Coherent, Inc. (NASDAQ:COHR) VP Bret Dimarco sold 2,903 shares of the firm’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $225.00, for a total transaction of $653,175.00. Following the transaction, the vice president now owns 7,401 shares of the company’s stock, valued at $1,665,225. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Coherent, Inc. (NASDAQ:COHR) traded down 2.41% during trading on Friday, reaching $244.39. 106,922 shares of the company’s stock traded hands. The company has a 50-day moving average of $207.02 and a 200 day moving average of $164.38. Coherent, Inc. has a 12 month low of $81.00 and a 12 month high of $255.04. The stock has a market capitalization of $6.00 billion, a P/E ratio of 61.42 and a beta of 0.80.
Coherent (NASDAQ:COHR) last issued its earnings results on Tuesday, May 9th. The scientific and technical instruments company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.16. The company had revenue of $422.80 million for the quarter, compared to the consensus estimate of $404.36 million. Coherent had a return on equity of 15.22% and a net margin of 9.64%. The firm’s quarterly revenue was up 111.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 EPS. On average, equities research analysts expect that Coherent, Inc. will post $11.96 earnings per share for the current fiscal year.
Several research firms have weighed in on COHR. Benchmark Co. restated a “buy” rating on shares of Coherent in a report on Wednesday. Needham & Company LLC raised their target price on shares of Coherent to $215.00 and gave the company a “buy” rating in a report on Monday, March 13th. Susquehanna Bancshares Inc restated a “neutral” rating and set a $240.00 target price (up from $225.00) on shares of Coherent in a report on Wednesday. Stifel Nicolaus raised their target price on shares of Coherent from $220.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Zacks Investment Research downgraded shares of Coherent from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 11th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $214.50.
Several institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. increased its position in shares of Coherent by 1,420.6% in the first quarter. Alliancebernstein L.P. now owns 556,538 shares of the scientific and technical instruments company’s stock worth $114,446,000 after buying an additional 519,939 shares in the last quarter. Norges Bank acquired a new position in shares of Coherent during the fourth quarter worth $30,865,000. FMR LLC increased its position in shares of Coherent by 124.3% in the first quarter. FMR LLC now owns 401,039 shares of the scientific and technical instruments company’s stock worth $82,470,000 after buying an additional 222,239 shares in the last quarter. Janus Capital Management LLC acquired a new position in shares of Coherent during the fourth quarter worth $21,894,000. Finally, Citadel Advisors LLC acquired a new position in shares of Coherent during the third quarter worth $15,660,000. Institutional investors own 93.52% of the company’s stock.
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).