Byrne Asset Management LLC Takes $33,000 Position in The Cooper Companies, Inc. (NASDAQ:COO)

Byrne Asset Management LLC purchased a new position in The Cooper Companies, Inc. (NASDAQ:COO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 360 shares of the medical device company’s stock, valued at approximately $33,000.

A number of other hedge funds also recently bought and sold shares of COO. Victory Capital Management Inc. increased its holdings in Cooper Companies by 23.0% in the 3rd quarter. Victory Capital Management Inc. now owns 3,950,119 shares of the medical device company’s stock worth $435,856,000 after acquiring an additional 737,726 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Cooper Companies by 13.2% in the third quarter. JPMorgan Chase & Co. now owns 4,930,022 shares of the medical device company’s stock valued at $543,979,000 after purchasing an additional 573,908 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Cooper Companies during the third quarter worth about $46,727,000. Swedbank AB increased its stake in shares of Cooper Companies by 14.0% during the fourth quarter. Swedbank AB now owns 1,629,602 shares of the medical device company’s stock worth $149,809,000 after purchasing an additional 200,000 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Cooper Companies by 11.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,818,610 shares of the medical device company’s stock worth $200,665,000 after purchasing an additional 194,118 shares during the last quarter. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Cooper Companies Stock Performance

Cooper Companies stock opened at $93.57 on Friday. The stock has a market cap of $18.67 billion, a price-to-earnings ratio of 47.98, a price-to-earnings-growth ratio of 2.45 and a beta of 1.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.12. The firm has a 50 day simple moving average of $94.99 and a 200-day simple moving average of $99.73. The Cooper Companies, Inc. has a 1-year low of $84.76 and a 1-year high of $112.38.

Cooper Companies (NASDAQ:COO) last posted its earnings results on Thursday, December 5th. The medical device company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the firm earned $0.87 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, analysts expect that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

Analyst Ratings Changes

COO has been the topic of several research analyst reports. Morgan Stanley lowered their price objective on Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a research note on Friday, December 6th. Citigroup reduced their price objective on Cooper Companies from $116.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, December 6th. StockNews.com lowered Cooper Companies from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Company upped their target price on shares of Cooper Companies from $115.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $117.00.

Cooper Companies Profile

The Cooper Companies, Inc, together with its subsidiaries, develops, manufactures, and markets contact lens wearers. The company operates in two segments, CooperVision and CooperSurgical. The CooperVision segment provides spherical lense, including lenses that correct near and farsightedness; and toric and multifocal lenses comprising lenses correcting vision challenges, such as astigmatism, presbyopia, and myopia in the Americas, Europe, Middle East, Africa, and Asia Pacific.