2,426 Shares in Coherent, Inc. (COHR) Acquired by GWM Advisors LLC

GWM Advisors LLC purchased a new stake in shares of Coherent, Inc. (NASDAQ:COHR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,426 shares of the scientific and technical instruments company’s stock, valued at approximately $418,000.

Several other hedge funds have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its position in shares of Coherent by 3.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,718 shares of the scientific and technical instruments company’s stock valued at $1,520,000 after acquiring an additional 279 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Coherent by 6.1% during the 2nd quarter. Victory Capital Management Inc. now owns 6,316 shares of the scientific and technical instruments company’s stock valued at $988,000 after acquiring an additional 365 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Coherent by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 17,269 shares of the scientific and technical instruments company’s stock valued at $2,701,000 after acquiring an additional 441 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Coherent by 326.7% during the 2nd quarter. Toronto Dominion Bank now owns 640 shares of the scientific and technical instruments company’s stock valued at $100,000 after acquiring an additional 490 shares during the last quarter. Finally, Alps Advisors Inc. boosted its position in shares of Coherent by 29.6% during the 3rd quarter. Alps Advisors Inc. now owns 2,669 shares of the scientific and technical instruments company’s stock valued at $460,000 after acquiring an additional 609 shares during the last quarter. 98.77% of the stock is currently owned by hedge funds and other institutional investors.

Shares of COHR opened at $135.07 on Monday. The stock has a market capitalization of $3.28 billion, a P/E ratio of 10.75 and a beta of 1.37. Coherent, Inc. has a 12-month low of $115.53 and a 12-month high of $329.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.87 and a current ratio of 3.28.

Several brokerages have recently weighed in on COHR. ValuEngine cut shares of Coherent from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Zacks Investment Research lowered shares of Coherent from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. Stifel Nicolaus reduced their price objective on shares of Coherent from $218.00 to $214.00 and set a “buy” rating on the stock in a report on Friday, July 27th. Barclays reduced their price objective on shares of Coherent from $218.00 to $170.00 and set a “buy” rating on the stock in a report on Tuesday, October 23rd. Finally, Northcoast Research restated a “buy” rating and issued a $217.00 price objective on shares of Coherent in a report on Thursday, August 2nd. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $218.57.

In related news, EVP Mark Stewart Sobey sold 13,000 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $181.86, for a total value of $2,364,180.00. Following the sale, the executive vice president now directly owns 17,887 shares in the company, valued at approximately $3,252,929.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.97% of the stock is currently owned by insiders.

Coherent Company Profile

Coherent, Inc provides lasers and laser-based technology in a range of scientific, commercial, and industrial applications worldwide. It operates through two segments, Specialty Lasers and Systems, and Commercial Lasers and Components. The company designs, manufactures, services, and markets lasers, laser tools, precision optics, and related accessories.

Read More: Hedge Funds – Risk or Reward?

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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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