Public Employees Retirement System of Ohio Acquires New Shares in The Cooper Companies, Inc. $COO

Public Employees Retirement System of Ohio bought a new stake in shares of The Cooper Companies, Inc. (NASDAQ:COO) in the second quarter, Holdings Channel reports. The fund bought 60,195 shares of the medical device company’s stock, valued at approximately $4,317,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Root Financial Partners LLC grew its stake in Cooper Companies by 104.5% during the fourth quarter. Root Financial Partners LLC now owns 317 shares of the medical device company’s stock valued at $26,000 after acquiring an additional 162 shares in the last quarter. Avalon Trust Co bought a new position in Cooper Companies in the 2nd quarter valued at $25,000. SJS Investment Consulting Inc. grew its position in shares of Cooper Companies by 107.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 361 shares of the medical device company’s stock valued at $26,000 after purchasing an additional 187 shares in the last quarter. Elevation Wealth Partners LLC increased its holdings in shares of Cooper Companies by 1,136.4% in the second quarter. Elevation Wealth Partners LLC now owns 408 shares of the medical device company’s stock worth $29,000 after purchasing an additional 375 shares during the period. Finally, J.Safra Asset Management Corp bought a new position in shares of Cooper Companies in the second quarter worth $32,000. 24.39% of the stock is owned by hedge funds and other institutional investors.

Cooper Companies Trading Up 1.3%

Shares of COO opened at $70.64 on Friday. The Cooper Companies, Inc. has a fifty-two week low of $58.89 and a fifty-two week high of $89.83. The firm has a market cap of $13.78 billion, a price-to-earnings ratio of 59.86, a PEG ratio of 1.82 and a beta of 0.82. The firm has a 50 day moving average price of $72.74 and a 200-day moving average price of $70.46. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.78 and a current ratio of 1.27.

Cooper Companies (NASDAQ:COO) last released its earnings results on Thursday, June 4th. The medical device company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.10 by $0.11. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. Cooper Companies had a net margin of 5.57% and a return on equity of 10.88%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.96 EPS. As a group, equities research analysts forecast that The Cooper Companies, Inc. will post 4.63 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Weiss Ratings lowered Cooper Companies from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, June 8th. JPMorgan Chase & Co. cut their price objective on Cooper Companies from $80.00 to $71.00 and set a “neutral” rating for the company in a report on Friday, June 5th. Piper Sandler set a $86.00 price objective on shares of Cooper Companies and gave the stock an “overweight” rating in a research report on Monday, June 1st. Citigroup reaffirmed a “neutral” rating and issued a $80.00 target price (up from $76.00) on shares of Cooper Companies in a research note on Thursday, August 13th. Finally, Mizuho set a $85.00 target price on shares of Cooper Companies and gave the company an “outperform” rating in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Cooper Companies currently has an average rating of “Hold” and an average price target of $81.64.

About Cooper Companies

Cooper Companies, Inc (NASDAQ: COO) is a global medical device company headquartered in San Ramon, California. Founded in 1958, the company has grown through strategic acquisitions and organic development to become a major provider of vision care and women’s health products. Cooper Companies operates through two primary business segments—CooperVision and CooperSurgical—each serving specialized markets within the healthcare industry.

The CooperVision segment develops, manufactures and markets a broad range of soft contact lenses, as well as related accessories.