Coherent, Inc. (NASDAQ:COHR) Director Jay T. Flatley sold 5,500 shares of Coherent stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $305.80, for a total value of $1,681,900.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of Coherent, Inc. (COHR) traded up $2.99 during trading hours on Friday, reaching $307.32. The company’s stock had a trading volume of 310,384 shares, compared to its average volume of 446,617. Coherent, Inc. has a one year low of $124.94 and a one year high of $314.76. The firm has a market capitalization of $7,500.00, a P/E ratio of 25.24 and a beta of 0.79. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.13 and a quick ratio of 2.14.
Coherent (NASDAQ:COHR) last announced its quarterly earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.48 by $0.24. Coherent had a return on equity of 28.53% and a net margin of 12.02%. The company had revenue of $490.00 million during the quarter, compared to the consensus estimate of $475.24 million. During the same period in the previous year, the company posted $1.65 earnings per share. Coherent’s revenue for the quarter was up 97.2% on a year-over-year basis. equities research analysts anticipate that Coherent, Inc. will post 15.56 EPS for the current year.
COHR has been the subject of a number of research reports. ValuEngine downgraded Coherent from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 target price (up previously from $265.00) on shares of Coherent in a report on Wednesday, August 2nd. Benchmark Co. reaffirmed a “buy” rating and set a $290.00 target price (down previously from $295.00) on shares of Coherent in a report on Wednesday, August 2nd. Northcoast Research reaffirmed a “buy” rating and set a $314.00 target price (up previously from $311.00) on shares of Coherent in a report on Tuesday, September 12th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $290.00 target price on shares of Coherent in a report on Wednesday, September 13th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $309.89.
Several institutional investors have recently bought and sold shares of the company. Westport Asset Management Inc. purchased a new stake in shares of Coherent in the third quarter valued at approximately $588,000. California Public Employees Retirement System increased its position in shares of Coherent by 5.1% in the third quarter. California Public Employees Retirement System now owns 51,821 shares of the scientific and technical instruments company’s stock valued at $12,187,000 after buying an additional 2,521 shares in the last quarter. Bamco Inc. NY increased its position in shares of Coherent by 167.2% in the third quarter. Bamco Inc. NY now owns 16,300 shares of the scientific and technical instruments company’s stock valued at $3,833,000 after buying an additional 10,200 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Coherent by 12.8% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,980 shares of the scientific and technical instruments company’s stock valued at $701,000 after buying an additional 337 shares in the last quarter. Finally, Affinity Wealth Management increased its position in shares of Coherent by 39.5% in the third quarter. Affinity Wealth Management now owns 2,505 shares of the scientific and technical instruments company’s stock valued at $589,000 after buying an additional 709 shares in the last quarter. Institutional investors and hedge funds own 91.57% of the company’s stock.
Coherent Company Profile
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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