Marshall Wace North America L.P. lifted its holdings in Coherent, Inc. (NASDAQ:COHR) by 20.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 96,593 shares of the scientific and technical instruments company’s stock after buying an additional 16,184 shares during the quarter. Marshall Wace North America L.P. owned approximately 0.40% of Coherent worth $16,632,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Clearbridge Investments LLC raised its holdings in shares of Coherent by 12.3% in the third quarter. Clearbridge Investments LLC now owns 88,641 shares of the scientific and technical instruments company’s stock worth $15,263,000 after buying an additional 9,740 shares during the period. Vanguard Group Inc. raised its holdings in shares of Coherent by 0.3% in the third quarter. Vanguard Group Inc. now owns 2,185,105 shares of the scientific and technical instruments company’s stock worth $376,253,000 after buying an additional 5,472 shares during the period. Meristem Family Wealth LLC purchased a new stake in shares of Coherent in the third quarter worth approximately $201,000. Nordea Investment Management AB raised its holdings in shares of Coherent by 42.9% in the third quarter. Nordea Investment Management AB now owns 25,259 shares of the scientific and technical instruments company’s stock worth $4,350,000 after buying an additional 7,584 shares during the period. Finally, TIAA CREF Investment Management LLC raised its holdings in shares of Coherent by 9.8% in the third quarter. TIAA CREF Investment Management LLC now owns 91,601 shares of the scientific and technical instruments company’s stock worth $15,773,000 after buying an additional 8,213 shares during the period.
Several equities research analysts have recently weighed in on the company. Vertical Group assumed coverage on Coherent in a report on Tuesday, November 27th. They issued a “buy” rating on the stock. Northcoast Research reiterated a “hold” rating on shares of Coherent in a report on Monday, November 19th. BidaskClub upgraded Coherent from a “sell” rating to a “hold” rating in a report on Friday, November 16th. Berenberg Bank assumed coverage on Coherent in a report on Wednesday, November 14th. They issued a “buy” rating on the stock. Finally, Benchmark reduced their price target on Coherent from $216.00 to $212.00 and set a “buy” rating on the stock in a report on Wednesday, November 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Coherent presently has an average rating of “Hold” and a consensus price target of $218.00.
In other Coherent news, Director Pamela Fletcher sold 458 shares of the firm’s stock in a transaction on Friday, November 9th. The stock was sold at an average price of $132.75, for a total transaction of $60,799.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.40% of the company’s stock.
COHR opened at $119.71 on Friday. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 9.18 and a beta of 1.40. Coherent, Inc. has a 52 week low of $115.53 and a 52 week high of $329.00. The company has a current ratio of 3.32, a quick ratio of 2.02 and a debt-to-equity ratio of 0.32.
Coherent (NASDAQ:COHR) last released its quarterly earnings data on Tuesday, November 6th. The scientific and technical instruments company reported $3.22 EPS for the quarter, topping the consensus estimate of $2.96 by $0.26. The company had revenue of $461.50 million for the quarter, compared to the consensus estimate of $460.60 million. Coherent had a return on equity of 25.89% and a net margin of 13.00%. Coherent’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period last year, the business posted $3.72 EPS. On average, equities research analysts forecast that Coherent, Inc. will post 10.37 EPS for the current fiscal year.
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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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