Coherent, Inc. (NASDAQ:COHR) posted its quarterly earnings results on Tuesday. The scientific and technical instruments company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.16. Coherent had a net margin of 9.64% and a return on equity of 15.22%. The company had revenue of $422.80 million for the quarter, compared to the consensus estimate of $404.36 million. During the same period last year, the company posted $1.04 EPS. The firm’s quarterly revenue was up 111.5% compared to the same quarter last year.
Coherent (NASDAQ:COHR) traded down 1.49% during mid-day trading on Friday, reaching $245.74. 347,215 shares of the company traded hands. Coherent has a 12-month low of $83.56 and a 12-month high of $260.25. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of 49.80 and a beta of 0.80. The company’s 50-day moving average is $215.73 and its 200-day moving average is $170.27.
In other Coherent news, Director Garry W. Rogerson sold 4,500 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $257.03, for a total value of $1,156,635.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Bret Dimarco sold 2,903 shares of the business’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $225.00, for a total value of $653,175.00. Following the completion of the transaction, the vice president now directly owns 7,401 shares of the company’s stock, valued at $1,665,225. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,903 shares of company stock valued at $1,934,550. 1.40% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in COHR. Hanseatic Management Services Inc. raised its position in shares of Coherent by 42.7% in the third quarter. Hanseatic Management Services Inc. now owns 17,315 shares of the scientific and technical instruments company’s stock valued at $1,914,000 after buying an additional 5,178 shares in the last quarter. Assetmark Inc. bought a new stake in shares of Coherent during the third quarter worth approximately $5,412,000. BlackRock Inc. increased its stake in shares of Coherent by 9.2% in the third quarter. BlackRock Inc. now owns 2,266 shares of the scientific and technical instruments company’s stock worth $250,000 after buying an additional 191 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of Coherent by 0.3% in the third quarter. Teachers Advisors LLC now owns 38,908 shares of the scientific and technical instruments company’s stock worth $4,301,000 after buying an additional 119 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Coherent by 7.4% in the third quarter. Rhumbline Advisers now owns 35,444 shares of the scientific and technical instruments company’s stock worth $3,918,000 after buying an additional 2,441 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors.
A number of research firms have recently weighed in on COHR. Susquehanna Bancshares Inc restated a “neutral” rating and issued a $240.00 price target (up from $225.00) on shares of Coherent in a research note on Wednesday, May 10th. Benchmark Co. reiterated a “buy” rating on shares of Coherent in a report on Wednesday, May 10th. Stifel Nicolaus raised their price objective on shares of Coherent from $220.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, May 10th. Zacks Investment Research upgraded shares of Coherent from a “hold” rating to a “strong-buy” rating and set a $286.00 price objective for the company in a report on Monday. Finally, Needham & Company LLC raised their price target on shares of Coherent from $215.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Coherent has an average rating of “Buy” and a consensus price target of $225.17.
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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