Amundi Pioneer Asset Management Inc. acquired a new position in shares of Coherent, Inc. (NASDAQ:COHR) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 47,767 shares of the scientific and technical instruments company’s stock, valued at approximately $13,481,000. Amundi Pioneer Asset Management Inc. owned about 0.19% of Coherent as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently modified their holdings of COHR. First Republic Investment Management Inc. acquired a new position in Coherent during the fourth quarter worth $208,000. Commerce Bank acquired a new position in Coherent during the fourth quarter worth $226,000. CIBC Asset Management Inc acquired a new position in Coherent during the fourth quarter worth $236,000. DekaBank Deutsche Girozentrale raised its holdings in Coherent by 97.0% during the third 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 last quarter. Finally, Groesbeck Investment Management Corp NJ acquired a new position in Coherent during the fourth quarter worth $262,000. 98.43% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Paul F. Sechrist sold 1,372 shares of Coherent stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $300.00, for a total value of $411,600.00. Following the completion of the sale, the executive vice president now owns 2,497 shares of the company’s stock, valued at $749,100. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 completion of the sale, the director now directly owns 10,500 shares of the company’s stock, valued at approximately $2,228,835. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.
Shares of Coherent, Inc. (COHR) opened at $219.02 on Friday. The company has a market capitalization of $5,440.00, a price-to-earnings ratio of 30.55 and a beta of 0.84. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.18 and a quick ratio of 2.08. Coherent, Inc. has a 1 year low of $184.37 and a 1 year high of $329.00.
Coherent (NASDAQ:COHR) last announced its quarterly earnings data on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 EPS for the quarter, beating the Zacks’ consensus estimate of $3.52 by $0.02. The business had revenue of $477.60 million during the quarter, compared to the consensus estimate of $474.21 million. Coherent had a return on equity of 29.82% and a net margin of 11.79%. The business’s revenue for the quarter was up 38.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.57 earnings per share. analysts expect that Coherent, Inc. will post 14.62 EPS for the current year.
Coherent announced that its board has initiated a share buyback plan on Wednesday, February 7th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
Several research firms have weighed in on COHR. Zacks Investment Research downgraded Coherent from a “hold” rating to a “sell” rating in a research report on Monday, February 12th. Northcoast Research reissued a “buy” rating and set a $314.00 price target on shares of Coherent in a research report on Monday, February 12th. Barclays set a $325.00 price target on Coherent and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Stifel Nicolaus dropped their price target on Coherent from $330.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $294.00 price target (down previously from $330.00) on shares of Coherent in a research report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. Coherent presently has an average rating of “Buy” and a consensus price target of $312.22.
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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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