Insider Selling: Coherent, Inc. (COHR) CEO Sells $6,250,000.00 in Stock
Coherent, Inc. (NASDAQ:COHR) CEO John Ambroseo sold 25,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $250.00, for a total transaction of $6,250,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Coherent, Inc. (NASDAQ:COHR) opened at 253.77 on Friday. The firm has a 50-day moving average of $230.41 and a 200 day moving average of $226.95. Coherent, Inc. has a 52 week low of $100.01 and a 52 week high of $278.39. The company has a market cap of $6.25 billion, a P/E ratio of 38.21 and a beta of 0.76.
Coherent (NASDAQ:COHR) last issued its quarterly earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.45 by ($0.09). The firm had revenue of $464.10 million during the quarter, compared to analyst estimates of $466.90 million. Coherent had a return on equity of 24.98% and a net margin of 11.08%. The firm’s revenue for the quarter was up 112.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 EPS. Equities analysts anticipate that Coherent, Inc. will post $12.27 earnings per share for the current fiscal year.
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COHR has been the topic of a number of research reports. Needham & Company LLC reiterated a “buy” rating and set a $270.00 target price (up from $265.00) on shares of Coherent in a research report on Wednesday, August 2nd. Benchmark Co. reiterated a “buy” rating and set a $290.00 target price (down from $295.00) on shares of Coherent in a research report on Tuesday, August 8th. ValuEngine upgraded shares of Coherent from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research lowered shares of Coherent from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Finally, BidaskClub lowered shares of Coherent from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $291.88.
Several hedge funds and other institutional investors have recently modified their holdings of COHR. Hanson McClain Inc. lifted its position in shares of Coherent by 54.5% in the 1st quarter. Hanson McClain Inc. now owns 709 shares of the scientific and technical instruments company’s stock worth $146,000 after purchasing an additional 250 shares during the period. Bank of Montreal Can increased its stake in shares of Coherent by 11.4% in the 1st quarter. Bank of Montreal Can now owns 812 shares of the scientific and technical instruments company’s stock valued at $167,000 after acquiring an additional 83 shares in the last quarter. Asset Management One Co. Ltd. bought a new stake in shares of Coherent in the 1st quarter valued at $170,000. Smithfield Trust Co. bought a new stake in shares of Coherent in the 2nd quarter valued at $199,000. Finally, Coldstream Capital Management Inc. bought a new stake in shares of Coherent in the 1st quarter valued at $202,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.
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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