Highly rated life sciences research equipment maker Bruker is one of those rare companies that keeps putting up strong profit and sales numbers, and has good chart action. On Tuesday, the Relative Strength (RS) Rating for Bruker stock rose from 61 to 72.
Bruker stock is trying to complete a cup-with-handle pattern with a 75.27 buy point. See if it can clear the breakout price in volume at least 40% above average. It began forming a long cup pattern in May last year. The stock fell to an intraday low 53.79 on Oct. 30, then turned upward.
Bruker Stock Closing In On Buy Point
Tuesday afternoon, Bruker traded above 73, up fractionally for the day and up about 36% from the October low. Notably, it's trading just a few points below the 75.27 buy point.
The upgraded 72 Relative Strength Rating shows that Bruker stock beat more than 70% of all stocks for price performance this past year. CAN SLIM investors would like to see a bit more. The market's biggest winners tend to have an RS Rating above 80 in the early stages of their moves. See if Bruker can continue to rebound and hit that benchmark.
Additionally, Bruker has a terrific 96 Composite Rating out of 99. It also carries a 90 Earnings Per Share Rating, putting it in the top 10% of companies for recent and long-term earnings growth.
Additionally, Bruker boasts an A SMR Rating (sales + profit margins + return on equity) on an A-to-E scale with A superb and E terrible. Finally, its A- Accumulation/Distribution Rating demonstrates that big funds like insurance funds and ETFs are avid buyers.
Looking For The Best Stocks To Buy And Watch? Start Here
Double-Digit Profits, Rising Sales Growth
Bruker's fundamentals are decent too. Over the last four quarters it's reported earnings growth of 25%, 31%, 11% and 12% last quarter to 74 cents per share. During that time its revenue growth rose from 4% to 15%, 16% and 16% again last quarter to $742.8 million. The company is expected to report its latest numbers on or around Feb. 8.
On Jan. 25, Bruker agreed to buy Swiss-based Chemspeed, which makes automated diagnostics and R&D systems. The companies didn't disclose financial details of the deal.
Bruker earns the No. 2 rank among its peers in the 71-stock Medical-Systems/Equipment industry group. Robotic surgery systems maker Intuitive Surgical is No. 1 in the group. And MRI compatible products maker iRadimed is No. 3 among the group's highest-rated stocks. The group itself has a strong A- Group Relative Strength Rating.
Please follow James DeTar on X, formerly known as Twitter, @JimDeTar
