TD Asset Management Inc. Reduces Stake in Coherent, Inc. (COHR)

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TD Asset Management Inc. reduced its position in Coherent, Inc. (NASDAQ:COHR) by 4.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 221,053 shares of the scientific and technical instruments company’s stock after selling 9,300 shares during the period. TD Asset Management Inc.’s holdings in Coherent were worth $23,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Retirement Systems of Alabama lifted its position in Coherent by 0.7% during the fourth quarter. Retirement Systems of Alabama now owns 31,609 shares of the scientific and technical instruments company’s stock valued at $3,341,000 after purchasing an additional 208 shares in the last quarter. Coe Capital Management LLC lifted its position in Coherent by 5.9% during the third quarter. Coe Capital Management LLC now owns 4,332 shares of the scientific and technical instruments company’s stock valued at $746,000 after purchasing an additional 242 shares in the last quarter. Arizona State Retirement System raised its holdings in Coherent by 1.4% during the fourth quarter. Arizona State Retirement System now owns 17,498 shares of the scientific and technical instruments company’s stock valued at $1,850,000 after acquiring an additional 245 shares during the period. SG Americas Securities LLC raised its holdings in Coherent by 15.2% during the fourth quarter. SG Americas Securities LLC now owns 2,816 shares of the scientific and technical instruments company’s stock valued at $298,000 after acquiring an additional 372 shares during the period. Finally, Alpine Woods Capital Investors LLC raised its holdings in Coherent by 6.7% during the third quarter. Alpine Woods Capital Investors LLC now owns 8,000 shares of the scientific and technical instruments company’s stock valued at $1,378,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 96.43% of the company’s stock.

A number of equities research analysts have commented on the company. Zacks Investment Research raised Coherent from a “sell” rating to a “hold” rating in a report on Tuesday, January 8th. Needham & Company LLC cut Coherent from a “buy” rating to a “hold” rating in a report on Wednesday, January 30th. Northcoast Research reissued a “hold” rating on shares of Coherent in a report on Tuesday, January 29th. BidaskClub raised Coherent from a “sell” rating to a “hold” rating in a report on Friday, November 16th. Finally, Benchmark reduced their target price on Coherent from $216.00 to $212.00 and set a “buy” rating on the stock in a report on Wednesday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $175.71.

Shares of COHR stock opened at $121.01 on Friday. Coherent, Inc. has a 12-month low of $90.10 and a 12-month high of $233.93. The company has a current ratio of 3.26, a quick ratio of 2.02 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $2.92 billion, a PE ratio of 10.44 and a beta of 1.53.

Coherent (NASDAQ:COHR) last issued its earnings results on Tuesday, January 29th. The scientific and technical instruments company reported $2.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.07 by $0.02. Coherent had a return on equity of 22.05% and a net margin of 13.33%. The firm had revenue of $383.15 million for the quarter, compared to analysts’ expectations of $382.65 million. As a group, analysts predict that Coherent, Inc. will post 7.15 EPS for the current year.

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Coherent Company Profile

Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial applications. It operates through two segments, OEM Laser Sources and Industrial Lasers & Systems. The company designs, manufactures, markets, and services lasers, laser tools, precision optics, and related accessories; and laser measurement and control products.

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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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