Coherent, Inc. (NASDAQ:COHR) EVP Paul F. Sechrist sold 1,002 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $288.88, for a total transaction of $289,457.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of Coherent, Inc. (NASDAQ:COHR) opened at $284.20 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.13 and a quick ratio of 2.14. The stock has a market cap of $6,998.98, a price-to-earnings ratio of 23.72 and a beta of 0.81. Coherent, Inc. has a 52 week low of $128.21 and a 52 week high of $320.73.
Coherent (NASDAQ:COHR) last posted its earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.48 by $0.24. The company had revenue of $490.00 million during the quarter, compared to analysts’ expectations of $475.24 million. Coherent had a net margin of 12.02% and a return on equity of 28.53%. Coherent’s quarterly revenue was up 97.2% on a year-over-year basis. During the same period last year, the company posted $1.65 earnings per share. research analysts anticipate that Coherent, Inc. will post 15.56 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AXA grew its stake in Coherent by 30.8% during the third quarter. AXA now owns 46,167 shares of the scientific and technical instruments company’s stock valued at $10,857,000 after acquiring an additional 10,867 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Coherent by 190.8% during the third quarter. Public Employees Retirement System of Ohio now owns 33,923 shares of the scientific and technical instruments company’s stock valued at $7,978,000 after acquiring an additional 22,257 shares in the last quarter. GSA Capital Partners LLP bought a new position in Coherent during the third quarter valued at $485,000. Westport Asset Management Inc. bought a new position in Coherent during the third quarter valued at $588,000. Finally, California Public Employees Retirement System lifted its position in Coherent by 5.1% during the third quarter. California Public Employees Retirement System now owns 51,821 shares of the scientific and technical instruments company’s stock valued at $12,187,000 after purchasing an additional 2,521 shares during the last quarter. 97.06% of the stock is owned by institutional investors.
COHR has been the subject of a number of research reports. ValuEngine cut shares of Coherent from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Benchmark reaffirmed a “buy” rating and set a $290.00 target price on shares of Coherent in a report on Thursday, October 12th. Northcoast Research reaffirmed a “buy” rating and set a $314.00 target price (up from $311.00) on shares of Coherent in a report on Tuesday, September 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $290.00 target price on shares of Coherent in a report on Wednesday, September 13th. Finally, Summit Redstone reaffirmed a “buy” rating and set a $320.00 target price on shares of Coherent in a report on Saturday, September 23rd. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Coherent has a consensus rating of “Buy” and an average price target of $309.89.
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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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