The Cooper Companies, Inc. (NASDAQ:COO) Shares Acquired by Cohen Capital Management Inc.

Cohen Capital Management Inc. grew its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 300.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,200 shares of the medical device company’s stock after purchasing an additional 2,400 shares during the period. Cohen Capital Management Inc.’s holdings in Cooper Companies were worth $325,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in shares of Cooper Companies by 273.8% in the first quarter. Bank of New York Mellon Corp now owns 1,731,194 shares of the medical device company’s stock valued at $175,647,000 after buying an additional 1,268,109 shares in the last quarter. Congress Asset Management Co. MA boosted its stake in shares of Cooper Companies by 252.4% in the first quarter. Congress Asset Management Co. MA now owns 1,263,754 shares of the medical device company’s stock valued at $128,220,000 after buying an additional 905,173 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Cooper Companies by 200.2% in the first quarter. Jennison Associates LLC now owns 877,295 shares of the medical device company’s stock valued at $89,010,000 after buying an additional 585,016 shares in the last quarter. Norges Bank purchased a new stake in shares of Cooper Companies in the fourth quarter valued at approximately $196,045,000. Finally, Raymond James & Associates boosted its stake in shares of Cooper Companies by 330.4% in the first quarter. Raymond James & Associates now owns 619,664 shares of the medical device company’s stock valued at $62,871,000 after buying an additional 475,703 shares in the last quarter. Institutional investors and hedge funds own 24.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on COO shares. Robert W. Baird lifted their price target on Cooper Companies from $116.00 to $118.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Citigroup boosted their target price on Cooper Companies from $108.00 to $116.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a research report on Friday, May 31st. Redburn Atlantic upgraded Cooper Companies from a “neutral” rating to a “buy” rating and set a $125.00 target price on the stock in a research report on Tuesday, March 19th. Finally, Piper Sandler reiterated an “overweight” rating and set a $115.00 target price on shares of Cooper Companies in a research report on Wednesday, July 3rd. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $111.42.

Cooper Companies Price Performance

Shares of NASDAQ COO traded up $3.03 during trading on Thursday, reaching $88.58. The company had a trading volume of 2,861,257 shares, compared to its average volume of 1,116,017. The stock has a 50-day moving average price of $92.05 and a two-hundred day moving average price of $94.45. The Cooper Companies, Inc. has a twelve month low of $75.93 and a twelve month high of $104.07. The stock has a market capitalization of $17.64 billion, a PE ratio of 52.11, a price-to-earnings-growth ratio of 2.12 and a beta of 0.98. The company has a current ratio of 1.95, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34.

Cooper Companies (NASDAQ:COO) last released its earnings results on Thursday, May 30th. The medical device company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.02. Cooper Companies had a return on equity of 8.87% and a net margin of 9.11%. The firm had revenue of $942.60 million for the quarter, compared to the consensus estimate of $948.07 million. During the same period in the prior year, the business posted $0.77 earnings per share. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, sell-side analysts predict that The Cooper Companies, Inc. will post 3.57 earnings per share for the current year.

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.