Norges Bank Takes Position in The Cooper Companies, Inc. (NASDAQ:COO)

Norges Bank bought a new position in shares of The Cooper Companies, Inc. (NASDAQ:COO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,370,352 shares of the medical device company’s stock, valued at approximately $217,906,000. Norges Bank owned approximately 1.19% of Cooper Companies at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. NEOS Investment Management LLC increased its stake in Cooper Companies by 24.7% in the fourth quarter. NEOS Investment Management LLC now owns 6,252 shares of the medical device company’s stock valued at $575,000 after purchasing an additional 1,237 shares during the last quarter. UniSuper Management Pty Ltd grew its position in shares of Cooper Companies by 30.5% in the 4th quarter. UniSuper Management Pty Ltd now owns 24,294 shares of the medical device company’s stock valued at $2,233,000 after buying an additional 5,672 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Cooper Companies by 1.5% during the 4th quarter. JPMorgan Chase & Co. now owns 5,004,523 shares of the medical device company’s stock worth $460,066,000 after acquiring an additional 74,501 shares in the last quarter. Elo Mutual Pension Insurance Co lifted its position in Cooper Companies by 11.8% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 19,767 shares of the medical device company’s stock valued at $1,819,000 after acquiring an additional 2,080 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Cooper Companies by 3.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 306,992 shares of the medical device company’s stock valued at $28,179,000 after acquiring an additional 10,428 shares in the last quarter. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Cooper Companies Trading Down 1.4 %

Shares of Cooper Companies stock opened at $83.77 on Monday. The firm has a market cap of $16.75 billion, a price-to-earnings ratio of 42.96, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02. The Cooper Companies, Inc. has a 52-week low of $77.05 and a 52-week high of $112.38. The company’s 50-day simple moving average is $89.33 and its 200-day simple moving average is $97.21. The company has a quick ratio of 1.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.32.

Cooper Companies (NASDAQ:COO) last issued its earnings results on Thursday, March 6th. The medical device company reported $0.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.92. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. The business had revenue of $964.70 million during the quarter, compared to the consensus estimate of $981.25 million. As a group, equities research analysts anticipate that The Cooper Companies, Inc. will post 3.98 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on COO shares. Piper Sandler reiterated an “overweight” rating and set a $115.00 target price (down previously from $120.00) on shares of Cooper Companies in a research report on Friday, March 7th. Citigroup reduced their price objective on Cooper Companies from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, March 7th. StockNews.com lowered shares of Cooper Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Morgan Stanley reduced their price target on shares of Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Friday, December 6th. Finally, Robert W. Baird lowered their price objective on shares of Cooper Companies from $117.00 to $107.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $110.25.

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.