Coherent, Inc. (COHR) Stake Lifted by Bank of Montreal Can

Bank of Montreal Can increased its stake in Coherent, Inc. (NASDAQ:COHR) by 91.9% in the 4th quarter, HoldingsChannel reports. The fund owned 3,351 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,605 shares during the period. Bank of Montreal Can’s holdings in Coherent were worth $945,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Epoch Investment Partners Inc. boosted its holdings in shares of Coherent by 3.6% in the third quarter. Epoch Investment Partners Inc. now owns 962,918 shares of the scientific and technical instruments company’s stock valued at $226,449,000 after acquiring an additional 33,295 shares in the last quarter. Earnest Partners LLC boosted its holdings in Coherent by 1.0% during the third quarter. Earnest Partners LLC now owns 636,910 shares of the scientific and technical instruments company’s stock worth $149,782,000 after buying an additional 6,066 shares in the last quarter. NWQ Investment Management Company LLC boosted its holdings in Coherent by 10.9% during the third quarter. NWQ Investment Management Company LLC now owns 446,953 shares of the scientific and technical instruments company’s stock worth $105,110,000 after buying an additional 43,822 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in Coherent by 25.3% during the third quarter. Allianz Asset Management GmbH now owns 316,510 shares of the scientific and technical instruments company’s stock worth $74,433,000 after buying an additional 63,851 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Coherent by 0.6% during the third quarter. Bank of New York Mellon Corp now owns 281,954 shares of the scientific and technical instruments company’s stock worth $66,307,000 after buying an additional 1,672 shares in the last quarter. Institutional investors and hedge funds own 95.70% of the company’s stock.

In related news, EVP Paul F. Sechrist sold 1,002 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $288.88, for a total value of $289,457.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul F. Sechrist sold 1,372 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $300.00, for a total transaction of $411,600.00. Following the completion of the transaction, the executive vice president now directly owns 2,497 shares of the company’s stock, valued at approximately $749,100. The disclosure for this sale can be found here. Insiders sold a total of 2,874 shares of company stock valued at $807,193 in the last ninety days. Company insiders own 1.40% of the company’s stock.

Coherent, Inc. (NASDAQ:COHR) opened at $210.41 on Monday. Coherent, Inc. has a 52 week low of $179.60 and a 52 week high of $329.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.18 and a quick ratio of 2.08. The company has a market cap of $5,222.80, a P/E ratio of 23.96 and a beta of 0.65.

Coherent (NASDAQ:COHR) last posted its quarterly earnings data on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.02. Coherent had a net margin of 11.79% and a return on equity of 29.82%. The firm had revenue of $477.60 million during the quarter, compared to analyst estimates of $474.21 million. During the same quarter last year, the business posted $2.57 EPS. The company’s revenue was up 38.0% on a year-over-year basis. analysts forecast that Coherent, Inc. will post 14.62 earnings per share for the current fiscal year.

Coherent declared that its board has approved a share repurchase program on Wednesday, February 7th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Coherent from a “hold” rating to a “sell” rating in a report on Monday, February 12th. Northcoast Research restated a “buy” rating and set a $314.00 target price on shares of Coherent in a report on Monday, February 12th. Barclays set a $325.00 target price on shares of Coherent and gave the stock an “overweight” rating in a report on Thursday, February 8th. Stifel Nicolaus reduced their target price on shares of Coherent from $330.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $294.00 target price (down from $330.00) on shares of Coherent in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. Coherent presently has an average rating of “Buy” and an average price target of $312.22.

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About Coherent

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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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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