Canada Pension Plan Investment Board Acquires 11,568 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

Canada Pension Plan Investment Board grew its stake in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 199,170 shares of the medical device company's stock after acquiring an additional 11,568 shares during the period. Canada Pension Plan Investment Board owned 0.10% of Cooper Companies worth $18,310,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Cooper Companies during the 4th quarter valued at about $691,000. Highland Capital Management LLC acquired a new stake in shares of Cooper Companies in the fourth quarter worth $4,004,000. Caprock Group LLC bought a new stake in shares of Cooper Companies during the 4th quarter worth $282,000. Franklin Resources Inc. raised its holdings in Cooper Companies by 194.0% in the 3rd quarter. Franklin Resources Inc. now owns 48,892 shares of the medical device company's stock worth $5,265,000 after acquiring an additional 32,260 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Cooper Companies by 6.6% during the third quarter. Principal Financial Group Inc. now owns 238,305 shares of the medical device company's stock valued at $26,295,000 after acquiring an additional 14,687 shares during the period. 24.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on COO shares. BNP Paribas raised Cooper Companies to a "hold" rating in a research report on Thursday, March 13th. Stifel Nicolaus cut their target price on shares of Cooper Companies from $115.00 to $105.00 and set a "buy" rating for the company in a research note on Friday, March 7th. 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 report on Friday, March 7th. Needham & Company LLC reissued a "hold" rating on shares of Cooper Companies in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. lowered their price objective on Cooper Companies from $120.00 to $110.00 and set an "overweight" rating on the stock in a research report on Friday, March 7th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Cooper Companies presently has an average rating of "Moderate Buy" and a consensus target price of $110.25.

Cooper Companies Price Performance

COO traded down $1.69 during midday trading on Friday, hitting $80.89. The company had a trading volume of 1,150,372 shares, compared to its average volume of 1,423,576. The Cooper Companies, Inc. has a twelve month low of $69.81 and a twelve month high of $112.38. The firm's 50-day simple moving average is $82.13 and its 200-day simple moving average is $92.78. The company has a market capitalization of $16.18 billion, a PE ratio of 41.48, a P/E/G ratio of 2.25 and a beta of 1.01. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.12 and a current ratio of 1.91.

Cooper Companies (NASDAQ:COO - Get Free Report) last posted its quarterly earnings data on Thursday, March 6th. The medical device company reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. The firm had revenue of $964.70 million for the quarter, compared to the consensus estimate of $981.25 million. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. Equities research analysts predict 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.