Coherent Inc. (COHR) EVP Sells $546,567.00 in Stock
Coherent Inc. (NASDAQ:COHR) EVP Mark Stewart Sobey sold 4,593 shares of the stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $119.00, for a total value of $546,567.00. Following the sale, the executive vice president now owns 18,020 shares in the company, valued at $2,144,380. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Coherent Inc. (NASDAQ:COHR) opened at 126.32 on Tuesday. Coherent Inc. has a one year low of $56.72 and a one year high of $127.98. The company has a market capitalization of $3.06 billion, a PE ratio of 35.28 and a beta of 0.69. The company has a 50-day moving average price of $109.96 and a 200-day moving average price of $101.15.
Coherent (NASDAQ:COHR) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $1.65 EPS for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.13. The company earned $248.50 million during the quarter, compared to the consensus estimate of $241.76 million. Coherent had a net margin of 10.21% and a return on equity of 11.69%. Coherent’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 EPS. Analysts expect that Coherent Inc. will post $7.75 earnings per share for the current fiscal year.
Several equities analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $145.00 price target (up from $130.00) on shares of Coherent in a report on Monday. Benchmark Co. reissued a “buy” rating and set a $125.00 price target (up from $112.00) on shares of Coherent in a report on Thursday, November 10th. Zacks Investment Research raised Coherent from a “hold” rating to a “strong-buy” rating and set a $134.00 price target on the stock in a report on Tuesday, November 8th. Stifel Nicolaus increased their price target on Coherent from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Finally, Northcoast Research assumed coverage on Coherent in a report on Tuesday, October 25th. They set a “buy” rating and a $130.00 price target on the stock. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $120.67.
Several hedge funds have recently bought and sold shares of the stock. Systematic Financial Management LP boosted its position in Coherent by 79.8% in the second quarter. Systematic Financial Management LP now owns 663,537 shares of the company’s stock worth $60,899,000 after buying an additional 294,427 shares during the last quarter. Eagle Asset Management Inc. raised its stake in Coherent by 13.6% in the third quarter. Eagle Asset Management Inc. now owns 1,613,812 shares of the company’s stock worth $178,390,000 after buying an additional 193,103 shares during the period. Westwood Management Corp IL acquired a new stake in Coherent during the third quarter worth about $21,069,000. Citadel Advisors LLC acquired a new stake in Coherent during the third quarter worth about $15,660,000. Finally, Elk Creek Partners LLC acquired a new stake in Coherent during the second quarter worth about $12,616,000. 95.04% of the stock is owned by institutional investors and hedge funds.
Coherent Company Profile
Coherent, Inc is a supplier of photonics-based solutions in a range of commercial and scientific research applications. The Company designs, manufactures, services and markets lasers, laser tools and related accessories for a diverse group of customers. It operates through two operating segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).
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