Twinbeech Capital LP Buys New Stake in The Cooper Companies, Inc. (NASDAQ:COO)

Twinbeech Capital LP bought a new stake in The Cooper Companies, Inc. (NASDAQ:COO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,273 shares of the medical device company’s stock, valued at approximately $669,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Byrne Asset Management LLC bought a new stake in Cooper Companies in the fourth quarter valued at about $33,000. OFI Invest Asset Management bought a new stake in Cooper Companies during the fourth quarter worth about $34,000. New Age Alpha Advisors LLC bought a new stake in Cooper Companies during the fourth quarter worth about $38,000. Covestor Ltd grew its stake in Cooper Companies by 35.5% during the fourth quarter. Covestor Ltd now owns 458 shares of the medical device company’s stock worth $42,000 after buying an additional 120 shares during the last quarter. Finally, Atala Financial Inc bought a new stake in Cooper Companies during the fourth quarter worth about $51,000. Institutional investors own 24.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Cooper Companies from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Piper Sandler reaffirmed an “overweight” rating and set a $115.00 price objective (down from $120.00) on shares of Cooper Companies in a research note on Friday, March 7th. BNP Paribas raised shares of Cooper Companies to a “hold” rating in a research note on Thursday, March 13th. Robert W. Baird decreased 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 note on Friday, March 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $110.25.

Cooper Companies Price Performance

Shares of COO stock opened at $79.30 on Friday. The Cooper Companies, Inc. has a 1 year low of $69.81 and a 1 year high of $112.38. The firm’s 50 day moving average is $80.28 and its 200-day moving average is $89.52. The firm has a market capitalization of $15.86 billion, a price-to-earnings ratio of 40.67, a PEG ratio of 2.25 and a beta of 1.08. The company has a current ratio of 1.91, a quick ratio of 1.12 and a debt-to-equity ratio of 0.32.

Cooper Companies (NASDAQ:COO) last announced 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 net margin of 10.07% and a return on equity of 9.38%. The company had revenue of $964.70 million for the quarter, compared to analyst estimates of $981.25 million. Sell-side analysts forecast that The Cooper Companies, Inc. will post 3.98 EPS for the current fiscal year.

Cooper Companies Company 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.