BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Coherent, Inc. (NASDAQ:COHR) by 81.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,000 shares of the scientific and technical instruments company’s stock after purchasing an additional 22,500 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.21% of Coherent worth $8,610,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in shares of Coherent by 11.0% during the second quarter. Bank of America Corp DE now owns 176,216 shares of the scientific and technical instruments company’s stock valued at $27,564,000 after purchasing an additional 17,451 shares during the period. Value Holdings Management CO. LLC boosted its stake in Coherent by 13.4% in the 2nd quarter. Value Holdings Management CO. LLC now owns 33,803 shares of the scientific and technical instruments company’s stock valued at $5,288,000 after buying an additional 4,000 shares in the last quarter. Robecosam AG boosted its stake in Coherent by 75.0% in the 3rd quarter. Robecosam AG now owns 70,000 shares of the scientific and technical instruments company’s stock valued at $12,050,000 after buying an additional 30,000 shares in the last quarter. Brown Advisory Inc. acquired a new stake in Coherent in the 2nd quarter valued at $867,000. Finally, WINTON GROUP Ltd acquired a new stake in Coherent in the 2nd quarter valued at $254,000.
Shares of COHR stock opened at $119.71 on Friday. The company has a current ratio of 3.32, a quick ratio of 2.02 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $3.15 billion, a P/E ratio of 9.18 and a beta of 1.40. Coherent, Inc. has a one year low of $115.53 and a one year high of $329.00.
Coherent (NASDAQ:COHR) last posted its quarterly earnings data on Tuesday, November 6th. The scientific and technical instruments company reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.96 by $0.26. The company had revenue of $461.50 million for the quarter, compared to analyst estimates of $460.60 million. Coherent had a return on equity of 25.89% and a net margin of 13.00%. The business’s revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.72 earnings per share. Research analysts expect that Coherent, Inc. will post 10.37 earnings per share for the current fiscal year.
Several brokerages recently commented on COHR. TheStreet lowered Coherent from a “b” rating to a “c+” rating in a research note on Friday, October 19th. Northcoast Research reaffirmed a “hold” rating on shares of Coherent in a research note on Wednesday, October 24th. Benchmark reaffirmed a “buy” rating and issued a $216.00 price target on shares of Coherent in a research note on Thursday, September 13th. Stifel Nicolaus set a $185.00 price target on Coherent and gave the company a “buy” rating in a research note on Tuesday, October 23rd. Finally, Vertical Group began coverage on Coherent in a research note on Tuesday, November 27th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $218.00.
In other Coherent news, Director Pamela Fletcher sold 458 shares of the business’s stock in a transaction on Friday, November 9th. The stock was sold at an average price of $132.75, for a total value of $60,799.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.40% of the stock is currently owned by insiders.
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Coherent Company Profile
Coherent, Inc provides lasers and laser-based technology in a range of scientific, commercial, and industrial applications worldwide. It operates through two segments, Specialty Lasers and Systems, and Commercial Lasers and Components. The company designs, manufactures, services, and markets lasers, laser tools, precision optics, and related accessories.
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