Melqart Asset Management UK Ltd Makes New $12.73 Million Investment in Coherent, Inc. (NASDAQ:COHR)

Melqart Asset Management UK Ltd purchased a new position in shares of Coherent, Inc. (NASDAQ:COHR) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 50,347 shares of the scientific and technical instruments company’s stock, valued at approximately $12,732,000.

A number of other large investors have also recently added to or reduced their stakes in COHR. Vantage Consulting Group Inc acquired a new stake in shares of Coherent in the 4th quarter valued at approximately $32,000. Wealthcare Advisory Partners LLC acquired a new stake in shares of Coherent in the 1st quarter valued at approximately $33,000. Eaton Vance Management acquired a new stake in shares of Coherent in the 1st quarter valued at approximately $33,000. Lazard Asset Management LLC acquired a new stake in shares of Coherent in the 1st quarter valued at approximately $39,000. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of Coherent by 1,080.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 177 shares of the scientific and technical instruments company’s stock valued at $45,000 after buying an additional 162 shares during the last quarter. 89.72% of the stock is owned by hedge funds and other institutional investors.

Coherent stock traded down $2.37 during mid-day trading on Thursday, hitting $257.77. 1,867 shares of the company’s stock traded hands, compared to its average volume of 221,441. The company has a 50 day moving average of $261.54. Coherent, Inc. has a fifty-two week low of $103.00 and a fifty-two week high of $270.99. The stock has a market capitalization of $6.32 billion, a PE ratio of -39.45 and a beta of 1.63. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.05 and a current ratio of 3.19.

Coherent (NASDAQ:COHR) last announced its quarterly earnings results on Wednesday, May 12th. The scientific and technical instruments company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.28. Coherent had a positive return on equity of 6.24% and a negative net margin of 12.10%. The business had revenue of $374.00 million during the quarter, compared to the consensus estimate of $330.76 million. During the same quarter last year, the firm posted $0.61 EPS. The company’s quarterly revenue was up 27.6% on a year-over-year basis. Equities research analysts forecast that Coherent, Inc. will post 4.78 EPS for the current year.

Several equities research analysts have recently commented on COHR shares. Barclays started coverage on Coherent in a report on Tuesday, May 18th. They issued an “equal weight” rating for the company. Zacks Investment Research raised Coherent from a “sell” rating to a “hold” rating in a report on Tuesday, July 13th. Eight equities research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus price target of $196.00.

About Coherent

Coherent, Inc engages in the design, manufacture, and service of lasers and related accessories. It operates through the following business segments: OEM Laser Sources (OLS), and Industrial Lasers and Systems (ILS). The OLS segment focuses on laser sources and complex optical sub-systems, typically used in microelectronics manufacturing, medical diagnostics, and therapeutic medical applications.

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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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