Coherent (NASDAQ:COHR) Stock Price Passes Above Fifty Day Moving Average of $124.21

Coherent, Inc. (NASDAQ:COHR)’s share price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $124.21 and traded as high as $135.27. Coherent shares last traded at $134.92, with a volume of 9,359 shares traded.

Several research analysts recently weighed in on the company. BidaskClub upgraded Zai Lab from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 28th. TheStreet upgraded Viewray from a “d+” rating to a “c-” rating in a research report on Thursday, March 21st. Susquehanna Bancshares reiterated a “neutral” rating and issued a $180.00 price objective on shares of Universal Display in a research report on Monday, April 29th. Zacks Investment Research lowered EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Stifel Nicolaus increased their price objective on Zendesk from $75.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $169.88.

The firm has a 50-day simple moving average of $124.63. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 10.16 and a beta of 1.85. The company has a quick ratio of 2.03, a current ratio of 3.36 and a debt-to-equity ratio of 0.31.

Coherent (NASDAQ:COHR) last released its quarterly earnings results on Tuesday, April 30th. The scientific and technical instruments company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.01). Coherent had a return on equity of 17.88% and a net margin of 11.56%. The firm had revenue of $372.90 million for the quarter, compared to analysts’ expectations of $369.11 million. During the same quarter in the prior year, the business earned $3.37 earnings per share. The company’s quarterly revenue was down 22.5% on a year-over-year basis. On average, equities analysts predict that Coherent, Inc. will post 6.1 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in Coherent by 1.2% in the first quarter. BlackRock Inc. now owns 2,268,315 shares of the scientific and technical instruments company’s stock valued at $321,464,000 after purchasing an additional 26,658 shares during the period. Victory Capital Management Inc. boosted its holdings in Coherent by 9.7% in the first quarter. Victory Capital Management Inc. now owns 1,011,282 shares of the scientific and technical instruments company’s stock valued at $143,319,000 after purchasing an additional 89,701 shares during the period. Pictet Asset Management Ltd. boosted its holdings in Coherent by 74.6% in the first quarter. Pictet Asset Management Ltd. now owns 614,170 shares of the scientific and technical instruments company’s stock valued at $87,040,000 after purchasing an additional 262,497 shares during the period. Royce & Associates LP boosted its holdings in Coherent by 7.3% in the first quarter. Royce & Associates LP now owns 601,518 shares of the scientific and technical instruments company’s stock valued at $85,247,000 after purchasing an additional 40,927 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Coherent by 25.8% in the fourth quarter. Bank of New York Mellon Corp now owns 336,435 shares of the scientific and technical instruments company’s stock valued at $35,565,000 after purchasing an additional 68,921 shares during the period. Institutional investors and hedge funds own 96.43% of the company’s stock.

Coherent Company Profile (NASDAQ:COHR)

Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial applications. It operates through two segments, OEM Laser Sources and Industrial Lasers & Systems. The company designs, manufactures, markets, and services lasers, laser tools, precision optics, and related accessories; and laser measurement and control products.

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