The Cooper Companies, Inc. (NASDAQ:COO) Shares Purchased by Bank of Nova Scotia

Bank of Nova Scotia raised its holdings in The Cooper Companies, Inc. (NASDAQ:COO) by 16.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 136,181 shares of the medical device company’s stock after purchasing an additional 19,700 shares during the period. Bank of Nova Scotia owned about 0.07% of Cooper Companies worth $12,519,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in COO. Norges Bank bought a new stake in shares of Cooper Companies in the fourth quarter worth $217,906,000. FMR LLC grew its holdings in Cooper Companies by 97.6% during the 4th quarter. FMR LLC now owns 2,218,112 shares of the medical device company’s stock worth $203,911,000 after acquiring an additional 1,095,805 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Cooper Companies in the 4th quarter worth about $64,826,000. Victory Capital Management Inc. raised its stake in shares of Cooper Companies by 14.6% in the 4th quarter. Victory Capital Management Inc. now owns 4,525,018 shares of the medical device company’s stock valued at $415,985,000 after purchasing an additional 574,899 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Cooper Companies by 13.2% during the third quarter. JPMorgan Chase & Co. now owns 4,930,022 shares of the medical device company’s stock worth $543,979,000 after purchasing an additional 573,908 shares during the last quarter. 24.39% of the stock is owned by institutional investors and hedge funds.

Cooper Companies Stock Down 3.2 %

COO stock opened at $75.37 on Friday. The stock has a market cap of $15.07 billion, a PE ratio of 38.65, a price-to-earnings-growth ratio of 2.25 and a beta of 1.01. The firm’s 50-day simple moving average is $84.99 and its 200 day simple moving average is $94.84. The Cooper Companies, Inc. has a fifty-two week low of $69.81 and a fifty-two week high of $112.38. 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 announced its quarterly earnings results on Thursday, March 6th. The medical device company reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. The company had revenue of $964.70 million for the quarter, compared to analyst estimates of $981.25 million. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. As a group, sell-side analysts predict that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on COO shares. Piper Sandler restated an “overweight” rating and set a $115.00 price objective (down previously from $120.00) on shares of Cooper Companies in a research note on Friday, March 7th. BNP Paribas upgraded Cooper Companies to a “hold” rating in a research note on Thursday, March 13th. Robert W. Baird lowered their target price on shares of Cooper Companies from $117.00 to $107.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Citigroup dropped their target price on shares of Cooper Companies from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a report on Friday, March 7th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.