Coherent, Inc. (NASDAQ:COHR) – Northcoast Research reduced their FY2017 earnings per share estimates for Coherent in a research note issued on Wednesday. Northcoast Research analyst T. Hayes now expects that the scientific and technical instruments company will post earnings of $11.52 per share for the year, down from their prior forecast of $11.70.

A number of other equities research analysts have also weighed in on the stock. Susquehanna Bancshares Inc restated a “neutral” rating and issued a $255.00 price objective (up from $240.00) on shares of Coherent in a report on Friday, June 30th. Zacks Investment Research lowered shares of Coherent from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 11th. Benchmark Co. restated a “buy” rating and issued a $290.00 price objective (down from $295.00) on shares of Coherent in a report on Wednesday, August 2nd. Stifel Nicolaus restated a “buy” rating and issued a $290.00 price objective (up from $270.00) on shares of Coherent in a report on Friday, June 30th. Finally, BidaskClub lowered shares of Coherent from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Coherent presently has an average rating of “Buy” and an average price target of $266.57.

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Coherent (COHR) opened at 210.99 on Monday. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 31.77 and a beta of 0.72. Coherent has a one year low of $100.01 and a one year high of $278.39. The stock has a 50 day moving average of $250.07 and a 200 day moving average of $215.08.

Coherent (NASDAQ:COHR) last announced its quarterly earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $464.10 million during the quarter, compared to analyst estimates of $466.90 million. During the same period last year, the firm earned $1.07 EPS. Coherent’s quarterly revenue was up 112.1% on a year-over-year basis.

A number of large investors have recently bought and sold shares of COHR. Miles Capital Inc. raised its stake in Coherent by 0.3% in the first quarter. Miles Capital Inc. now owns 1,599 shares of the scientific and technical instruments company’s stock worth $329,000 after buying an additional 5 shares in the last quarter. Teacher Retirement System of Texas raised its stake in Coherent by 0.3% in the second quarter. Teacher Retirement System of Texas now owns 1,966 shares of the scientific and technical instruments company’s stock worth $442,000 after buying an additional 5 shares in the last quarter. Bank of Montreal Can raised its stake in Coherent by 11.4% in the first quarter. Bank of Montreal Can now owns 812 shares of the scientific and technical instruments company’s stock worth $167,000 after buying an additional 83 shares in the last quarter. Creative Planning raised its stake in Coherent by 8.3% in the second quarter. Creative Planning now owns 1,207 shares of the scientific and technical instruments company’s stock worth $272,000 after buying an additional 92 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its stake in Coherent by 1.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 6,300 shares of the scientific and technical instruments company’s stock worth $1,296,000 after buying an additional 120 shares in the last quarter. Institutional investors own 92.94% of the company’s stock.

In related news, Director Garry W. Rogerson sold 4,500 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $257.03, for a total transaction of $1,156,635.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen A. Skaggs sold 500 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $249.48, for a total transaction of $124,740.00. Following the sale, the director now owns 12,000 shares of the company’s stock, valued at $2,993,760. The disclosure for this sale can be found here. Insiders have sold a total of 34,874 shares of company stock valued at $8,667,703 over the last quarter. 1.40% of the stock is currently owned by company insiders.

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).

Earnings History and Estimates for Coherent (NASDAQ:COHR)

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