The Cooper Companies, Inc. (NASDAQ:COO) Position Increased by Alecta Tjanstepension Omsesidigt

Alecta Tjanstepension Omsesidigt increased its position in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 55.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 839,700 shares of the medical device company’s stock after acquiring an additional 300,700 shares during the period. Alecta Tjanstepension Omsesidigt owned about 0.42% of Cooper Companies worth $70,829,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of COO. Covestor Ltd raised its stake in shares of Cooper Companies by 35.5% in the fourth quarter. Covestor Ltd now owns 458 shares of the medical device company’s stock valued at $42,000 after acquiring an additional 120 shares during the last quarter. Shell Asset Management Co. raised its position in Cooper Companies by 15.5% in the 4th quarter. Shell Asset Management Co. now owns 946 shares of the medical device company’s stock worth $87,000 after purchasing an additional 127 shares during the last quarter. UMB Bank n.a. raised its position in Cooper Companies by 16.7% in the 1st quarter. UMB Bank n.a. now owns 902 shares of the medical device company’s stock worth $76,000 after purchasing an additional 129 shares during the last quarter. Axxcess Wealth Management LLC raised its position in Cooper Companies by 1.9% in the 1st quarter. Axxcess Wealth Management LLC now owns 7,382 shares of the medical device company’s stock worth $623,000 after purchasing an additional 140 shares during the last quarter. Finally, Mitchell & Pahl Private Wealth LLC raised its position in Cooper Companies by 1.8% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 8,675 shares of the medical device company’s stock worth $732,000 after purchasing an additional 157 shares during the last quarter. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COO has been the subject of a number of analyst reports. Needham & Company LLC raised shares of Cooper Companies from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a report on Tuesday, June 17th. UBS Group raised shares of Cooper Companies to a “buy” rating in a report on Tuesday, June 17th. Mizuho decreased their price target on shares of Cooper Companies from $105.00 to $90.00 and set an “outperform” rating for the company in a report on Wednesday, July 16th. Loop Capital set a $100.00 price target on shares of Cooper Companies in a report on Tuesday, June 17th. Finally, Wall Street Zen lowered shares of Cooper Companies from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.73.

Cooper Companies Stock Performance

Shares of COO traded up $1.42 during mid-day trading on Tuesday, hitting $72.74. 757,210 shares of the company’s stock were exchanged, compared to its average volume of 1,767,234. The Cooper Companies, Inc. has a 52 week low of $65.00 and a 52 week high of $112.38. The stock’s 50-day simple moving average is $74.03 and its 200-day simple moving average is $81.92. The firm has a market cap of $14.55 billion, a price-to-earnings ratio of 35.36, a price-to-earnings-growth ratio of 1.77 and a beta of 0.99. The company has a quick ratio of 1.23, a current ratio of 2.10 and a debt-to-equity ratio of 0.30.

Cooper Companies (NASDAQ:COO) last announced its quarterly earnings data on Thursday, May 29th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $995.12 million. Cooper Companies had a net margin of 10.39% and a return on equity of 9.60%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $0.85 earnings per share. On average, equities research analysts expect that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

About Cooper Companies

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.