TD Asset Management Inc. decreased its holdings in shares of Coherent, Inc. (NASDAQ:COHR) by 13.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,141 shares of the scientific and technical instruments company’s stock after selling 28,942 shares during the period. TD Asset Management Inc. owned about 0.77% of Coherent worth $25,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Pictet Asset Management Ltd. lifted its holdings in Coherent by 74.6% in the 1st quarter. Pictet Asset Management Ltd. now owns 614,170 shares of the scientific and technical instruments company’s stock valued at $87,040,000 after purchasing an additional 262,497 shares in the last quarter. Norges Bank purchased a new position in Coherent in the 4th quarter valued at $19,264,000. State of New Jersey Common Pension Fund D purchased a new position in Coherent in the 1st quarter valued at $25,510,000. First Trust Advisors LP lifted its holdings in Coherent by 69.2% in the 1st quarter. First Trust Advisors LP now owns 254,250 shares of the scientific and technical instruments company’s stock valued at $36,032,000 after purchasing an additional 103,961 shares in the last quarter. Finally, ACK Asset Management LLC purchased a new position in Coherent in the 1st quarter valued at $12,201,000. Hedge funds and other institutional investors own 96.43% of the company’s stock.
NASDAQ COHR opened at $146.51 on Friday. Coherent, Inc. has a 52 week low of $90.10 and a 52 week high of $192.37. The company has a quick ratio of 2.34, a current ratio of 3.97 and a debt-to-equity ratio of 0.31. The business’s fifty day simple moving average is $136.69 and its 200-day simple moving average is $134.73. The firm has a market cap of $3.51 billion, a PE ratio of 11.24 and a beta of 1.82.
Coherent (NASDAQ:COHR) last posted its quarterly earnings results on Tuesday, July 30th. The scientific and technical instruments company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.05 by $0.28. Coherent had a return on equity of 13.38% and a net margin of 8.12%. The business had revenue of $339.17 million for the quarter, compared to analyst estimates of $348.61 million. During the same quarter in the previous year, the firm earned $3.51 EPS. The company’s quarterly revenue was down 29.7% compared to the same quarter last year. Research analysts expect that Coherent, Inc. will post 4.92 EPS for the current year.
A number of brokerages have weighed in on COHR. Stifel Nicolaus raised their price objective on Coherent from $165.00 to $174.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Susquehanna Bancshares lowered Coherent from a “positive” rating to a “neutral” rating and set a $140.00 price objective on the stock. in a report on Monday, April 29th. Benchmark restated a “buy” rating and issued a $165.00 price objective on shares of Coherent in a report on Wednesday, July 31st. BidaskClub upgraded Coherent from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Finally, ValuEngine upgraded Coherent from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $159.17.
Coherent Company Profile
Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial applications. It operates through two segments, OEM Laser Sources and Industrial Lasers & Systems. The company designs, manufactures, markets, and services lasers, laser tools, precision optics, and related accessories; and laser measurement and control products.
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