Jag Capital Management LLC Purchases New Holdings in Coherent, Inc. (NASDAQ:COHR)

Jag Capital Management LLC purchased a new stake in shares of Coherent, Inc. (NASDAQ:COHR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 46,090 shares of the scientific and technical instruments company’s stock, valued at approximately $13,008,000. Coherent comprises approximately 2.4% of Jag Capital Management LLC’s investment portfolio, making the stock its 17th largest holding. Jag Capital Management LLC owned 0.19% of Coherent as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in COHR. Amalgamated Bank grew its stake in shares of Coherent by 50.3% in the second quarter. Amalgamated Bank now owns 5,007 shares of the scientific and technical instruments company’s stock worth $1,127,000 after acquiring an additional 1,675 shares during the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of Coherent by 30.3% in the second quarter. UBS Asset Management Americas Inc. now owns 17,409 shares of the scientific and technical instruments company’s stock worth $3,917,000 after acquiring an additional 4,047 shares during the last quarter. FMR LLC grew its stake in shares of Coherent by 23.2% in the second quarter. FMR LLC now owns 494,053 shares of the scientific and technical instruments company’s stock worth $111,157,000 after acquiring an additional 93,014 shares during the last quarter. MML Investors Services LLC grew its stake in shares of Coherent by 16.4% in the second quarter. MML Investors Services LLC now owns 1,707 shares of the scientific and technical instruments company’s stock worth $384,000 after acquiring an additional 241 shares during the last quarter. Finally, M&T Bank Corp grew its stake in shares of Coherent by 205.4% in the second quarter. M&T Bank Corp now owns 9,681 shares of the scientific and technical instruments company’s stock worth $2,176,000 after acquiring an additional 6,511 shares during the last quarter. Institutional investors own 95.70% of the company’s stock.

Shares of Coherent, Inc. (COHR) traded up $7.81 during mid-day trading on Wednesday, reaching $213.99. The company had a trading volume of 603,703 shares, compared to its average volume of 689,602. The company has a market capitalization of $5,310.00, a PE ratio of 24.21 and a beta of 0.65. Coherent, Inc. has a 52-week low of $179.60 and a 52-week high of $329.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.08 and a current ratio of 3.18.

Coherent (NASDAQ:COHR) last issued its quarterly earnings data on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.52 by $0.02. The company had revenue of $477.60 million during the quarter, compared to analysts’ expectations of $474.21 million. Coherent had a return on equity of 29.82% and a net margin of 11.79%. The business’s revenue was up 38.0% on a year-over-year basis. During the same period last year, the business earned $2.57 earnings per share. research analysts anticipate that Coherent, Inc. will post 15.25 EPS for the current fiscal year.

Coherent declared that its board has initiated a share buyback plan on Wednesday, February 7th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the scientific and technical instruments company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

In other Coherent news, Director Jay T. Flatley sold 5,500 shares of Coherent stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $305.80, for a total transaction of $1,681,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction on Monday, February 12th. The shares were sold at an average price of $212.27, for a total value of $106,135.00. Following the transaction, the director now directly owns 10,500 shares of the company’s stock, valued at $2,228,835. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,374 shares of company stock valued at $2,489,093. Company insiders own 0.97% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Coherent from a “hold” rating to a “buy” rating in a research note on Thursday, January 18th. Zacks Investment Research downgraded shares of Coherent from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Stifel Nicolaus raised their target price on Coherent from $290.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Barclays set a $332.00 target price on Coherent and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Finally, Benchmark raised their target price on Coherent from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $312.22.

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About Coherent

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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