First Mercantile Trust Co. cut its stake in Coherent, Inc. (NASDAQ:COHR) by 22.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,134 shares of the scientific and technical instruments company’s stock after selling 337 shares during the period. First Mercantile Trust Co.’s holdings in Coherent were worth $255,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Hanson McClain Inc. raised its stake in Coherent by 54.5% in the first quarter. Hanson McClain Inc. now owns 709 shares of the scientific and technical instruments company’s stock valued at $146,000 after buying an additional 250 shares during the last quarter. Bank of Montreal Can raised its stake in 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 valued at $167,000 after buying an additional 83 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in Coherent during the first quarter valued at about $170,000. Smithfield Trust Co. purchased a new stake in Coherent during the second quarter valued at about $199,000. Finally, Coldstream Capital Management Inc. purchased a new stake in Coherent during the first quarter valued at about $202,000. Hedge funds and other institutional investors own 92.40% of the company’s stock.

Coherent, Inc. (COHR) opened at 218.36 on Monday. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 32.88 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 company’s 50-day moving average is $242.38 and its 200 day moving average is $219.85.

Coherent (NASDAQ:COHR) last released its quarterly earnings data on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 EPS for the quarter, missing the consensus estimate of $3.45 by $0.09. Coherent had a return on equity of 24.98% and a net margin of 11.08%. The business had revenue of $464.10 million during the quarter, compared to the consensus estimate of $466.90 million. During the same quarter in the previous year, the business posted $1.07 earnings per share. Coherent’s quarterly revenue was up 112.1% compared to the same quarter last year. Equities analysts forecast that Coherent, Inc. will post $12.27 earnings per share for the current fiscal year.

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Several analysts have recently issued reports on the stock. Longbow Research reiterated a “buy” rating and issued a $325.00 target price on shares of Coherent in a research note on Monday, June 12th. Benchmark Co. reiterated a “buy” rating and issued a $290.00 target price (down previously from $295.00) on shares of Coherent in a research note on Tuesday, August 8th. Susquehanna Bancshares Inc restated a “neutral” rating and set a $240.00 price target (up previously from $225.00) on shares of Coherent in a research report on Wednesday, May 10th. Zacks Investment Research lowered shares of Coherent from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Finally, Stifel Nicolaus increased their price target on shares of Coherent from $220.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, May 10th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $268.88.

In related news, EVP Mark Stewart Sobey sold 4,904 shares of Coherent stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $243.02, for a total value of $1,191,770.08. Following the completion of the sale, the executive vice president now directly owns 12,397 shares in the company, valued at approximately $3,012,718.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $217.58, for a total value of $108,790.00. Following the completion of the sale, the director now owns 11,500 shares of the company’s stock, valued at $2,502,170. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Coherent Company Profile

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).

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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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