Tributary Capital Management buys $10,702,913 stake in Coherent (COHR)

Coherent (COHR) : Tributary Capital Management scooped up 10,246 additional shares in Coherent during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 98,021 shares of Coherent which is valued at $10,702,913.Coherent makes up approximately 1.49% of Tributary Capital Management’s portfolio.

Other Hedge Funds, Including , Victory Capital Management Inc boosted its stake in COHR in the latest quarter, The investment management firm added 333 additional shares and now holds a total of 764 shares of Coherent which is valued at $83,421.Great West Life Assurance Co Can boosted its stake in COHR in the latest quarter, The investment management firm added 28,714 additional shares and now holds a total of 31,305 shares of Coherent which is valued at $3,302,364. Coherent makes up approx 0.01% of Great West Life Assurance Co Can’s portfolio.Rice Hall James Associates reduced its stake in COHR by selling 2,334 shares or 1.4% in the most recent quarter. The Hedge Fund company now holds 164,136 shares of COHR which is valued at $16,201,865. Coherent makes up approx 0.89% of Rice Hall James Associates’s portfolio.Strs Ohio boosted its stake in COHR in the latest quarter, The investment management firm added 400 additional shares and now holds a total of 14,000 shares of Coherent which is valued at $1,381,940. Coherent makes up approx 0.01% of Strs Ohio’s portfolio. Arcadia Investment Management Corpmi added COHR to its portfolio by purchasing 266 company shares during the most recent quarter which is valued at $25,206. Coherent makes up approx 0.01% of Arcadia Investment Management Corpmi’s portfolio.

Coherent closed down -0.39 points or -0.36% at $108.96 with 98,007 shares getting traded on Wednesday. Post opening the session at $109.31, the shares hit an intraday low of $108.33 and an intraday high of $109.915 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Coherent reported $1.07 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $1.11. The company had revenue of $218.80 million for the quarter, compared to analysts expectations of $211.94 million. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 EPS.

Many Wall Street Analysts have commented on Coherent. Shares were Reiterated by The Benchmark Company on Jul 28, 2016 to “Buy” and Lowered the Price Target to $ 112 from a previous price target of $115 .Company shares were Reiterated by Stifel on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 120 from a previous price target of $115 .Company shares were Reiterated by The Benchmark Company on May 23, 2016 to “Buy”, Firm has raised the Price Target to $ 115 from a previous price target of $110 .

Coherent Inc. is a supplier of photonics-based solutions for a range of commercial and scientific research applications. The Company designs manufactures services and markets lasers and related accessories to customers. The Company operates in two segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC). The SLS segment develops and manufactures configurable products serving the microelectronics scientific research and government programs and original equipment manufacturer (OEM) components and instrumentation markets. The CLC segment’s primary markets include materials processing OEM components and instrumentation and microelectronics.

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