Hsbc Holdings PLC Grows Stake in The Cooper Companies, Inc. $COO

Key Points

• HSBC increased its Cooper Companies stake by 6.2% in the second quarter, adding 24,962 shares to own 428,065 shares valued at approximately $30.7 million. Institutional investors collectively hold 24.39% of COO’s stock.
• Cooper Companies shares opened at $69.59, below their 50-day moving average of $72.67 and 200-day average of $70.28. The stock has traded between $58.89 and $89.83 over the past year.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $81.64; several firms recently lowered their targets, despite maintaining mostly positive ratings.

Hsbc Holdings PLC raised its holdings in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 6.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 428,065 shares of the medical device company's stock after purchasing an additional 24,962 shares during the period. Hsbc Holdings PLC owned 0.22% of Cooper Companies worth $30,678,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Cooper Companies by 48.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,407 shares of the medical device company's stock valued at $1,890,000 after buying an additional 7,363 shares in the last quarter. First Trust Advisors LP raised its stake in Cooper Companies by 115.8% in the second quarter. First Trust Advisors LP now owns 136,334 shares of the medical device company's stock valued at $9,702,000 after buying an additional 73,165 shares during the last quarter. Cresset Asset Management LLC acquired a new stake in Cooper Companies in the second quarter worth about $291,000. Cerity Partners LLC boosted its holdings in Cooper Companies by 4.4% in the second quarter. Cerity Partners LLC now owns 17,870 shares of the medical device company's stock worth $1,272,000 after acquiring an additional 757 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of Cooper Companies by 2.8% during the second quarter. Daiwa Securities Group Inc. now owns 35,839 shares of the medical device company's stock worth $2,551,000 after acquiring an additional 973 shares during the last quarter. Hedge funds and other institutional investors own 24.39% of the company's stock.

Cooper Companies Price Performance

Shares of COO stock opened at $69.59 on Tuesday. The stock's 50-day simple moving average is $72.67 and its 200-day simple moving average is $70.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.78 and a current ratio of 1.27. The firm has a market capitalization of $13.57 billion, a PE ratio of 58.97, a P/E/G ratio of 1.82 and a beta of 0.82. The Cooper Companies, Inc. has a fifty-two week low of $58.89 and a fifty-two week high of $89.83.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on COO shares. BNP Paribas Exane cut their price objective on shares of Cooper Companies from $95.00 to $92.00 and set an "outperform" rating on the stock in a report on Monday, June 8th. JPMorgan Chase & Co. lowered their target price on shares of Cooper Companies from $80.00 to $71.00 and set a "neutral" rating for the company in a research note on Friday, June 5th. Mizuho set a $85.00 target price on shares of Cooper Companies and gave the stock an "outperform" rating in a research report on Thursday, June 4th. Robert W. Baird cut their price target on shares of Cooper Companies from $98.00 to $85.00 and set an "outperform" rating on the stock in a research note on Friday, June 5th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Cooper Companies in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $81.64.

About Cooper Companies

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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