Shares of Coherent, Inc. (NASDAQ:COHR) have been given an average recommendation of “Buy” by the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $233.13.

Several brokerages recently issued reports on COHR. Longbow Research set a $215.00 price objective on Coherent and gave the stock a “buy” rating in a report on Thursday, August 23rd. Northcoast Research reaffirmed a “buy” rating and set a $217.00 price objective on shares of Coherent in a report on Thursday, August 2nd. Needham & Company LLC reduced their price objective on Coherent from $205.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, August 1st. Benchmark reaffirmed a “buy” rating and set a $216.00 price objective (down from $242.00) on shares of Coherent in a report on Wednesday, August 1st. Finally, ValuEngine raised Coherent from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st.

In other news, EVP Mark Stewart Sobey sold 13,000 shares of the business’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $181.86, for a total value of $2,364,180.00. Following the completion of the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $3,252,929.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.97% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Preferred LLC acquired a new position in shares of Coherent in the first quarter worth $113,000. Toronto Dominion Bank raised its holdings in shares of Coherent by 326.7% in the second quarter. Toronto Dominion Bank now owns 640 shares of the scientific and technical instruments company’s stock worth $100,000 after acquiring an additional 490 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Coherent in the second quarter worth $145,000. Silvant Capital Management LLC acquired a new position in shares of Coherent in the first quarter worth $174,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Coherent in the first quarter worth $206,000. 98.59% of the stock is owned by institutional investors.

Shares of Coherent stock traded up $0.43 during trading on Tuesday, reaching $191.03. The company’s stock had a trading volume of 295,600 shares, compared to its average volume of 550,948. The company has a market cap of $4.63 billion, a PE ratio of 15.09 and a beta of 1.04. Coherent has a 12-month low of $145.66 and a 12-month high of $329.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.28 and a quick ratio of 1.87.

Coherent (NASDAQ:COHR) last issued its quarterly earnings data on Tuesday, July 31st. The scientific and technical instruments company reported $3.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.54 by ($0.03). The firm had revenue of $482.00 million for the quarter, compared to analyst estimates of $491.31 million. Coherent had a return on equity of 28.01% and a net margin of 12.84%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.36 earnings per share. equities research analysts anticipate that Coherent will post 13.14 EPS for the current fiscal year.

Coherent Company Profile

Coherent, Inc provides lasers and laser-based technology in a range of scientific, commercial, and industrial applications worldwide. It operates through two segments, Specialty Lasers and Systems, and Commercial Lasers and Components. The company designs, manufactures, services, and markets lasers, laser tools, precision optics, and related accessories.

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Analyst Recommendations for Coherent (NASDAQ:COHR)

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