Coherent, Inc. (NASDAQ:COHR) Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB grew its position in Coherent, Inc. (NASDAQ:COHR) by 13.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,389 shares of the scientific and technical instruments company’s stock after purchasing 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 quarter.

Several other hedge funds have also recently made changes to their positions in COHR. Bank of Montreal Can increased its holdings in shares of Coherent by 330.5% in the second quarter. Bank of Montreal Can now owns 3,496 shares of the scientific and technical instruments company’s stock valued at $788,000 after purchasing an additional 2,684 shares during the period. Public Employees Retirement Association of Colorado boosted its stake in shares of Coherent by 15.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 5,738 shares of the scientific and technical instruments company’s stock worth $1,291,000 after buying an additional 769 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Coherent by 74.8% in the second quarter. Great West Life Assurance Co. Can now owns 25,518 shares of the scientific and technical instruments company’s stock worth $5,733,000 after buying an additional 10,917 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Coherent in the second quarter worth about $202,000. Finally, World Asset Management Inc boosted its stake in shares of Coherent by 17.2% in the second quarter. World Asset Management Inc now owns 1,776 shares of the scientific and technical instruments company’s stock worth $400,000 after buying an additional 261 shares during the last quarter. 96.90% of the stock is currently owned by institutional investors and hedge funds.

In other Coherent news, EVP Paul F. Sechrist sold 1,002 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $288.88, for a total transaction of $289,457.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Bret Dimarco sold 5,819 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $294.75, for a total value of $1,715,150.25. The disclosure for this sale can be found here. Insiders have sold 18,416 shares of company stock worth $5,490,028 in the last quarter. 1.40% of the stock is currently owned by company insiders.

A number of analysts have recently commented on the company. Stifel Nicolaus upped their target price on Coherent from $290.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Benchmark upped their target price on Coherent from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Susquehanna Bancshares restated a “positive” rating and issued a $275.00 target price on shares of Coherent in a research note on Tuesday, September 5th. Barclays upped their target price on Coherent from $285.00 to $315.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 8th. Finally, Summit Redstone restated a “buy” rating and issued a $320.00 target price on shares of Coherent in a research note on Saturday, September 23rd. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Coherent presently has a consensus rating of “Buy” and a consensus target price of $309.89.

Shares of Coherent, Inc. (COHR) traded down $3.98 during mid-day trading on Friday, reaching $282.22. The company’s stock had a trading volume of 239,608 shares, compared to its average volume of 319,254. The stock has a market capitalization of $7,103.22, a P/E ratio of 33.84 and a beta of 0.81. The company has a quick ratio of 2.14, a current ratio of 3.13 and a debt-to-equity ratio of 0.51. Coherent, Inc. has a 52 week low of $135.74 and a 52 week high of $320.73.

Coherent (NASDAQ:COHR) last issued its quarterly earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.48 by $0.24. The company had revenue of $490.00 million for the quarter, compared to the consensus estimate of $475.24 million. Coherent had a return on equity of 28.53% and a net margin of 12.02%. Coherent’s revenue for the quarter was up 97.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.65 earnings per share. equities research analysts anticipate that Coherent, Inc. will post 15.56 EPS 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).

Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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