Bridgewater Advisors Inc. Makes New Investment in The Cooper Companies, Inc. (NASDAQ:COO)

Bridgewater Advisors Inc. bought a new stake in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,618 shares of the medical device company's stock, valued at approximately $462,000.

Several other hedge funds also recently made changes to their positions in the company. City Holding Co. purchased a new stake in Cooper Companies in the first quarter worth about $34,000. New Age Alpha Advisors LLC purchased a new stake in shares of Cooper Companies in the 4th quarter worth approximately $38,000. Covestor Ltd grew its stake in shares of Cooper Companies by 35.5% in the 4th 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. Larson Financial Group LLC increased its position in Cooper Companies by 1,071.0% during the 1st quarter. Larson Financial Group LLC now owns 726 shares of the medical device company's stock valued at $61,000 after buying an additional 664 shares in the last quarter. Finally, HM Payson & Co. raised its stake in Cooper Companies by 147.4% during the first quarter. HM Payson & Co. now owns 893 shares of the medical device company's stock valued at $75,000 after buying an additional 532 shares during the last quarter. 24.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on COO shares. Robert W. Baird cut their target price on Cooper Companies from $107.00 to $97.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $76.00 price target (down previously from $110.00) on shares of Cooper Companies in a research note on Friday, May 30th. Needham & Company LLC raised shares of Cooper Companies from a "hold" rating to a "buy" rating and set a $94.00 price objective on the stock in a research report on Tuesday, June 17th. Wells Fargo & Company decreased their target price on shares of Cooper Companies from $118.00 to $93.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Finally, UBS Group upgraded shares of Cooper Companies to a "buy" rating in a research note on Tuesday, June 17th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $97.20.

Cooper Companies Stock Down 0.9%

Shares of NASDAQ COO traded down $0.63 during midday trading on Friday, hitting $72.63. The stock had a trading volume of 1,870,502 shares, compared to its average volume of 2,235,867. The business's 50 day moving average is $74.23 and its 200-day moving average is $82.18. The company has a market cap of $14.52 billion, a P/E ratio of 35.26, a PEG ratio of 1.77 and a beta of 0.99. The Cooper Companies, Inc. has a 52 week low of $65.00 and a 52 week high of $112.38. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The medical device company reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $995.12 million. Cooper Companies had a net margin of 10.39% and a return on equity of 9.60%. The firm's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 earnings per share. As a group, analysts predict 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.