DekaBank Deutsche Girozentrale boosted its position in shares of Coherent, Inc. (NASDAQ:COHR) by 47.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 206,700 shares of the scientific and technical instruments company’s stock after purchasing an additional 66,610 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.85% of Coherent worth $39,062,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in shares of Coherent by 2.0% in the first quarter. Principal Financial Group Inc. now owns 108,638 shares of the scientific and technical instruments company’s stock valued at $20,359,000 after purchasing an additional 2,170 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Coherent by 5,135.6% in the second quarter. Steward Partners Investment Advisory LLC now owns 2,356 shares of the scientific and technical instruments company’s stock valued at $369,000 after purchasing an additional 2,311 shares in the last quarter. Aurora Investment Counsel purchased a new stake in shares of Coherent in the second quarter valued at $1,003,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Coherent by 76.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,102 shares of the scientific and technical instruments company’s stock valued at $642,000 after purchasing an additional 1,774 shares in the last quarter. Finally, Tealwood Asset Management Inc. lifted its holdings in shares of Coherent by 13.1% in the second quarter. Tealwood Asset Management Inc. now owns 19,614 shares of the scientific and technical instruments company’s stock valued at $3,068,000 after purchasing an additional 2,267 shares in the last quarter.
In related news, Director Pamela Fletcher sold 458 shares of the stock in a transaction on Friday, November 9th. The stock was sold at an average price of $132.75, for a total transaction of $60,799.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is currently owned by company insiders.
Coherent (NASDAQ:COHR) last announced its quarterly earnings data on Tuesday, November 6th. The scientific and technical instruments company reported $3.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.96 by $0.26. Coherent had a return on equity of 25.89% and a net margin of 13.00%. The business had revenue of $461.50 million during the quarter, compared to analyst estimates of $460.60 million. During the same period last year, the company earned $3.72 earnings per share. Coherent’s quarterly revenue was down 5.9% compared to the same quarter last year. Analysts anticipate that Coherent, Inc. will post 10.37 earnings per share for the current year.
A number of analysts have recently issued reports on COHR shares. Longbow Research lowered Coherent from a “buy” rating to a “neutral” rating in a report on Tuesday, October 9th. ValuEngine lowered Coherent from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Benchmark reduced their target price on Coherent from $216.00 to $212.00 and set a “buy” rating for the company in a report on Wednesday, November 7th. Berenberg Bank started coverage on Coherent in a report on Wednesday, November 14th. They issued a “buy” rating for the company. Finally, Northcoast Research lowered Coherent from a “buy” rating to a “hold” rating in a report on Monday, October 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $218.00.
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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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