New York State Common Retirement Fund boosted its position in shares of Coherent, Inc. (NASDAQ:COHR) by 20.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 199,233 shares of the scientific and technical instruments company’s stock after acquiring an additional 33,508 shares during the quarter. New York State Common Retirement Fund owned about 0.81% of Coherent worth $46,854,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Sei Investments Co. lifted its position in Coherent by 64.8% during the 3rd quarter. Sei Investments Co. now owns 27,777 shares of the scientific and technical instruments company’s stock worth $6,532,000 after acquiring an additional 10,919 shares during the period. FDx Advisors Inc. lifted its position in Coherent by 13.3% during the 3rd quarter. FDx Advisors Inc. now owns 4,086 shares of the scientific and technical instruments company’s stock worth $961,000 after acquiring an additional 479 shares during the period. Candriam Luxembourg S.C.A. lifted its position in Coherent by 192.4% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 37,818 shares of the scientific and technical instruments company’s stock worth $8,894,000 after acquiring an additional 24,886 shares during the period. Scout Investments Inc. acquired a new stake in Coherent during the 3rd quarter worth about $15,266,000. Finally, Principal Financial Group Inc. lifted its position in Coherent by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 106,636 shares of the scientific and technical instruments company’s stock worth $25,078,000 after acquiring an additional 1,109 shares during the period. 97.06% of the stock is owned by institutional investors.
Coherent, Inc. (NASDAQ COHR) opened at $284.20 on Thursday. The stock has a market capitalization of $6,998.98, a PE ratio of 23.72 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 fifty-two week low of $128.21 and a fifty-two week high of $320.73.
In related news, CEO John Ambroseo sold 25,000 shares of Coherent stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $250.00, for a total value of $6,250,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Bret Dimarco sold 5,819 shares of Coherent stock in a transaction dated 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. In the last three months, insiders sold 43,416 shares of company stock valued at $11,740,028. Insiders own 1.40% of the company’s stock.
A number of analysts have commented on COHR shares. ValuEngine cut Coherent from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Benchmark reaffirmed a “buy” rating and set a $290.00 price target on shares of Coherent in a research report on Thursday, October 12th. Northcoast Research reaffirmed a “buy” rating and set a $314.00 price target (up previously from $311.00) on shares of Coherent in a research report on Tuesday, September 12th. Stifel Nicolaus reissued a “buy” rating and issued a $290.00 price objective on shares of Coherent in a report on Wednesday, September 13th. Finally, Summit Redstone reissued a “buy” rating and issued a $320.00 price objective on shares of Coherent in a report on Saturday, September 23rd. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $309.89.
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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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