AXQ Capital LP Takes Position in The Cooper Companies, Inc. $COO

Key Points

• AXQ Capital acquired 14,833 shares of The Cooper Companies during the second quarter, valued at approximately $1.06 million. Several other institutional investors also initiated or expanded positions, with institutions collectively owning 24.39% of the company.
• Cooper Companies reported quarterly earnings of $1.21 per share, exceeding estimates of $1.10, while revenue rose 7.9% year over year to $1.08 billion.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and an average price target of $81.64, while shares recently opened at $69.59.

AXQ Capital LP bought a new stake in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 14,833 shares of the medical device company's stock, valued at approximately $1,064,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Cooper Companies during the second quarter worth about $1,077,762,000. Generation Investment Management LLP acquired a new stake in Cooper Companies in the second quarter valued at $356,304,000. Wellington Management Group LLP increased its holdings in Cooper Companies by 332.9% in the third quarter. Wellington Management Group LLP now owns 6,184,992 shares of the medical device company's stock valued at $424,043,000 after purchasing an additional 4,756,178 shares during the period. Jupiter Topco LLC bought a new position in Cooper Companies during the 2nd quarter worth $305,074,000. Finally, Diamond Hill Capital Management Inc. raised its position in Cooper Companies by 479.6% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 3,287,837 shares of the medical device company's stock worth $269,471,000 after purchasing an additional 2,720,594 shares during the last quarter. Institutional investors own 24.39% of the company's stock.

Cooper Companies Stock Performance

Shares of COO stock opened at $69.59 on Friday. The firm has a market capitalization of $13.57 billion, a PE ratio of 58.97, a price-to-earnings-growth ratio of 1.82 and a beta of 0.82. The firm has a fifty day simple moving average of $72.71 and a two-hundred day simple moving average of $70.45. The company has a current ratio of 1.27, a quick ratio of 0.78 and a debt-to-equity ratio of 0.23. The Cooper Companies, Inc. has a 12 month low of $58.89 and a 12 month high of $89.83.

Cooper Companies (NASDAQ:COO - Get Free Report) last released its quarterly earnings data on Thursday, June 4th. The medical device company reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.11. Cooper Companies had a net margin of 5.57% and a return on equity of 10.88%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the firm earned $0.96 earnings per share. The business's quarterly revenue was up 7.9% compared to the same quarter last year. Analysts forecast that The Cooper Companies, Inc. will post 4.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on COO. Needham & Company LLC decreased their price target on Cooper Companies from $101.00 to $86.00 and set a "buy" rating for the company in a research note on Friday, June 5th. Robert W. Baird reduced their target price on Cooper Companies from $98.00 to $85.00 and set an "outperform" rating on the stock in a report on Friday, June 5th. Weiss Ratings cut Cooper Companies from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday, June 8th. The Goldman Sachs Group set a $61.00 target price on shares of Cooper Companies in a research report on Wednesday, May 27th. Finally, BNP Paribas Exane lowered their price target on shares of Cooper Companies from $95.00 to $92.00 and set an "outperform" rating for the company in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, Cooper Companies has a consensus rating of "Hold" and an average target price of $81.64.

Cooper Companies Company Profile

Cooper Companies, Inc NASDAQ: COO is a global medical device company headquartered in San Ramon, California. Founded in 1958, the company has grown through strategic acquisitions and organic development to become a major provider of vision care and women's health products. Cooper Companies operates through two primary business segments—CooperVision and CooperSurgical—each serving specialized markets within the healthcare industry.

The CooperVision segment develops, manufactures and markets a broad range of soft contact lenses, as well as related accessories.

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