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Bruker Authorizes Share Buyback Program

NEW YORK (GenomeWeb) – Bruker's board has authorized a share repurchase program, according to a document filed with the US Securities and Exchange Commission this week.

According to the firm's Form 8-K filed May 20, Bruker may repurchase shares of its common stock in order to offset the dilution of its stock resulting from the granting of option awards or restricted stock grants.

The firm said the buyback program will target an amount of shares not more than 1 percent of the total number of shares outstanding and noted the program does not require a specific dollar amount or number of shares.

This week, investment firms Mizuho Securities and William Blair downgraded Bruker's shares after the company announced CFO Charles Wagner would resign effective June 12.