Coherent, Inc. (COHR) EVP Mark Stewart Sobey Sells 4,904 Shares
Coherent, Inc. (NASDAQ:COHR) EVP Mark Stewart Sobey sold 4,904 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $243.02, for a total value of $1,191,770.08. Following the completion of the sale, the executive vice president now directly owns 12,397 shares in the company, valued at $3,012,718.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Coherent, Inc. (NASDAQ:COHR) traded down 1.16% during mid-day trading on Wednesday, reaching $244.74. The company’s stock had a trading volume of 370,779 shares. Coherent, Inc. has a one year low of $83.56 and a one year high of $260.25. The stock has a market cap of $6.03 billion, a P/E ratio of 49.59 and a beta of 0.80. The firm’s 50 day moving average is $219.40 and its 200-day moving average is $174.28.
Coherent (NASDAQ:COHR) last issued its earnings results on Tuesday, May 9th. The scientific and technical instruments company reported $2.71 EPS for the quarter, topping the Zacks’ consensus estimate of $2.55 by $0.16. The business had revenue of $422.80 million for the quarter, compared to the consensus estimate of $404.36 million. Coherent had a net margin of 9.64% and a return on equity of 15.22%. The company’s revenue for the quarter was up 111.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.04 EPS. Equities analysts expect that Coherent, Inc. will post $12.34 earnings per share for the current fiscal year.
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Several analysts have weighed in on COHR shares. Needham & Company LLC lifted their price objective on Coherent to $215.00 and gave the company a “buy” rating in a research report on Monday, March 13th. Zacks Investment Research cut Coherent from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 11th. Benchmark Co. reaffirmed a “buy” rating on shares of Coherent in a research report on Wednesday, May 10th. Susquehanna Bancshares Inc started coverage on Coherent in a research report on Wednesday, February 15th. They set a “neutral” rating and a $225.00 price objective on the stock. Finally, Stifel Nicolaus lifted their price objective on Coherent from $220.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, May 10th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $225.17.
A number of institutional investors have recently modified their holdings of COHR. Johnson Financial Group Inc. increased its position in shares of Coherent by 15.8% in the fourth quarter. Johnson Financial Group Inc. now owns 733 shares of the scientific and technical instruments company’s stock worth $101,000 after buying an additional 100 shares in the last quarter. Flinton Capital Management LLC bought a new position in shares of Coherent during the fourth quarter worth approximately $105,000. Hanson McClain Inc. increased its position in shares of Coherent by 54.5% in the first quarter. Hanson McClain Inc. now owns 709 shares of the scientific and technical instruments company’s stock worth $146,000 after buying an additional 250 shares in the last quarter. Bank of Montreal Can increased its position in shares of Coherent by 11.4% in the first quarter. Bank of Montreal Can now owns 812 shares of the scientific and technical instruments company’s stock worth $167,000 after buying an additional 83 shares in the last quarter. Finally, Asset Management One Co. Ltd. bought a new position in shares of Coherent during the first quarter worth approximately $170,000. Institutional investors and hedge funds own 93.52% 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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