Macquarie Group Ltd. increased its stake in Coherent, Inc. (NASDAQ:COHR) by 205.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,195 shares of the scientific and technical instruments company’s stock after purchasing an additional 10,895 shares during the period. Macquarie Group Ltd. owned 0.07% of Coherent worth $2,533,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Toronto Dominion Bank increased its position in Coherent by 326.7% in the 2nd quarter. Toronto Dominion Bank now owns 640 shares of the scientific and technical instruments company’s stock valued at $100,000 after acquiring an additional 490 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in Coherent in the 2nd quarter valued at approximately $145,000. Point72 Asset Management L.P. acquired a new position in shares of Coherent during the 1st quarter valued at $206,000. Sciencast Management LP acquired a new position in shares of Coherent during the 1st quarter valued at $241,000. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of Coherent by 57.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,332 shares of the scientific and technical instruments company’s stock valued at $250,000 after purchasing an additional 487 shares during the period. 98.58% of the stock is currently owned by institutional investors and hedge funds.
COHR has been the topic of several research analyst reports. Longbow Research cut Coherent from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 9th. ValuEngine cut Coherent from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Zacks Investment Research raised Coherent from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 25th. Needham & Company LLC reduced their price objective on Coherent from $205.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, August 1st. Finally, Northcoast Research lowered Coherent from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Coherent currently has a consensus rating of “Hold” and an average price target of $229.57.
In related news, EVP Mark Stewart Sobey sold 13,000 shares of Coherent stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $181.86, for a total transaction of $2,364,180.00. Following the completion of the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at $3,252,929.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.97% of the stock is currently owned by company insiders.
Shares of Coherent stock opened at $132.57 on Friday. The firm has a market capitalization of $4.18 billion, a PE ratio of 10.55 and a beta of 1.04. The company has a quick ratio of 1.87, a current ratio of 3.28 and a debt-to-equity ratio of 0.34. Coherent, Inc. has a 12 month low of $130.57 and a 12 month high of $329.00.
Coherent (NASDAQ:COHR) last issued its earnings results on Tuesday, July 31st. The scientific and technical instruments company reported $3.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.54 by ($0.03). The business had revenue of $482.00 million during the quarter, compared to analyst estimates of $491.31 million. Coherent had a return on equity of 28.01% and a net margin of 12.84%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the business earned $3.36 EPS. As a group, analysts predict that Coherent, Inc. will post 13.14 earnings per share for the current fiscal year.
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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