Intrust Bank NA cut its position in Coherent, Inc. (NASDAQ:COHR) by 7.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,190 shares of the scientific and technical instruments company’s stock after selling 89 shares during the period. Intrust Bank NA’s holdings in Coherent were worth $267,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Miles Capital Inc. raised its position in shares of Coherent by 0.3% in the first quarter. Miles Capital Inc. now owns 1,599 shares of the scientific and technical instruments company’s stock worth $329,000 after buying an additional 5 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Coherent by 0.3% in the second quarter. Teacher Retirement System of Texas now owns 1,966 shares of the scientific and technical instruments company’s stock worth $442,000 after buying an additional 5 shares during the last quarter. Bank of Montreal Can raised its position in shares of 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 worth $167,000 after buying an additional 83 shares during the last quarter. Creative Planning raised its position in shares of Coherent by 8.3% in the second quarter. Creative Planning now owns 1,207 shares of the scientific and technical instruments company’s stock worth $272,000 after buying an additional 92 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of Coherent by 1.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 6,300 shares of the scientific and technical instruments company’s stock worth $1,296,000 after buying an additional 120 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors.

Shares of Coherent, Inc. (NASDAQ COHR) opened at 227.80 on Thursday. The stock’s 50 day moving average is $241.26 and its 200 day moving average is $222.09. Coherent, Inc. has a 1-year low of $100.01 and a 1-year high of $278.39. The company has a market cap of $5.61 billion, a P/E ratio of 34.30 and a beta of 0.72.

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

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Several research analysts recently commented on COHR shares. Benchmark Co. reiterated a “buy” rating and issued a $290.00 price target (down previously from $295.00) on shares of Coherent in a research report on Tuesday, August 8th. Zacks Investment Research lowered Coherent from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Barclays PLC started coverage on Coherent in a research report on Monday, August 7th. They issued an “overweight” rating and a $285.00 price target for the company. Susquehanna Bancshares Inc upgraded Coherent from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $255.00 to $275.00 in a research report on Thursday, August 3rd. Finally, UBS AG upgraded Coherent from a “neutral” rating to a “positive” rating in a research report on Thursday, August 3rd. One 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 an average target price of $268.88.

In other Coherent news, Director Stephen A. Skaggs sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $217.58, for a total transaction of $108,790.00. Following the completion of the sale, the director now directly owns 11,500 shares in the company, valued at $2,502,170. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.40% of the stock is owned by insiders.

About Coherent

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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