Sheets Smith Wealth Management purchased a new position in shares of Coherent, Inc. (NASDAQ:COHR) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 2,171 shares of the scientific and technical instruments company’s stock, valued at approximately $613,000.

Several other hedge funds have also recently added to or reduced their stakes in COHR. Coldstream Capital Management Inc. increased its holdings in shares of Coherent by 3.1% during the 2nd quarter. Coldstream Capital Management Inc. now owns 1,010 shares of the scientific and technical instruments company’s stock worth $227,000 after buying an additional 30 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Coherent by 97.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,064 shares of the scientific and technical instruments company’s stock worth $238,000 after buying an additional 524 shares during the last quarter. Flinton Capital Management LLC increased its holdings in shares of Coherent by 73.8% during the 2nd quarter. Flinton Capital Management LLC now owns 1,168 shares of the scientific and technical instruments company’s stock worth $263,000 after buying an additional 496 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Coherent by 10.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,206 shares of the scientific and technical instruments company’s stock worth $271,000 after buying an additional 117 shares during the last quarter. Finally, Balyasny Asset Management LLC acquired a new stake in shares of Coherent during the 2nd quarter worth $271,000. Institutional investors and hedge funds own 96.90% of the company’s stock.

Shares of Coherent, Inc. (COHR) opened at $301.57 on Friday. Coherent, Inc. has a twelve month low of $143.74 and a twelve month high of $320.73. The stock has a market capitalization of $7,480.00, a price-to-earnings ratio of 35.86 and a beta of 0.82. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.13 and a quick ratio of 2.14.

Coherent (NASDAQ:COHR) last announced its quarterly earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.24. Coherent had a return on equity of 28.53% and a net margin of 12.02%. The firm had revenue of $490.00 million during the quarter, compared to the consensus estimate of $475.24 million. During the same period in the prior year, the firm earned $1.65 EPS. The firm’s quarterly revenue was up 97.2% compared to the same quarter last year. equities analysts anticipate that Coherent, Inc. will post 15.56 earnings per share for the current year.

A number of research firms have recently commented on COHR. Needham & Company LLC upped their price objective on Coherent from $270.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Zacks Investment Research upgraded Coherent from a “hold” rating to a “strong-buy” rating and set a $270.00 price objective for the company in a report on Tuesday, October 3rd. Summit Redstone restated a “buy” rating and set a $320.00 price objective on shares of Coherent in a report on Saturday, September 23rd. Benchmark upped their price objective on Coherent from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Finally, Stifel Nicolaus upped their price objective on Coherent from $290.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $319.22.

In related news, Director Sandeep Vij sold 4,400 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $292.79, for a total value of $1,288,276.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Bret Dimarco sold 5,819 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $294.75, for a total value of $1,715,150.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,788 shares of company stock valued at $5,901,628. 1.40% of the stock is owned by insiders.

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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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