MML Investors Services LLC grew its holdings in shares of Coherent, Inc. (NASDAQ:COHR) by 23.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,119 shares of the scientific and technical instruments company’s stock after buying an additional 409 shares during the quarter. MML Investors Services LLC’s holdings in Coherent were worth $598,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in COHR. First Republic Investment Management Inc. bought a new position in shares of Coherent during the fourth quarter valued at approximately $208,000. Commerce Bank bought a new position in shares of Coherent during the fourth quarter valued at approximately $226,000. CIBC Asset Management Inc bought a new position in shares of Coherent during the fourth quarter valued at approximately $236,000. DekaBank Deutsche Girozentrale boosted its holdings in shares of Coherent by 97.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,064 shares of the scientific and technical instruments company’s stock valued at $238,000 after purchasing an additional 524 shares during the period. Finally, Groesbeck Investment Management Corp NJ purchased a new stake in shares of Coherent in the fourth quarter valued at approximately $262,000. 98.43% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Coherent, Inc. (COHR) opened at $221.66 on Friday. The company has a quick ratio of 2.08, a current ratio of 3.18 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $5,436.45, a P/E ratio of 16.60 and a beta of 0.84. Coherent, Inc. has a twelve month low of $184.37 and a twelve month high of $329.00.
Coherent (NASDAQ:COHR) last posted its earnings results on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 earnings per share for the quarter, topping analysts’ consensus estimates of $3.52 by $0.02. The company had revenue of $477.60 million during the quarter, compared to analyst estimates of $474.21 million. Coherent had a return on equity of 29.82% and a net margin of 11.79%. Coherent’s revenue was up 38.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.57 earnings per share. research analysts expect that Coherent, Inc. will post 14.62 EPS for the current fiscal year.
Coherent announced that its board has authorized a share repurchase program on Wednesday, February 7th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
COHR has been the subject of a number of research reports. Zacks Investment Research lowered Coherent from a “hold” rating to a “sell” rating in a report on Monday, February 12th. BidaskClub lowered Coherent from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Barclays set a $332.00 price target on Coherent and gave the company a “buy” rating in a report on Wednesday, January 10th. Stifel Nicolaus lowered their price target on Coherent from $330.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Finally, Northcoast Research reiterated a “buy” rating and issued a $314.00 price target on shares of Coherent in a report on Monday, February 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $312.22.
In other Coherent news, Director Stephen A. Skaggs sold 500 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $212.27, for a total transaction of $106,135.00. Following the completion of the sale, the director now owns 10,500 shares in the company, valued at $2,228,835. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Paul F. Sechrist sold 1,372 shares of the company’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $300.00, for a total value of $411,600.00. Following the sale, the executive vice president now owns 2,497 shares of the company’s stock, valued at approximately $749,100. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.
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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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