Insider Selling: Coherent Inc. (COHR) VP Sells $594,120.00 in Stock
Coherent Inc. (NASDAQ:COHR) VP Bret Dimarco sold 4,951 shares of the stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $120.00, for a total value of $594,120.00. Following the completion of the transaction, the vice president now owns 13,603 shares in the company, valued at approximately $1,632,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Bret Dimarco also recently made the following trade(s):
- On Monday, October 3rd, Bret Dimarco sold 953 shares of Coherent stock. The stock was sold at an average price of $109.75, for a total value of $104,591.75.
Shares of Coherent Inc. (NASDAQ:COHR) opened at 126.32 on Tuesday. Coherent Inc. has a 52 week low of $56.72 and a 52 week high of $127.98. The firm has a market cap of $3.06 billion, a P/E ratio of 35.28 and a beta of 0.69. The stock has a 50 day moving average of $109.96 and a 200 day moving average of $101.15.
Coherent (NASDAQ:COHR) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $1.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.13. Coherent had a return on equity of 11.69% and a net margin of 10.21%. The business had revenue of $248.50 million for the quarter, compared to analysts’ expectations of $241.76 million. During the same quarter in the previous year, the business posted $1.25 EPS. Coherent’s revenue for the quarter was up 18.5% on a year-over-year basis. Equities analysts forecast that Coherent Inc. will post $7.75 earnings per share for the current year.
COHR has been the topic of several analyst reports. 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. Benchmark Co. lowered their price target on Coherent from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Zacks Investment Research upgraded Coherent from a “hold” rating to a “strong-buy” rating and set a $123.00 price target on the stock in a report on Monday, August 1st. Northcoast Research initiated coverage on Coherent in a report on Tuesday, October 25th. They set a “buy” rating and a $130.00 price target on the stock. Finally, Needham & Company LLC increased their price target on Coherent from $115.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, November 3rd. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $120.67.
Several institutional investors have recently added to or reduced their stakes in COHR. Panagora Asset Management Inc. boosted its position in Coherent by 22.0% in the first quarter. Panagora Asset Management Inc. now owns 142,848 shares of the company’s stock valued at $13,128,000 after buying an additional 25,795 shares during the period. Barclays PLC boosted its stake in Coherent by 0.3% in the first quarter. Barclays PLC now owns 44,114 shares of the company’s stock valued at $4,014,000 after buying an additional 114 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Coherent during the first quarter valued at approximately $229,000. Bayesian Capital Management LP purchased a new stake in Coherent during the first quarter valued at approximately $324,000. Finally, Invictus RG purchased a new stake in Coherent during the first quarter valued at approximately $284,000. Institutional investors and hedge funds own 95.04% of the company’s stock.
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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