Covea Finance Grows Position in The Cooper Companies, Inc. (NASDAQ:COO)

Covea Finance boosted its stake in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 95.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,000 shares of the medical device company's stock after acquiring an additional 22,500 shares during the quarter. Covea Finance's holdings in Cooper Companies were worth $3,880,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd boosted its holdings 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 purchasing an additional 120 shares during the period. Shell Asset Management Co. lifted its position in Cooper Companies by 15.5% in the fourth quarter. Shell Asset Management Co. now owns 946 shares of the medical device company's stock worth $87,000 after buying an additional 127 shares during the last quarter. UMB Bank n.a. lifted its position in Cooper Companies by 16.7% in the first quarter. UMB Bank n.a. now owns 902 shares of the medical device company's stock worth $76,000 after buying an additional 129 shares during the last quarter. Torray Investment Partners LLC boosted its stake in Cooper Companies by 0.8% during the fourth quarter. Torray Investment Partners LLC now owns 16,190 shares of the medical device company's stock worth $1,488,000 after buying an additional 132 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC boosted its stake in Cooper Companies by 1.8% during the first quarter. Mitchell & Pahl Private Wealth LLC now owns 8,675 shares of the medical device company's stock worth $732,000 after buying an additional 157 shares during the period. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Cooper Companies Trading Down 0.5%

COO traded down $0.34 on Friday, reaching $69.47. 4,618,261 shares of the company traded hands, compared to its average volume of 1,649,399. The company has a market cap of $13.89 billion, a P/E ratio of 33.72, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98. 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 Cooper Companies, Inc. has a one year low of $65.00 and a one year high of $112.38. The firm has a fifty day simple moving average of $77.28 and a two-hundred day simple moving average of $84.93.

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, beating the consensus estimate of $0.93 by $0.03. The firm had revenue of $1 billion during 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 company's revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share. As a group, equities research analysts expect that The Cooper Companies, Inc. will post 3.98 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on COO shares. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $76.00 target price (down previously from $110.00) on shares of Cooper Companies in a research note on Friday, May 30th. Loop Capital set a $100.00 price target on shares of Cooper Companies in a report on Tuesday, June 17th. BNP Paribas raised shares of Cooper Companies to a "hold" rating in a research report on Thursday, March 13th. Wells Fargo & Company decreased their price objective on shares of Cooper Companies from $118.00 to $93.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Finally, 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. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Cooper Companies has an average rating of "Moderate Buy" and a consensus target price of $99.70.

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.