Intrinsic value of Bruker - BRKR

Previous Close

$32.16

  Intrinsic Value

$22.03

stock screener

  Rating & Target

sell

-32%

Previous close

$32.16

 
Intrinsic value

$22.03

 
Up/down potential

-32%

 
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 0001), $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 5.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  6.90
  6.71
  6.54
  6.39
  6.25
  6.12
  6.01
  5.91
  5.82
  5.74
  5.66
  5.60
  5.54
  5.48
  5.43
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
  5.11
  5.10
  5.09
Revenue, $m
  1,888
  2,014
  2,146
  2,283
  2,426
  2,574
  2,729
  2,890
  3,058
  3,234
  3,417
  3,608
  3,808
  4,017
  4,235
  4,463
  4,702
  4,952
  5,214
  5,488
  5,775
  6,076
  6,391
  6,721
  7,068
  7,431
  7,811
  8,211
  8,629
  9,068
Variable operating expenses, $m
  1,427
  1,520
  1,618
  1,719
  1,824
  1,934
  2,048
  2,167
  2,292
  2,421
  2,524
  2,665
  2,813
  2,967
  3,128
  3,297
  3,474
  3,658
  3,852
  4,054
  4,266
  4,488
  4,721
  4,965
  5,221
  5,489
  5,770
  6,065
  6,374
  6,699
Fixed operating expenses, $m
  224
  229
  234
  239
  244
  250
  255
  261
  266
  272
  278
  284
  291
  297
  304
  310
  317
  324
  331
  338
  346
  353
  361
  369
  377
  386
  394
  403
  412
  421
Total operating expenses, $m
  1,651
  1,749
  1,852
  1,958
  2,068
  2,184
  2,303
  2,428
  2,558
  2,693
  2,802
  2,949
  3,104
  3,264
  3,432
  3,607
  3,791
  3,982
  4,183
  4,392
  4,612
  4,841
  5,082
  5,334
  5,598
  5,875
  6,164
  6,468
  6,786
  7,120
Operating income, $m
  237
  265
  295
  325
  357
  391
  426
  462
  500
  540
  615
  658
  704
  753
  803
  856
  912
  970
  1,031
  1,096
  1,163
  1,234
  1,309
  1,387
  1,469
  1,556
  1,647
  1,743
  1,843
  1,949
EBITDA, $m
  320
  352
  385
  419
  455
  492
  531
  572
  615
  659
  706
  755
  806
  860
  917
  976
  1,038
  1,103
  1,171
  1,243
  1,318
  1,397
  1,480
  1,567
  1,659
  1,755
  1,856
  1,963
  2,074
  2,192
Interest expense (income), $m
  13
  22
  27
  32
  37
  42
  47
  53
  59
  65
  71
  77
  84
  91
  99
  107
  115
  123
  132
  142
  152
  162
  173
  184
  196
  208
  221
  235
  249
  264
  279
Earnings before tax, $m
  215
  238
  263
  289
  316
  344
  373
  404
  436
  470
  537
  574
  613
  654
  696
  741
  788
  838
  890
  944
  1,001
  1,062
  1,125
  1,191
  1,261
  1,335
  1,412
  1,494
  1,579
  1,670
Tax expense, $m
  58
  64
  71
  78
  85
  93
  101
  109
  118
  127
  145
  155
  166
  176
  188
  200
  213
  226
  240
  255
  270
  287
  304
  322
  341
  360
  381
  403
  426
  451
Net income, $m
  157
  174
  192
  211
  230
  251
  272
  295
  318
  343
  392
  419
  447
  477
  508
  541
  575
  611
  649
  689
  731
  775
  821
  870
  921
  975
  1,031
  1,091
  1,153
  1,219

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
  2,084
  2,223
  2,369
  2,520
  2,677
  2,841
  3,012
  3,190
  3,376
  3,569
  3,771
  3,983
  4,203
  4,433
  4,674
  4,926
  5,190
  5,466
  5,755
  6,057
  6,374
  6,706
  7,054
  7,419
  7,801
  8,202
  8,622
  9,062
  9,525
  10,009
Adjusted assets (=assets-cash), $m
  2,084
  2,223
  2,369
  2,520
  2,677
  2,841
  3,012
  3,190
  3,376
  3,569
  3,771
  3,983
  4,203
  4,433
  4,674
  4,926
  5,190
  5,466
  5,755
  6,057
  6,374
  6,706
  7,054
  7,419
  7,801
  8,202
  8,622
  9,062
  9,525
  10,009
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
  410
  437
  466
  495
  526
  559
  592
  627
  664
  702
  741
  783
  826
  872
  919
  969
  1,020
  1,075
  1,131
  1,191
  1,253
  1,318
  1,387
  1,459
  1,534
  1,612
  1,695
  1,782
  1,873
  1,968
Working capital, $m
  423
  451
  481
  511
  543
  577
  611
  647
  685
  724
  765
  808
  853
  900
  949
  1,000
  1,053
  1,109
  1,168
  1,229
  1,294
  1,361
  1,432
  1,506
  1,583
  1,664
  1,750
  1,839
  1,933
  2,031
Total debt, $m
  501
  589
  680
  775
  874
  977
  1,084
  1,196
  1,312
  1,434
  1,561
  1,694
  1,832
  1,977
  2,128
  2,286
  2,452
  2,625
  2,807
  2,997
  3,196
  3,404
  3,623
  3,851
  4,091
  4,343
  4,607
  4,884
  5,174
  5,478
Total liabilities, $m
  1,309
  1,396
  1,488
  1,583
  1,681
  1,784
  1,892
  2,003
  2,120
  2,242
  2,368
  2,501
  2,640
  2,784
  2,936
  3,094
  3,259
  3,433
  3,614
  3,804
  4,003
  4,212
  4,430
  4,659
  4,899
  5,151
  5,414
  5,691
  5,981
  6,286
Total equity, $m
  775
  827
  881
  937
  996
  1,057
  1,121
  1,187
  1,256
  1,328
  1,403
  1,482
  1,564
  1,649
  1,739
  1,833
  1,931
  2,033
  2,141
  2,253
  2,371
  2,495
  2,624
  2,760
  2,902
  3,051
  3,207
  3,371
  3,543
  3,723
Total liabilities and equity, $m
  2,084
  2,223
  2,369
  2,520
  2,677
  2,841
  3,013
  3,190
  3,376
  3,570
  3,771
  3,983
  4,204
  4,433
  4,675
  4,927
  5,190
  5,466
  5,755
  6,057
  6,374
  6,707
  7,054
  7,419
  7,801
  8,202
  8,621
  9,062
  9,524
  10,009
Debt-to-equity ratio
  0.650
  0.710
  0.770
  0.830
  0.880
  0.920
  0.970
  1.010
  1.050
  1.080
  1.110
  1.140
  1.170
  1.200
  1.220
  1.250
  1.270
  1.290
  1.310
  1.330
  1.350
  1.360
  1.380
  1.400
  1.410
  1.420
  1.440
  1.450
  1.460
  1.470
Adjusted equity ratio
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  157
  174
  192
  211
  230
  251
  272
  295
  318
  343
  392
  419
  447
  477
  508
  541
  575
  611
  649
  689
  731
  775
  821
  870
  921
  975
  1,031
  1,091
  1,153
  1,219
Depreciation, amort., depletion, $m
  83
  86
  90
  93
  97
  101
  105
  110
  114
  119
  92
  97
  102
  108
  113
  120
  126
  133
  140
  147
  155
  163
  171
  180
  189
  199
  209
  220
  231
  243
Funds from operations, $m
  240
  260
  282
  304
  328
  352
  378
  404
  432
  462
  484
  516
  549
  585
  622
  661
  701
  744
  789
  836
  886
  938
  992
  1,050
  1,110
  1,174
  1,240
  1,310
  1,384
  1,462
Change in working capital, $m
  27
  28
  30
  31
  32
  33
  35
  36
  38
  39
  41
  43
  45
  47
  49
  51
  54
  56
  59
  61
  64
  67
  71
  74
  78
  81
  85
  89
  94
  98
Cash from operations, $m
  212
  232
  252
  273
  296
  319
  343
  368
  395
  422
  443
  473
  505
  538
  573
  609
  648
  688
  730
  775
  821
  870
  922
  976
  1,033
  1,092
  1,155
  1,221
  1,290
  1,363
Maintenance CAPEX, $m
  -47
  -51
  -54
  -57
  -61
  -65
  -69
  -73
  -77
  -82
  -87
  -92
  -97
  -102
  -108
  -113
  -120
  -126
  -133
  -140
  -147
  -155
  -163
  -171
  -180
  -189
  -199
  -209
  -220
  -231
New CAPEX, $m
  -26
  -27
  -29
  -30
  -31
  -32
  -34
  -35
  -36
  -38
  -40
  -41
  -43
  -45
  -47
  -50
  -52
  -54
  -57
  -59
  -62
  -65
  -68
  -72
  -75
  -79
  -83
  -87
  -91
  -95
Cash from investing activities, $m
  -73
  -78
  -83
  -87
  -92
  -97
  -103
  -108
  -113
  -120
  -127
  -133
  -140
  -147
  -155
  -163
  -172
  -180
  -190
  -199
  -209
  -220
  -231
  -243
  -255
  -268
  -282
  -296
  -311
  -326
Free cash flow, $m
  139
  154
  170
  186
  204
  222
  241
  260
  281
  302
  316
  340
  365
  391
  418
  446
  476
  508
  541
  576
  612
  650
  691
  733
  777
  824
  873
  925
  980
  1,037
Issuance/(repayment) of debt, $m
  85
  88
  91
  95
  99
  103
  107
  112
  117
  122
  127
  133
  138
  145
  151
  158
  166
  173
  181
  190
  199
  208
  218
  229
  240
  252
  264
  277
  290
  304
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  
  85
  88
  91
  95
  99
  103
  107
  112
  117
  122
  127
  133
  138
  145
  151
  158
  166
  173
  181
  190
  199
  208
  218
  229
  240
  252
  264
  277
  290
  304
Total cash flow (excl. dividends), $m
  224
  242
  261
  281
  302
  325
  348
  372
  397
  424
  443
  472
  503
  535
  569
  605
  642
  681
  722
  766
  811
  859
  909
  962
  1,017
  1,076
  1,137
  1,202
  1,270
  1,341
Retained Cash Flow (-), $m
  -50
  -52
  -54
  -56
  -59
  -61
  -64
  -66
  -69
  -72
  -75
  -79
  -82
  -86
  -90
  -94
  -98
  -103
  -107
  -113
  -118
  -123
  -129
  -136
  -142
  -149
  -156
  -164
  -172
  -180
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
  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 available for distribution, $m
  175
  190
  207
  225
  244
  264
  284
  306
  328
  352
  368
  394
  421
  450
  480
  511
  544
  579
  615
  653
  693
  735
  780
  826
  875
  927
  981
  1,038
  1,098
  1,161
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
  167
  174
  180
  185
  189
  191
  192
  191
  189
  185
  175
  168
  160
  151
  141
  130
  118
  107
  95
  83
  72
  61
  51
  42
  34
  27
  21
  16
  12
  9
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 33.4
Price to Sales 3.2
Price to Book 7.5
Price to Tangible Book
Price to Cash Flow 39.2
Price to Free Cash Flow 54.7
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 $1765.9 million for the last fiscal year's total revenue generated by Bruker. The default revenue input number comes from 0001 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 6.9% 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 75.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $219 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%.

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 21.7%.

Life of production assets of 8.1 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 - $725.4 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 160.404 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 $5.2 billion.

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COMPANY NEWS

▶ Is Bruker Corporations (NASDAQ:BRKR) CEO Salary Justified?   [Nov-15-18 09:19AM  Simply Wall St.]
▶ Bruker Announces Quarterly Dividend   [07:00AM  PR Newswire]
▶ Bruker: 3Q Earnings Snapshot   [05:12PM  Associated Press]
▶ What Does Bruker Corporations (NASDAQ:BRKR) PE Ratio Tell You?   [Aug-31-18 03:56PM  Simply Wall St.]
▶ Bruker Announces Quarterly Dividend   [Aug-13-18 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]

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