Coherent, Inc. (NASDAQ:COHR) Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction on Monday, August 14th. The shares were sold at an average price of $217.58, for a total value of $108,790.00. Following the completion of the sale, the director now owns 11,500 shares in the company, valued at approximately $2,502,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Coherent, Inc. (NASDAQ COHR) traded up 1.52% during midday trading on Friday, hitting $218.36. The stock had a trading volume of 488,742 shares. Coherent, Inc. has a 12-month low of $100.01 and a 12-month high of $278.39. The stock has a market cap of $5.38 billion, a P/E ratio of 32.88 and a beta of 0.72. The stock has a 50-day moving average price of $242.38 and a 200-day moving average price of $219.85.
Coherent (NASDAQ:COHR) last posted its quarterly earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 EPS for the quarter, missing the Zacks’ consensus estimate of $3.45 by $0.09. The firm had revenue of $464.10 million during the quarter, compared to analyst estimates of $466.90 million. Coherent had a return on equity of 24.98% and a net margin of 11.08%. The firm’s revenue for the quarter was up 112.1% on a year-over-year basis. During the same quarter last year, the business posted $1.07 earnings per share. Equities analysts forecast that Coherent, Inc. will post $12.27 earnings per share for the current year.
ILLEGAL ACTIVITY WARNING: This news story was reported by BNB Daily and is the property of of BNB Daily. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright law. The legal version of this news story can be read at https://www.baseball-news-blog.com/2017/08/19/stephen-a-skaggs-sells-500-shares-of-coherent-inc-cohr-stock.html.
A number of institutional investors have recently modified their holdings of COHR. Hanson McClain Inc. boosted its position in shares of Coherent by 54.5% in the first quarter. Hanson McClain Inc. now owns 709 shares of the scientific and technical instruments company’s stock worth $146,000 after buying an additional 250 shares in the last quarter. Bank of Montreal Can boosted 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 in the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Coherent during the first quarter worth about $170,000. Smithfield Trust Co. acquired a new position in shares of Coherent during the second quarter worth about $199,000. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Coherent during the second quarter worth about $202,000. 92.40% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have commented on COHR. Longbow Research restated a “buy” rating and issued a $325.00 target price on shares of Coherent in a research report on Monday, June 12th. Benchmark Co. restated a “buy” rating and issued a $290.00 target price (down previously from $295.00) on shares of Coherent in a research report on Tuesday, August 8th. Susquehanna Bancshares Inc restated a “neutral” rating and issued a $240.00 target price (up previously from $225.00) on shares of Coherent in a research report on Wednesday, May 10th. Zacks Investment Research cut Coherent from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Finally, Stifel Nicolaus lifted their price objective on Coherent from $220.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $268.88.
Coherent Company Profile
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).
Receive News & Ratings for Coherent Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherent Inc. and related companies with MarketBeat.com's FREE daily email newsletter.