Russell Investments Group Ltd. grew its holdings in shares of Coherent, Inc. (NASDAQ:COHR) by 76.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,488 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,667 shares during the quarter. Russell Investments Group Ltd.’s holdings in Coherent were worth $1,462,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank raised its holdings in shares of Coherent by 326.7% during the 2nd quarter. Toronto Dominion Bank now owns 640 shares of the scientific and technical instruments company’s stock valued at $100,000 after purchasing an additional 490 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Coherent during the 2nd quarter valued at $145,000. Chicago Partners Investment Group LLC raised its holdings in shares of Coherent by 814.4% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 1,143 shares of the scientific and technical instruments company’s stock valued at $179,000 after purchasing an additional 1,018 shares in the last quarter. Centre Asset Management LLC bought a new position in shares of Coherent during the 3rd quarter valued at $274,000. Finally, Weil Company Inc. bought a new position in shares of Coherent during the 2nd quarter valued at $252,000.
NASDAQ:COHR opened at $119.71 on Friday. Coherent, Inc. has a 1 year low of $115.53 and a 1 year 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. The firm has a market capitalization of $3.04 billion, a P/E ratio of 9.18 and a beta of 1.40.
Coherent (NASDAQ:COHR) last posted its earnings results on Tuesday, November 6th. The scientific and technical instruments company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.96 by $0.26. Coherent had a net margin of 13.00% and a return on equity of 25.89%. The business had revenue of $461.50 million for the quarter, compared to analyst estimates of $460.60 million. During the same period last year, the business posted $3.72 EPS. Coherent’s revenue was down 5.9% compared to the same quarter last year. Research analysts forecast that Coherent, Inc. will post 10.37 EPS for the current year.
COHR has been the topic of a number of research analyst reports. Longbow Research set a $215.00 target price on shares of Coherent and gave the company a “buy” rating in a research note on Thursday, August 23rd. ValuEngine lowered shares of Coherent from a “hold” rating to a “sell” rating in a research note on Friday, September 7th. Benchmark reiterated a “buy” rating and issued a $216.00 target price on shares of Coherent in a research note on Thursday, September 13th. Zacks Investment Research upgraded shares of Coherent from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 25th. Finally, Northcoast Research lowered shares of Coherent from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. 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 stock. The company has a consensus rating of “Hold” and a consensus target price of $218.00.
In related news, Director Pamela Fletcher sold 458 shares of the firm’s stock in a transaction on Friday, November 9th. The shares were 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 through this hyperlink. Company insiders own 1.40% of the company’s stock.
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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