Coherent, Inc. (NASDAQ:COHR) – Analysts at Northcoast Research lowered their FY2017 earnings estimates for Coherent in a research report issued to clients and investors on Wednesday. Northcoast Research analyst T. Hayes now expects that the scientific and technical instruments company will earn $11.52 per share for the year, down from their previous forecast of $11.70.

Coherent (NASDAQ:COHR) last announced its quarterly earnings data on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.45 by $0.09. Coherent had a net margin of 11.08% and a return on equity of 24.98%. The firm had revenue of $464.10 million for the quarter, compared to analysts’ expectations of $466.90 million. During the same period last year, the company posted $1.07 earnings per share. The business’s revenue for the quarter was up 112.1% compared to the same quarter last year.

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COHR has been the topic of several other research reports. Longbow Research reiterated a “buy” rating and issued a $325.00 target price on shares of Coherent in a research note on Monday, June 12th. Benchmark Co. reiterated a “buy” rating and issued a $295.00 target price (up previously from $275.00) on shares of Coherent in a research note on Thursday, July 20th. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $240.00 target price (up previously from $225.00) on shares of Coherent in a research note on Wednesday, May 10th. Stifel Nicolaus lifted their target price on Coherent from $220.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. Finally, ValuEngine upgraded Coherent from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Coherent presently has an average rating of “Buy” and an average price target of $266.57.

Shares of Coherent (NASDAQ:COHR) opened at 210.99 on Monday. The company’s 50-day moving average is $250.07 and its 200 day moving average is $215.08. The stock has a market capitalization of $5.18 billion, a P/E ratio of 31.77 and a beta of 0.72. Coherent has a 12 month low of $100.01 and a 12 month high of $278.39.

Several large investors have recently modified their holdings of COHR. Moody Aldrich Partners LLC acquired a new stake in shares of Coherent during the first quarter worth $505,000. Independent Portfolio Consultants Inc. raised its stake in shares of Coherent by 4.4% in the first quarter. Independent Portfolio Consultants Inc. now owns 6,690 shares of the scientific and technical instruments company’s stock worth $1,376,000 after buying an additional 285 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Coherent by 8.7% in the first quarter. ProShare Advisors LLC now owns 4,819 shares of the scientific and technical instruments company’s stock worth $991,000 after buying an additional 384 shares during the last quarter. Nationwide Fund Advisors raised its stake in shares of Coherent by 67.6% in the first quarter. Nationwide Fund Advisors now owns 68,463 shares of the scientific and technical instruments company’s stock worth $14,079,000 after buying an additional 27,602 shares during the last quarter. Finally, Westwood Management Corp IL raised its stake in shares of Coherent by 4.2% in the first quarter. Westwood Management Corp IL now owns 240,500 shares of the scientific and technical instruments company’s stock worth $49,456,000 after buying an additional 9,600 shares during the last quarter. Institutional investors and hedge funds own 92.94% of the company’s stock.

In other news, CEO John Ambroseo sold 24,970 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $248.08, for a total transaction of $6,194,557.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Garry W. Rogerson sold 4,500 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $257.03, for a total value of $1,156,635.00. The disclosure for this sale can be found here. Insiders have sold 34,874 shares of company stock worth $8,667,703 in the last 90 days. Insiders own 1.40% 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).

Earnings History and Estimates for Coherent (NASDAQ:COHR)

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