Why Bruker Stock Tumbled by Almost 12% Wednesday
Medical device and diagnostics company (NASDAQ: BRKR) wasn't looking like the cure for any investor's ailments on Wednesday. The stock was hit with an assertive sell-off from the market, leaving it with a nearly 12% price decline on the session. The S 500 index had a much better day, ticking up by 0.5%.
Just after market close on Tuesday, Bruker announced that it was floating a $600 million issue of mandatory convertible preferred stock. The conversion date will be on or about Sept. 1, 2028. Additionally, the company said it expects to grant the issue's underwriters a 30-day option to collectively purchase up to an additional $90 million worth of the securities.
Image source: Getty Images.
Source Fool.com
Bruker Corp. Aktie
34,21 €
3,04 %
Leichte Buy-Präferenz bei der Bruker Corp. Aktie.
Ein Kursziel von 43 € für Bruker Corp. signalisiert eine potenzielle Steigerung von über 20% gegenüber dem aktuellen Kurs von 34.21 €.
