Commerce Bank Has $10.77 Million Position in The Cooper Companies, Inc. (NASDAQ:COO)

Key Points

• Commerce Bank reduced its stake in The Cooper Companies by 20.1%, selling 32,213 shares and retaining approximately 127,689 shares valued at around $10.77 million.
• Several institutional investors increased their holdings in Cooper Companies, notably Larson Financial Group, which boosted its stake by 1,071% during the first quarter.
• Analysts have mixed ratings for Cooper Companies, with nine giving a "buy" rating and a consensus target price around $96.73, following multiple price target reductions from different investment firms.

Commerce Bank lessened its stake in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 20.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,689 shares of the medical device company's stock after selling 32,213 shares during the quarter. Commerce Bank owned about 0.06% of Cooper Companies worth $10,771,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on COO shares. Wells Fargo & Company cut their price target on shares of Cooper Companies from $118.00 to $93.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. BNP Paribas raised Cooper Companies from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. reissued a "neutral" rating and set a $76.00 target price (down from $110.00) on shares of Cooper Companies in a research report on Friday, May 30th. Needham & Company LLC upgraded Cooper Companies from a "hold" rating to a "buy" rating and set a $94.00 target price for the company in a research note on Tuesday, June 17th. Finally, UBS Group upgraded Cooper Companies to a "buy" rating in a research note on Tuesday, June 17th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cooper Companies presently has a consensus rating of "Moderate Buy" and an average target price of $96.73.

Cooper Companies Stock Up 0.8%

Shares of Cooper Companies stock traded up $0.58 during midday trading on Monday, hitting $71.45. The company's stock had a trading volume of 1,416,982 shares, compared to its average volume of 2,354,857. The Cooper Companies, Inc. has a 1-year low of $65.00 and a 1-year 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. The firm has a market capitalization of $14.29 billion, a P/E ratio of 34.68, a PEG ratio of 1.73 and a beta of 1.00. The stock has a 50-day simple moving average of $72.33 and a 200-day simple moving average of $80.60.

Cooper Companies (NASDAQ:COO - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The medical device company reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. Cooper Companies had a return on equity of 9.60% and a net margin of 10.39%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $995.12 million. During the same period last year, the business earned $0.85 EPS. The business's quarterly revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts expect that The Cooper Companies, Inc. will post 3.98 earnings per share 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.