Teachers Retirement System of The State of Kentucky raised its holdings in shares of Coherent, Inc. (NASDAQ:COHR) by 7.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,252 shares of the scientific and technical instruments company’s stock after acquiring an additional 3,820 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.21% of Coherent worth $7,839,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. Vantage Consulting Group Inc bought a new stake in shares of Coherent in the 4th quarter valued at approximately $32,000. Tompkins Financial Corp bought a new stake in shares of Coherent in the 4th quarter valued at approximately $49,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Coherent in the 4th quarter valued at approximately $105,000. Pinnacle Associates Ltd. bought a new stake in shares of Coherent in the 4th quarter valued at approximately $210,000. Finally, Integrated Investment Consultants LLC bought a new stake in shares of Coherent in the 4th quarter valued at approximately $223,000. 91.82% of the stock is currently owned by institutional investors.
COHR has been the subject of several recent research reports. Barclays raised Coherent from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, January 20th. Benchmark cut Coherent from a “buy” rating to a “hold” rating in a research report on Thursday, February 11th. TheStreet raised Coherent from a “d+” rating to a “c-” rating in a research report on Friday, January 29th. Zacks Investment Research raised Coherent from a “hold” rating to a “strong-buy” rating and set a $300.00 target price for the company in a research report on Wednesday, February 17th. Finally, Berenberg Bank cut Coherent from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research report on Thursday, January 21st. Seven investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Coherent presently has a consensus rating of “Hold” and an average target price of $183.56.
Coherent (NASDAQ:COHR) last issued its quarterly earnings results on Tuesday, February 9th. The scientific and technical instruments company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.20. Coherent had a positive return on equity of 3.41% and a negative net margin of 33.70%. The company had revenue of $326.05 million during the quarter, compared to analyst estimates of $318.22 million. During the same period in the previous year, the company earned $0.86 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, equities analysts predict that Coherent, Inc. will post 3.27 EPS for the current fiscal year.
Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial research applications. It operates in two segments, OEM Laser Sources and Industrial Lasers & Systems. The company designs, manufactures, markets, and services lasers, laser tools, precision optics, and related accessories; and laser measurement and control products.
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