Orion Portfolio Solutions LLC acquired a new stake in shares of Coherent, Inc. (NASDAQ:COHR) during the fourth quarter, Holdings Channel reports. The fund acquired 496 shares of the scientific and technical instruments company’s stock, valued at approximately $83,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cullen Frost Bankers Inc. grew its stake in Coherent by 129.6% in the fourth quarter. Cullen Frost Bankers Inc. now owns 163 shares of the scientific and technical instruments company’s stock worth $27,000 after purchasing an additional 92 shares in the last quarter. Clear Harbor Asset Management LLC acquired a new position in Coherent in the fourth quarter worth $56,000. First Bank & Trust increased its stake in Coherent by 401.4% during the fourth quarter. First Bank & Trust now owns 366 shares of the scientific and technical instruments company’s stock valued at $61,000 after purchasing an additional 293 shares during the last quarter. Robecosam AG increased its stake in Coherent by 15.4% during the fourth quarter. Robecosam AG now owns 150,000 shares of the scientific and technical instruments company’s stock valued at $166,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Contravisory Investment Management Inc. acquired a new stake in shares of Coherent during the fourth quarter worth $168,000. Hedge funds and other institutional investors own 99.42% of the company’s stock.

In related news, EVP Mark Stewart Sobey sold 3,322 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $175.21, for a total transaction of $582,047.62. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stephen A. Skaggs sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $151.23, for a total value of $75,615.00. Following the completion of the sale, the director now owns 12,514 shares of the company’s stock, valued at $1,892,492.22. The disclosure for this sale can be found here. Insiders sold a total of 8,624 shares of company stock valued at $1,498,925 over the last three months. Corporate insiders own 1.25% of the company’s stock.

Several research analysts have recently commented on COHR shares. Benchmark reaffirmed a “buy” rating and issued a $175.00 price target on shares of Coherent in a report on Thursday, February 6th. Piper Jaffray Companies initiated coverage on Coherent in a report on Friday, December 20th. They set an “overweight” rating and a $205.00 target price for the company. Piper Sandler dropped their price target on Coherent from to in a research report on Thursday, February 6th. Stifel Nicolaus reissued a “buy” rating and issued a $178.00 price target on shares of Coherent in a report on Monday, February 10th. Finally, Zacks Investment Research upgraded Coherent from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $184.67.

NASDAQ:COHR traded up $6.93 during mid-day trading on Thursday, hitting $113.28. The stock had a trading volume of 217,051 shares, compared to its average volume of 285,055. The company has a current ratio of 4.38, a quick ratio of 2.63 and a debt-to-equity ratio of 0.30. The company has a 50 day simple moving average of $129.01 and a 200-day simple moving average of $150.58. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 114.42 and a beta of 1.85. Coherent, Inc. has a 52 week low of $78.21 and a 52 week high of $178.08.

Coherent (NASDAQ:COHR) last announced its quarterly earnings results on Wednesday, February 5th. The scientific and technical instruments company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.77 by $0.09. The company had revenue of $320.80 million for the quarter, compared to analyst estimates of $315.53 million. Coherent had a net margin of 1.76% and a return on equity of 6.46%. Coherent’s revenue was down 16.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.09 earnings per share. As a group, equities research analysts anticipate that Coherent, Inc. will post 3.41 earnings per share for the current year.

About Coherent

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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