Skip to main content
Premium Trial:

Request an Annual Quote

Bruker Board OKs $225M Share Repurchase Program

NEW YORK (GenomeWeb) – Bruker announced today that its board of directors has approved a new $225 million share repurchase program.

The firm said the repurchase program commenced yesterday and will run for two years. During that time Bruker may repurchase its common stock from time to time in amounts and at prices that it deems appropriate. It added that the repurchases may be made on the open market, privately negotiated, or through other transactions.

"Our new $225 million share buyback program reflects our confidence in the progress Bruker is making in its transformation and in its ongoing margin expansion," Frank Laukien, president and CEO of Bruker, said in a statement. "With a strong balance sheet and improving cash flow, we now have flexibility to return capital to shareholders, while we continue to invest for profitable growth."

Bruker said that it also is suspending its previous share repurchase program until Jan. 1, 2017. Under that program the firm was authorized to repurchase its common stock in amounts that were intended to offset, on an annual basis, the dilutive effect of shares that were issued pursuant to option awards or restricted stock grants under the company's long-term equity incentive plans. Bruker had repurchased around 1.25 million shares of its stock for approximately $24.9 million under that program.

The firm recently reported that as of the end September it held $331 million in cash and cash equivalents, and $201.3 million in short-term investments.

In early Friday trade on the Nasdaq, shares of Bruker were up around 1 percent at $21.02.

The Scan

Genetic Ancestry of South America's Indigenous Mapuche Traced

Researchers in Current Biology analyzed genome-wide data from more than five dozen Mapuche individuals to better understand their genetic history.

Study Finds Variants Linked to Diverticular Disease, Presents Polygenic Score

A new study in Cell Genomics reports on more than 150 genetic variants associated with risk of diverticular disease.

Mild, Severe Psoriasis Marked by Different Molecular Features, Spatial Transcriptomic Analysis Finds

A spatial transcriptomics paper in Science Immunology finds differences in cell and signaling pathway activity between mild and severe psoriasis.

ChatGPT Does As Well As Humans Answering Genetics Questions, Study Finds

Researchers in the European Journal of Human Genetics had ChatGPT answer genetics-related questions, finding it was about 68 percent accurate, but sometimes gave different answers to the same question.