  1,709
  1,802
  1,900
  2,002
  2,109
  2,220
  2,337
  2,460
  2,588
Total debt, $m
  534
  656
  783
  915
  1,053
  1,195
  1,344
  1,498
  1,659
  1,825
  1,998
  2,179
  2,366
  2,562
  2,765
  2,977
  3,198
  3,428
  3,669
  3,920
  4,182
  4,457
  4,743
  5,043
  5,356
  5,684
  6,028
  6,387
  6,764
  7,159
Total liabilities, $m
  1,333
  1,455
  1,582
  1,714
  1,851
  1,994
  2,143
  2,297
  2,457
  2,624
  2,797
  2,978
  3,165
  3,360
  3,564
  3,776
  3,997
  4,227
  4,468
  4,719
  4,981
  5,255
  5,542
  5,842
  6,155
  6,483
  6,827
  7,186
  7,563
  7,958
Total equity, $m
  803
  877
  953
  1,033
  1,116
  1,202
  1,291
  1,384
  1,481
  1,581
  1,686
  1,794
  1,907
  2,025
  2,147
  2,275
  2,408
  2,547
  2,692
  2,843
  3,002
  3,167
  3,339
  3,520
  3,709
  3,907
  4,114
  4,330
  4,557
  4,795
Total liabilities and equity, $m
  2,136
  2,332
  2,535
  2,747
  2,967
  3,196
  3,434
  3,681
  3,938
  4,205
  4,483
  4,772
  5,072
  5,385
  5,711
  6,051
  6,405
  6,774
  7,160
  7,562
  7,983
  8,422
  8,881
  9,362
  9,864
  10,390
  10,941
  11,516
  12,120
  12,753
Debt-to-equity ratio
  0.670
  0.750
  0.820
  0.890
  0.940
  0.990
  1.040
  1.080
  1.120
  1.150
  1.190
  1.210
  1.240
  1.270
  1.290
  1.310
  1.330
  1.350
  1.360
  1.380
  1.390
  1.410
  1.420
  1.430
  1.440
  1.460
  1.470
  1.480
  1.480
  1.490
Adjusted equity ratio
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  165
  190
  216
  243
  271
  300
  331
  363
  396
  431
  486
  523
  563
  604
  646
  691
  738
  787
  838
  891
  947
  1,006
  1,067
  1,131
  1,199
  1,270
  1,344
  1,422
  1,503
  1,589
Depreciation, amort., depletion, $m
  78
  82
  87
  93
  98
  104
  110
  116
  122
  128
  110
  117
  125
  132
  140
  149
  157
  166
  176
  186
  196
  207
  218
  230
  242
  255
  269
  283
  298
  313
Funds from operations, $m
  242
  272
  303
  335
  369
  404
  441
  479
  518
  560
  596
  641
  687
  736
  787
  840
  895
  953
  1,014
  1,077
  1,143
  1,213
  1,285
  1,361
  1,441
  1,525
  1,612
  1,704
  1,801
  1,902
Change in working capital, $m
  38
  40
  41
  43
  45
  46
  48
  50
  52
  54
  56
  59
  61
  64
  66
  69
  72
  75
  78
  82
  85
  89
  93
  97
  102
  107
  112
  117
  122
  128
Cash from operations, $m
  204
  232
  262
  292
  324
  358
  392
  429
  466
  505
  539
  582
  626
  672
  721
  771
  823
  878
  935
  995
  1,058
  1,123
  1,192
  1,264
  1,339
  1,418
  1,501
  1,587
  1,678
  1,774
Maintenance CAPEX, $m
  -48
  -52
  -57
  -62
  -67
  -73
  -78
  -84
  -90
  -97
  -103
  -110
  -117
  -125
  -132
  -140
  -149
  -157
  -166
  -176
  -186
  -196
  -207
  -218
  -230
  -242
  -255
  -269
  -283
  -298
New CAPEX, $m
  -45
  -48
  -50
  -52
  -54
  -56
  -58
  -61
  -63
  -66
  -68
  -71
  -74
  -77
  -80
  -83
  -87
  -91
  -95
  -99
  -103
  -108
  -113
  -118
  -123
  -129
  -135
  -141
  -148
  -155
Cash from investing activities, $m
  -93
  -100
  -107
  -114
  -121
  -129
  -136
  -145
  -153
  -163
  -171
  -181
  -191
  -202
  -212
  -223
  -236
  -248
  -261
  -275
  -289
  -304
  -320
  -336
  -353
  -371
  -390
  -410
  -431
  -453
Free cash flow, $m
  111
  132
  154
  178
  203
  229
  256
  284
  313
  343
  368
  401
  435
  471
  508
  547
  588
  630
  674
  721
  769
  820
  872
  928
  986
  1,047
  1,111
  1,177
  1,247
  1,321
Issuance/(repayment) of debt, $m
  119
  122
  127
  132
  137
  143
  148
  154
  160
  167
  173
  180
  188
  195
  203
  212
  221
  230
  241
  251
  262
  274
  287
  300
  314
  328
  343
  360
  377
  395
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  119
  122
  127
  132
  137
  143
  148
  154
  160
  167
  173
  180
  188
  195
  203
  212
  221
  230
  241
  251
  262
  274
  287
  300
  314
  328
  343
  360
  377
  395
Total cash flow (excl. dividends), $m
  230
  254
  281
  310
  340
  371
  404
  438
  473
  510
  541
  581
  623
  666
  712
  759
  809
  861
  915
  972
  1,031
  1,094
  1,159
  1,228
  1,299
  1,375
  1,454
  1,537
  1,624
  1,716
Retained Cash Flow (-), $m
  -69
  -73
  -76
  -80
  -83
  -86
  -89
  -93
  -97
  -100
  -104
  -109
  -113
  -118
  -123
  -128
  -133
  -139
  -145
  -151
  -158
  -165
  -173
  -181
  -189
  -198
  -207
  -217
  -227
  -238
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  11
  12
  13
  14
  15
  16
  17
  19
  20
  21
  23
  24
  26
  28
  29
  31
  33
  35
  37
  39
  41
  43
  46
  48
  51
  54
  56
  59
  63
  66
Cash available for distribution, $m
  160
  180
  205
  231
  257
  285
  315
  345
  376
  409
  437
  473
  510
  549
  589
  631
  676
  722
  770
  820
  873
  928
  986
  1,047
  1,111
  1,177
  1,247
  1,320
  1,397
  1,478
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  154
  165
  178
  190
  200
  207
  212
  216
  216
  215
  207
  202
  194
  184
  173
  160
  147
  133
  119
  104
  90
  77
  65
  53
  43
  34
  27
  20
  15
  11
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Bruker Corporation designs and manufactures scientific instruments, and analytical and diagnostic solutions. Its segments include the Bruker BioSpin Group; the Bruker Chemicals, Applied Markets, Life Science, In-Vitro Diagnostics, Detection (CALID) Group; the Bruker Nano Group, and the Bruker Energy & Supercon Technologies (BEST) Segment. The Bruker BioSpin Group segment designs, manufactures and distributes enabling life science tools. The Bruker CALID segment designs, manufactures and distributes life science mass spectrometry instruments that can be integrated and used along with other sample preparation or chromatography instruments, as well as chemical, biological, radiological, nuclear and explosive detection products. The Bruker Nano segment designs, manufactures and distributes spectroscopy and microscopy instruments. The BEST segment develops and manufactures superconducting and non-superconducting materials and devices. It also focuses on nanomechanical testing instruments.

FINANCIAL RATIOS  of  Bruker (BRKR)

Valuation Ratios
P/E Ratio 35.2
Price to Sales 3.4
Price to Book 7.9
Price to Tangible Book
Price to Cash Flow 41.3
Price to Free Cash Flow 57.6
Growth Rates
Sales Growth Rate -0.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 8.8%
Cap. Spend. - 3 Yr. Gr. Rate -5.8%
Financial Strength
Quick Ratio 25
Current Ratio 0.2
LT Debt to Equity 57.1%
Total Debt to Equity 60.1%
Interest Coverage 15
Management Effectiveness
Return On Assets 9.3%
Ret/ On Assets - 3 Yr. Avg. 6.3%
Return On Total Capital 14.7%
Ret/ On T. Cap. - 3 Yr. Avg. 9.8%
Return On Equity 21.8%
Return On Equity - 3 Yr. Avg. 14.2%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 46.1%
Gross Margin - 3 Yr. Avg. 44%
EBITDA Margin 15.2%
EBITDA Margin - 3 Yr. Avg. 12.2%
Operating Margin 11.5%
Oper. Margin - 3 Yr. Avg. 8.8%
Pre-Tax Margin 11%
Pre-Tax Margin - 3 Yr. Avg. 8.2%
Net Profit Margin 9.6%
Net Profit Margin - 3 Yr. Avg. 6.3%
Effective Tax Rate 12.9%
Eff/ Tax Rate - 3 Yr. Avg. 23.8%
Payout Ratio 16.9%

BRKR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the BRKR stock intrinsic value calculation we used $1766 million for the last fiscal year's total revenue generated by Bruker. The default revenue input number comes from 2017 income statement of Bruker. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our BRKR stock valuation model: a) initial revenue growth rate of 9.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for BRKR is calculated based on our internal credit rating of Bruker, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Bruker.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of BRKR stock the variable cost ratio is equal to 75.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $218 million in the base year in the intrinsic value calculation for BRKR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Bruker.

Corporate tax rate of 27% is the nominal tax rate for Bruker. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the BRKR stock is equal to 0.6%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for BRKR are equal to 27.1%.

Life of production assets of 10 years is the average useful life of capital assets used in Bruker operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for BRKR is equal to 22.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $734 million for Bruker - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 158 million for Bruker is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Bruker at the current share price and the inputted number of shares is $5.4 billion.

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COMPANY NEWS

▶ Bruker Announces Quarterly Dividend   [04:05PM  PR Newswire]
▶ Bruker: 2Q Earnings Snapshot   [Aug-02-18 06:44PM  Associated Press]
▶ Bruker Announces Acquisition of JPK Instruments   [Jul-12-18 04:05PM  PR Newswire]
▶ Is Bruker Corporations (NASDAQ:BRKR) Liquidity Good Enough?   [Jun-21-18 02:52PM  Simply Wall St.]
▶ Bruker Corporation to Present at Investor Conferences   [Jun-04-18 04:10PM  PR Newswire]
▶ Bruker Announces Quarterly Dividend   [May-14-18 07:00AM  PR Newswire]
▶ Bruker: 1Q Earnings Snapshot   [May-03-18 04:48PM  Associated Press]
▶ Bruker Introduces Contour LS-K 3D Optical Profiler   [Apr-24-18 03:00AM  PR Newswire]
▶ Bruker Acquires nanoIR Company Anasys Instruments   [Apr-17-18 04:15PM  PR Newswire]
▶ Bruker Launches New FT-IR R&D Spectrometer INVENIO   [Apr-10-18 04:00AM  PR Newswire]
▶ Bruker Announces Quarterly Dividend   [Feb-20-18 07:00AM  PR Newswire]
▶ Bruker reports 4Q loss   [Feb-08-18 04:59PM  Associated Press]
▶ What Are Accelerate Diagnostics Key Strengths?   [Jan-15-18 09:02AM  Market Realist]
▶ Whats the Competitive Landscape for Accelerate Diagnostics?   [Jan-12-18 12:20PM  Market Realist]
▶ ETFs with exposure to Bruker Corp. : December 19, 2017   [Dec-19-17 12:23PM  Capital Cube]
▶ ETFs with exposure to Bruker Corp. : December 8, 2017   [Dec-08-17 12:27PM  Capital Cube]
▶ 5 Strong Buy Stocks Gaining Momentum   [Nov-28-17 04:31PM  Zacks]
▶ Bruker Announces Quarterly Dividend   [07:00AM  PR Newswire]
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