Coherent, Inc. (COHR) Holdings Increased by Nordea Investment Management AB

Nordea Investment Management AB boosted its position in Coherent, Inc. (NASDAQ:COHR) by 13.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,389 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,145 shares during the period. Nordea Investment Management AB’s holdings in Coherent were worth $2,208,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. TD Asset Management Inc. grew its stake in Coherent by 10.6% in the 3rd quarter. TD Asset Management Inc. now owns 111,933 shares of the scientific and technical instruments company’s stock worth $26,323,000 after acquiring an additional 10,741 shares during the period. TimesSquare Capital Management LLC purchased a new stake in Coherent in the 3rd quarter worth approximately $16,791,000. Albion Financial Group UT grew its stake in Coherent by 249.4% in the 3rd quarter. Albion Financial Group UT now owns 18,820 shares of the scientific and technical instruments company’s stock worth $4,426,000 after acquiring an additional 13,434 shares during the period. Icon Advisers Inc. Co. grew its stake in Coherent by 250.2% in the 3rd quarter. Icon Advisers Inc. Co. now owns 9,784 shares of the scientific and technical instruments company’s stock worth $2,301,000 after acquiring an additional 6,990 shares during the period. Finally, Harbour Capital Advisors LLC grew its stake in Coherent by 57.6% in the 3rd quarter. Harbour Capital Advisors LLC now owns 2,135 shares of the scientific and technical instruments company’s stock worth $502,000 after acquiring an additional 780 shares during the period. 97.06% of the stock is owned by hedge funds and other institutional investors.

Shares of Coherent, Inc. (COHR) opened at $284.20 on Thursday. Coherent, Inc. has a 12 month low of $128.21 and a 12 month high of $320.73. The stock has a market cap of $6,998.98, a price-to-earnings ratio of 23.72 and a beta of 0.81. The company has a current ratio of 3.13, a quick ratio of 2.14 and a debt-to-equity ratio of 0.51.

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

Several brokerages have recently issued reports on COHR. Stifel Nicolaus boosted their price objective on shares of Coherent from $290.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Benchmark boosted their price objective on shares of Coherent from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Needham & Company LLC boosted their price objective on shares of Coherent from $270.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Summit Redstone reissued a “buy” rating and set a $320.00 price objective on shares of Coherent in a research note on Saturday, September 23rd. Finally, Northcoast Research reissued a “buy” rating and set a $314.00 price objective (up from $311.00) on shares of Coherent in a research note on Tuesday, September 12th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Coherent currently has a consensus rating of “Buy” and an average target price of $309.89.

In related news, EVP Paul F. Sechrist sold 1,002 shares of Coherent stock in a transaction on Friday, December 1st. The shares were sold at an average price of $288.88, for a total transaction of $289,457.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction on Monday, November 13th. The shares were sold at an average price of $308.97, for a total transaction of $154,485.00. Following the transaction, the director now owns 11,000 shares in the company, valued at approximately $3,398,670. The disclosure for this sale can be found here. Insiders have sold a total of 43,416 shares of company stock worth $11,740,028 in the last 90 days. Company insiders own 1.40% of the company’s stock.

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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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