Tributary Capital Management LLC reduced its position in Coherent, Inc. (NASDAQ:COHR) by 52.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 50,012 shares of the scientific and technical instruments company’s stock after selling 56,259 shares during the period. Tributary Capital Management LLC owned 0.20% of Coherent worth $11,252,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Miles Capital Inc. boosted its position in shares of Coherent by 0.3% in the first quarter. Miles Capital Inc. now owns 1,599 shares of the scientific and technical instruments company’s stock worth $329,000 after buying an additional 5 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Coherent by 11.4% in the first quarter. Bank of Montreal Can now owns 812 shares of the scientific and technical instruments company’s stock worth $167,000 after buying an additional 83 shares during the last quarter. Creative Planning boosted its position in shares of Coherent by 8.3% in the second quarter. Creative Planning now owns 1,207 shares of the scientific and technical instruments company’s stock worth $272,000 after buying an additional 92 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of Coherent by 1.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 6,300 shares of the scientific and technical instruments company’s stock worth $1,296,000 after buying an additional 120 shares during the last quarter. Finally, Amalgamated Bank boosted its position in shares of Coherent by 3.8% in the first quarter. Amalgamated Bank now owns 3,332 shares of the scientific and technical instruments company’s stock worth $685,000 after buying an additional 121 shares during the last quarter. Institutional investors own 92.94% of the company’s stock.

Shares of Coherent, Inc. (NASDAQ:COHR) opened at 210.99 on Monday. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 31.77 and a beta of 0.72. Coherent, Inc. has a 52 week low of $100.01 and a 52 week high of $278.39. The stock’s 50 day moving average is $250.07 and its 200-day moving average is $215.08.

Coherent (NASDAQ:COHR) last posted its quarterly earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.45 by $0.09. The company had revenue of $464.10 million during the quarter, compared to analysts’ expectations of $466.90 million. Coherent had a return on equity of 24.98% and a net margin of 11.08%. The company’s quarterly revenue was up 112.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.07 EPS. On average, equities analysts anticipate that Coherent, Inc. will post $12.44 earnings per share for the current year.

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A number of brokerages recently commented on COHR. ValuEngine cut shares of Coherent from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Susquehanna Bancshares Inc upgraded shares of Coherent from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $255.00 to $275.00 in a research report on Thursday. Barclays PLC started coverage on shares of Coherent in a research report on Monday. They issued an “overweight” rating on the stock. Longbow Research restated a “buy” rating and issued a $325.00 price objective on shares of Coherent in a research report on Wednesday, June 28th. Finally, Benchmark Co. restated a “buy” rating on shares of Coherent in a research report on Wednesday, May 10th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Coherent presently has a consensus rating of “Buy” and a consensus price target of $266.57.

In other Coherent news, EVP Mark Stewart Sobey sold 4,904 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $243.02, for a total transaction of $1,191,770.08. Following the transaction, the executive vice president now owns 12,397 shares of the company’s stock, valued at approximately $3,012,718.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Ambroseo sold 24,970 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $248.08, for a total transaction of $6,194,557.60. The disclosure for this sale can be found here. Insiders sold a total of 34,874 shares of company stock worth $8,667,703 in the last ninety days. 1.40% of the stock is currently owned by insiders.

About Coherent

Coherent, Inc is a photonics manufacturer. The Company is engaged in designing, manufacturing, servicing and marketing of lasers and related accessories for a range of scientific, commercial and industrial applications. It operates through two segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).

Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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