Coherent, Inc. (COHR) Shares Sold by Highbridge Capital Management LLC

Highbridge Capital Management LLC reduced its holdings in shares of Coherent, Inc. (NASDAQ:COHR) by 81.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,116 shares of the scientific and technical instruments company’s stock after selling 4,946 shares during the period. Highbridge Capital Management LLC’s holdings in Coherent were worth $263,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of COHR. WESPAC Advisors LLC bought a new position in Coherent in the 2nd quarter valued at about $211,000. Coldstream Capital Management Inc. lifted its position in shares of Coherent by 3.1% during the 2nd quarter. Coldstream Capital Management Inc. now owns 1,010 shares of the scientific and technical instruments company’s stock worth $227,000 after buying an additional 30 shares in the last quarter. BB&T Securities LLC bought a new stake in shares of Coherent in the 2nd quarter worth approximately $236,000. DekaBank Deutsche Girozentrale raised its holdings in shares of Coherent by 97.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,064 shares of the scientific and technical instruments company’s stock worth $238,000 after purchasing an additional 524 shares during the period. Finally, Flinton Capital Management LLC raised its holdings in shares of Coherent by 73.8% in the 2nd quarter. Flinton Capital Management LLC now owns 1,168 shares of the scientific and technical instruments company’s stock worth $263,000 after purchasing an additional 496 shares during the period. Hedge funds and other institutional investors own 96.90% of the company’s stock.

Shares of Coherent, Inc. (NASDAQ COHR) traded up $4.07 on Thursday, reaching $297.16. 205,196 shares of the company’s stock were exchanged, compared to its average volume of 355,839. The stock has a market capitalization of $7,380.00, a PE ratio of 35.33 and a beta of 0.82. The company has a current ratio of 3.13, a quick ratio of 2.14 and a debt-to-equity ratio of 0.51. Coherent, Inc. has a twelve month low of $140.96 and a twelve month high of $320.73.

Coherent (NASDAQ:COHR) last posted its quarterly earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 EPS for the quarter, beating the Zacks’ 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 analysts’ expectations of $475.24 million. During the same quarter in the prior year, the company posted $1.65 earnings per share. The business’s revenue for the quarter was up 97.2% on a year-over-year basis. sell-side analysts forecast that Coherent, Inc. will post 15.56 EPS for the current fiscal year.

A number of research analysts have recently commented on COHR shares. Zacks Investment Research lowered shares of Coherent from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus boosted their price target on shares of Coherent from $290.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Barclays set a $332.00 price target on shares of Coherent and gave the stock a “buy” rating in a research note on Wednesday. Benchmark boosted their price target on shares of Coherent from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Finally, Needham & Company LLC boosted their price target on shares of Coherent from $270.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $319.22.

In related news, Director Stephen A. Skaggs sold 500 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $308.97, for a total transaction of $154,485.00. Following the transaction, the director now owns 11,000 shares in the company, valued at $3,398,670. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Paul F. Sechrist sold 1,372 shares of the stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $300.00, for a total transaction of $411,600.00. Following the transaction, the executive vice president now owns 2,497 shares in the company, valued at approximately $749,100. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,788 shares of company stock worth $5,901,628. Corporate insiders own 1.40% of the company’s stock.

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Coherent 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).

Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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