The Coherent, Inc. (COHR) Lifted to “Strong-Buy” at Zacks Investment Research

The Coherent, Inc. (COHR) Lifted to “Strong-Buy” at Zacks Investment Research

According to Zacks, “COHERENT INC. designs, manufactures, and supplies electro-optical systems and medical instruments utilizing laser, precision optic and microelectronic technologies. Co. integrates these technologies into a wide variety of products and systems designed to meet the productivity and performance needs of customers. Major markets include the scientific research community; medical institutions, clinics and private practices; lasers also support commercial applications, ranging from semiconductors and disk mastering to light shows and entertainment. “

Coherent, Inc. (NASDAQ:COHR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday, May 15th. The firm currently has a $286.00 target price on the scientific and technical instruments company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.79% from the stock’s previous close.

A number of other brokerages also recently weighed in on COHR. Needham & Company LLC raised their target price on Coherent to $215.00 and gave the company a “buy” rating in a report on Monday, March 13th. Benchmark Co. reiterated a “buy” rating on shares of Coherent in a research note on Wednesday, May 10th. Susquehanna Bancshares Inc initiated coverage on Coherent in a research note on Wednesday, February 15th. They issued a “neutral” rating and a $225.00 price target for the company. Finally, Stifel Nicolaus increased their price target on Coherent from $220.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Coherent presently has a consensus rating of “Buy” and an average target price of $225.17.

Coherent (NASDAQ COHR) opened at 255.83 on Monday. Coherent has a 12 month low of $86.32 and a 12 month high of $260.99. The firm has a 50-day moving average price of $230.61 and a 200 day moving average price of $180.44. The company has a market cap of $6.30 billion, a P/E ratio of 51.84 and a beta of 0.80. Coherent (NASDAQ:COHR) last issued its earnings results on Tuesday, May 9th. The scientific and technical instruments company reported $2.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.55 by $0.16. The firm had revenue of $422.80 million for the quarter, compared to the consensus estimate of $404.36 million. Coherent had a return on equity of 15.22% and a net margin of 9.64%. The company’s revenue was up 111.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.04 EPS. On average, equities analysts expect that Coherent will post $12.34 earnings per share for the current year.

In other Coherent news, VP Bret Dimarco sold 2,903 shares of Coherent stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $225.00, for a total transaction of $653,175.00. Following the completion of the transaction, the vice president now owns 7,401 shares in the company, valued at approximately $1,665,225. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $249.48, for a total value of $124,740.00. Following the transaction, the director now owns 12,000 shares of the company’s stock, valued at approximately $2,993,760. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,777 shares of company stock valued at $9,320,878. 1.40% of the stock is currently owned by company insiders. A number of large investors have recently modified their holdings of the stock. Nationwide Fund Advisors boosted its stake in shares of Coherent by 67.6% in the first quarter. Nationwide Fund Advisors now owns 68,463 shares of the scientific and technical instruments company’s stock worth $14,079,000 after buying an additional 27,602 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in shares of Coherent by 125.5% in the first quarter. Kornitzer Capital Management Inc. KS now owns 33,765 shares of the scientific and technical instruments company’s stock worth $6,943,000 after buying an additional 18,790 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of Coherent during the fourth quarter worth about $701,000. FMR LLC boosted its stake in shares of Coherent by 5,667.7% in the fourth quarter. FMR LLC now owns 178,800 shares of the scientific and technical instruments company’s stock worth $24,565,000 after buying an additional 175,700 shares during the last quarter. Finally, Hanseatic Management Services Inc. raised its position in Coherent by 42.7% in the third quarter. Hanseatic Management Services Inc. now owns 17,315 shares of the scientific and technical instruments company’s stock worth $1,914,000 after buying an additional 5,178 shares during the period. 93.52% of the stock is currently owned by institutional investors and hedge funds.

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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:COHR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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