Coherent (COHR) PT Lowered to $212.00 at Benchmark

Coherent (NASDAQ:COHR) had its price objective decreased by Benchmark from $216.00 to $212.00 in a research note published on Wednesday. Benchmark currently has a buy rating on the scientific and technical instruments company’s stock.

A number of other equities analysts have also recently issued reports on COHR. BidaskClub upgraded Coherent from a sell rating to a hold rating in a report on Wednesday, July 11th. Stifel Nicolaus lowered their target price on Coherent from $218.00 to $214.00 and set a buy rating for the company in a report on Friday, July 27th. Zacks Investment Research cut Coherent from a hold rating to a strong sell rating in a report on Tuesday, July 31st. ValuEngine upgraded Coherent from a sell rating to a hold rating in a report on Tuesday, July 31st. Finally, Needham & Company LLC lowered their target price on Coherent from $205.00 to $190.00 and set a buy rating for the company in a report on Wednesday, August 1st. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Coherent currently has a consensus rating of Hold and an average price target of $218.00.

COHR stock traded down $4.32 during trading hours on Wednesday, reaching $131.30. 293,601 shares of the stock were exchanged, compared to its average volume of 565,062. The stock has a market cap of $3.30 billion, a PE ratio of 10.37 and a beta of 1.37. The company has a current ratio of 3.32, a quick ratio of 1.87 and a debt-to-equity ratio of 0.34. Coherent has a 12 month low of $115.53 and a 12 month high of $329.00.

Coherent (NASDAQ:COHR) last released its earnings results on Tuesday, November 6th. The scientific and technical instruments company reported $3.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.96 by $0.26. The firm had revenue of $461.50 million during the quarter, compared to analysts’ expectations of $460.60 million. Coherent had a return on equity of 25.89% and a net margin of 13.00%. The company’s revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.72 EPS. On average, analysts forecast that Coherent will post 11.43 earnings per share for the current fiscal year.

In other news, EVP Mark Stewart Sobey sold 13,000 shares of the firm’s stock in a transaction dated 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 owns 17,887 shares in the company, valued at approximately $3,252,929.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board grew its holdings in shares of Coherent by 54.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 30,800 shares of the scientific and technical instruments company’s stock valued at $5,303,000 after acquiring an additional 10,800 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Coherent by 47.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 206,700 shares of the scientific and technical instruments company’s stock valued at $39,062,000 after acquiring an additional 66,610 shares in the last quarter. FMR LLC grew its holdings in shares of Coherent by 2.8% in the 3rd quarter. FMR LLC now owns 24,153 shares of the scientific and technical instruments company’s stock valued at $4,159,000 after acquiring an additional 653 shares in the last quarter. AXA bought a new position in shares of Coherent in the 3rd quarter valued at about $499,000. Finally, Eagle Asset Management Inc. grew its holdings in shares of Coherent by 3.8% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,183,207 shares of the scientific and technical instruments company’s stock valued at $203,736,000 after acquiring an additional 43,428 shares in the last quarter. Institutional investors own 98.77% of the company’s stock.

About Coherent

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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