US Bancorp DE trimmed its holdings in shares of Coherent, Inc. (NASDAQ:COHR) by 17.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,515 shares of the scientific and technical instruments company’s stock after selling 985 shares during the quarter. US Bancorp DE’s holdings in Coherent were worth $706,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in COHR. Toronto Dominion Bank raised its stake in Coherent by 326.7% in the 2nd quarter. Toronto Dominion Bank now owns 640 shares of the scientific and technical instruments company’s stock valued at $100,000 after purchasing an additional 490 shares during the last quarter. Silvant Capital Management LLC acquired a new position in Coherent in the 1st quarter valued at $174,000. Point72 Asset Management L.P. acquired a new position in Coherent in the 1st quarter valued at $206,000. Sciencast Management LP acquired a new position in Coherent in the 1st quarter valued at $241,000. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Coherent by 57.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,332 shares of the scientific and technical instruments company’s stock valued at $250,000 after purchasing an additional 487 shares during the last quarter. 98.59% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently commented on the company. Northcoast Research reissued a “buy” rating and issued a $217.00 price objective on shares of Coherent in a research note on Thursday, August 2nd. Benchmark reissued a “buy” rating and issued a $216.00 price objective (down from $242.00) on shares of Coherent in a research note on Wednesday, August 1st. Zacks Investment Research downgraded Coherent from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 31st. Stifel Nicolaus reduced their price objective on Coherent from $218.00 to $214.00 and set a “buy” rating for the company in a research note on Friday, July 27th. Finally, BidaskClub raised Coherent from a “sell” rating to a “hold” rating in a research note on Wednesday, July 11th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Coherent currently has an average rating of “Buy” and a consensus target price of $240.88.

Shares of COHR opened at $177.88 on Thursday. Coherent, Inc. has a 52-week low of $145.66 and a 52-week high of $329.00. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 12.98 and a beta of 1.05. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.28 and a quick ratio of 1.87.

Coherent (NASDAQ:COHR) last issued its earnings results on Tuesday, July 31st. The scientific and technical instruments company reported $3.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.54 by ($0.03). Coherent had a return on equity of 28.01% and a net margin of 12.84%. The company had revenue of $482.00 million during the quarter, compared to analyst estimates of $491.31 million. During the same period last year, the business earned $3.36 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. sell-side analysts forecast that Coherent, Inc. will post 13.14 EPS for the current fiscal year.

In other news, EVP Mark Stewart Sobey sold 13,000 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $181.86, for a total transaction of $2,364,180.00. Following the completion of the transaction, the executive vice president now directly owns 17,887 shares in the company, valued at approximately $3,252,929.82. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Coherent Profile

Coherent, Inc provides lasers and laser-based technology in a range of scientific, commercial, and industrial applications worldwide. It operates through two segments, Specialty Lasers and Systems, and Commercial Lasers and Components. The company designs, manufactures, services, and markets lasers, laser tools, precision optics, and related accessories.

Featured Story: Investing in Dividend Stocks

Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

Receive News & Ratings for Coherent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherent and related companies with MarketBeat.com's FREE daily email newsletter.