Coherent, Inc. (NASDAQ:COHR) VP Bret Dimarco sold 5,819 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $294.75, for a total transaction of $1,715,150.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Coherent, Inc. (NASDAQ:COHR) traded up $12.17 on Monday, reaching $308.97. 902,100 shares of the company traded hands, compared to its average volume of 447,123. Coherent, Inc. has a 1 year low of $120.70 and a 1 year high of $310.10. The stock has a market cap of $7,610.38, a P/E ratio of 25.99 and a beta of 0.79. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.14 and a current ratio of 3.13.
Coherent (NASDAQ:COHR) last announced its earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.24. Coherent had a net margin of 12.02% and a return on equity of 28.53%. The firm had revenue of $490.00 million for the quarter, compared to the consensus estimate of $475.24 million. During the same period in the prior year, the firm earned $1.65 EPS. The firm’s revenue for the quarter was up 97.2% on a year-over-year basis. research analysts predict that Coherent, Inc. will post 15.15 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently made changes to their positions in COHR. Teachers Advisors LLC increased its stake in Coherent by 20.9% during the 1st quarter. Teachers Advisors LLC now owns 53,287 shares of the scientific and technical instruments company’s stock worth $10,958,000 after buying an additional 9,217 shares during the period. Credit Suisse AG increased its stake in Coherent by 4.9% during the 1st quarter. Credit Suisse AG now owns 33,436 shares of the scientific and technical instruments company’s stock worth $6,876,000 after buying an additional 1,570 shares during the period. HighTower Advisors LLC purchased a new stake in Coherent during the 1st quarter worth approximately $261,000. Goldman Sachs Group Inc. increased its stake in Coherent by 29.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 67,283 shares of the scientific and technical instruments company’s stock worth $13,836,000 after buying an additional 15,380 shares during the period. Finally, Capstone Asset Management Co. increased its stake in Coherent by 21.4% during the 2nd quarter. Capstone Asset Management Co. now owns 3,152 shares of the scientific and technical instruments company’s stock worth $709,000 after buying an additional 556 shares during the period. 91.57% of the stock is currently owned by hedge funds and other institutional investors.
COHR has been the topic of several recent analyst reports. Benchmark Co. restated a “buy” rating and issued a $295.00 price objective (up from $275.00) on shares of Coherent in a report on Thursday, July 20th. Needham & Company LLC restated a “buy” rating and issued a $270.00 price objective (up from $265.00) on shares of Coherent in a report on Wednesday, August 2nd. ValuEngine upgraded shares of Coherent from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. UBS AG upgraded shares of Coherent from a “neutral” rating to a “positive” rating in a report on Thursday, August 3rd. Finally, Susquehanna Bancshares Inc upgraded shares of Coherent from a “neutral” rating to a “positive” rating and upped their price objective for the stock from $255.00 to $275.00 in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $309.89.
Coherent Company Profile
Coherent, Inc is a photonics manufacturer. The Company is engaged in designing, manufacturing, servicing and marketing of lasers and related accessories for a range of scientific, commercial and industrial applications. It operates through two segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).
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