Coherent, Inc. (COHR) Shares Bought by Pacer Advisors Inc.
Pacer Advisors Inc. raised its stake in shares of Coherent, Inc. (NASDAQ:COHR) by 35.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,459 shares of the scientific and technical instruments company’s stock after buying an additional 1,155 shares during the period. Pacer Advisors Inc.’s holdings in Coherent were worth $1,049,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. Epoch Investment Partners Inc. boosted its position in shares of Coherent by 66.4% during the 2nd quarter. Epoch Investment Partners Inc. now owns 929,623 shares of the scientific and technical instruments company’s stock valued at $209,157,000 after purchasing an additional 370,993 shares in the last quarter. Koch Industries Inc. bought a new position in shares of Coherent during the 2nd quarter valued at about $354,000. Harbour Capital Advisors LLC boosted its position in shares of Coherent by 28,934.4% during the 2nd quarter. Harbour Capital Advisors LLC now owns 304,861 shares of the scientific and technical instruments company’s stock valued at $1,355,000 after purchasing an additional 303,811 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Coherent by 213.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 210,889 shares of the scientific and technical instruments company’s stock valued at $47,448,000 after purchasing an additional 143,606 shares in the last quarter. Finally, Pictet Asset Management Ltd. bought a new position in shares of Coherent during the 3rd quarter valued at about $25,361,000. 89.89% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the stock. Benchmark Co. restated a “buy” rating and set a $290.00 price objective (down previously from $295.00) on shares of Coherent in a research report on Tuesday, August 8th. Barclays PLC assumed coverage on shares of Coherent in a research report on Monday, August 7th. They set an “overweight” rating and a $285.00 price objective for the company. UBS Group AG upgraded shares of Coherent from a “neutral” rating to a “positive” rating in a research report on Thursday, August 3rd. Zacks Investment Research lowered shares of Coherent from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Finally, Susquehanna Bancshares Inc upgraded shares of Coherent from a “neutral” rating to a “positive” rating and raised their price objective for the company from $255.00 to $275.00 in a research report on Thursday, August 3rd. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Coherent currently has a consensus rating of “Buy” and a consensus price target of $309.89.
Coherent, Inc. (COHR) opened at $314.83 on Friday. Coherent, Inc. has a fifty-two week low of $124.94 and a fifty-two week high of $320.73. The company has a market cap of $7,754.72, a PE ratio of 26.48 and a beta of 0.79. The company has a quick ratio of 2.14, a current ratio of 3.13 and a debt-to-equity ratio of 0.61.
Coherent (NASDAQ:COHR) last announced its earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 EPS for the quarter, topping the consensus estimate of $3.48 by $0.24. Coherent had a net margin of 12.02% and a return on equity of 28.53%. The company had revenue of $490.00 million during the quarter, compared to analysts’ expectations of $475.24 million. During the same period last year, the company posted $1.65 earnings per share. The business’s revenue for the quarter was up 97.2% on a year-over-year basis. sell-side analysts predict that Coherent, Inc. will post 15.56 EPS for the current year.
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In other Coherent news, Director Stephen A. Skaggs sold 500 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $308.97, for a total value of $154,485.00. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at $3,398,670. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John Ambroseo sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $250.00, for a total transaction of $6,250,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,414 shares of company stock valued at $11,450,570. Corporate insiders own 1.40% 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).
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