Coherent, Inc. (COHR) Position Increased by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. lifted its stake in Coherent, Inc. (NASDAQ:COHR) by 213.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 210,889 shares of the scientific and technical instruments company’s stock after purchasing an additional 143,606 shares during the period. Goldman Sachs Group Inc. owned approximately 0.86% of Coherent worth $47,448,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TD Asset Management Inc. acquired a new stake in shares of Coherent in the first quarter valued at about $567,000. Marshall Wace North America L.P. acquired a new stake in shares of Coherent in the first quarter valued at about $1,597,000. SG Americas Securities LLC lifted its stake in shares of Coherent by 117.8% in the second quarter. SG Americas Securities LLC now owns 6,783 shares of the scientific and technical instruments company’s stock valued at $1,526,000 after purchasing an additional 3,668 shares during the period. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Coherent in the first quarter valued at about $1,613,000. Finally, Stevens Capital Management LP acquired a new stake in shares of Coherent in the second quarter valued at about $4,051,000. Hedge funds and other institutional investors own 90.21% of the company’s stock.

Several analysts recently commented on the stock. Benchmark Co. reiterated a “buy” rating and issued a $290.00 price objective (down previously from $295.00) on shares of Coherent in a research note on Tuesday, August 8th. Barclays PLC assumed coverage on shares of Coherent in a research note on Monday, August 7th. They issued an “overweight” rating and a $285.00 price objective for the company. Zacks Investment Research upgraded shares of Coherent from a “hold” rating to a “strong-buy” rating and set a $270.00 price objective for the company in a research note on Tuesday, October 3rd. UBS AG upgraded shares of Coherent from a “neutral” rating to a “positive” rating in a research note on Thursday, August 3rd. Finally, Susquehanna Bancshares Inc upgraded shares of Coherent from a “neutral” rating to a “positive” rating and raised their price objective for the company from $255.00 to $275.00 in a research note on Thursday, August 3rd. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $293.22.

In other news, Director Stephen A. Skaggs sold 500 shares of the firm’s stock in a transaction dated 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 transaction, 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 SEC, which is accessible through the SEC website. Also, CEO John Ambroseo sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $250.00, for a total transaction of $6,250,000.00. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Coherent, Inc. (COHR) opened at 245.09 on Friday. The firm’s 50-day moving average is $239.03 and its 200-day moving average is $233.45. Coherent, Inc. has a 12 month low of $100.01 and a 12 month high of $281.00. The firm has a market cap of $6.04 billion, a PE ratio of 36.90 and a beta of 0.78.

Coherent (NASDAQ:COHR) last posted its quarterly earnings data on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.45 by ($0.09). Coherent had a net margin of 11.08% and a return on equity of 24.98%. The business had revenue of $464.10 million for the quarter, compared to the consensus estimate of $466.90 million. During the same quarter last year, the business posted $1.07 EPS. The business’s revenue for the quarter was up 112.1% on a year-over-year basis. Equities analysts expect that Coherent, Inc. will post $12.27 earnings per share for the current year.

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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).

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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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