Coherent, Inc. (NASDAQ:COHR) had its price target lifted by Needham & Company LLC from $215.00 to $265.00 in a research note released on Wednesday, May 10th. They currently have a buy rating on the scientific and technical instruments company’s stock.
COHR has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Coherent from a hold rating to a strong-buy rating and set a $222.00 target price on the stock in a report on Friday, March 24th. Susquehanna Bancshares Inc started coverage on shares of Coherent in a report on Wednesday, February 15th. They set a neutral rating and a $225.00 target price on the stock. Stifel Nicolaus increased their target price on shares of Coherent from $220.00 to $270.00 and gave the stock a buy rating in a report on Wednesday, May 10th. Finally, Benchmark Co. reiterated a buy rating on shares of Coherent in a report on Wednesday, May 10th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Coherent currently has an average rating of Buy and a consensus price target of $225.17.
Coherent (NASDAQ:COHR) opened at 255.83 on Wednesday. The stock has a 50 day moving average price of $230.61 and a 200 day moving average price of $180.44. Coherent has a 12 month low of $86.32 and a 12 month high of $260.99. The stock has a market capitalization of $6.30 billion, a PE ratio of 51.84 and a beta of 0.80.
Coherent (NASDAQ:COHR) last released its earnings results on Tuesday, May 9th. The scientific and technical instruments company reported $2.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.55 by $0.16. The company had revenue of $422.80 million for the quarter, compared to analyst estimates of $404.36 million. Coherent had a net margin of 9.64% and a return on equity of 15.22%. The firm’s quarterly revenue was up 111.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.04 EPS. On average, equities research analysts forecast that Coherent will post $12.34 earnings per share for the current fiscal year.
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In related news, CEO John Ambroseo sold 24,970 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $248.08, for a total value of $6,194,557.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Garry W. Rogerson sold 4,500 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $257.03, for a total transaction of $1,156,635.00. The disclosure for this sale can be found here. Insiders sold a total of 37,777 shares of company stock worth $9,320,878 over the last ninety days. Insiders own 1.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of COHR. Suntrust Banks Inc. acquired a new position in shares of Coherent during the third quarter valued at about $740,000. Emerald Acquisition Ltd. increased its position in shares of Coherent by 63.6% in the third quarter. Emerald Acquisition Ltd. now owns 56,597 shares of the scientific and technical instruments company’s stock valued at $6,257,000 after buying an additional 22,004 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Coherent by 0.8% in the third quarter. California State Teachers Retirement System now owns 51,263 shares of the scientific and technical instruments company’s stock valued at $5,667,000 after buying an additional 400 shares during the last quarter. Advisor Group Inc. increased its position in shares of Coherent by 67.2% in the third quarter. Advisor Group Inc. now owns 1,670 shares of the scientific and technical instruments company’s stock valued at $185,000 after buying an additional 671 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Coherent during the third quarter valued at about $430,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.
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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