JANA Partners Management LP Increases Stock Position in The Cooper Companies, Inc. $COO

Key Points

• JANA Partners increased its Cooper Companies position by 0.5% in the second quarter, holding 3.58 million shares worth approximately $256.9 million. The stock represents 13.5% of the firm’s portfolio and is its second-largest holding.
• Institutional ownership remains significant, with hedge funds and other institutions holding 24.39% of Cooper Companies’ shares; several major investors, including BlackRock, Wellington Management and T. Rowe Price, added or initiated positions.
• Analyst sentiment is mixed: Cooper Companies has a consensus “Hold” rating and an average price target of $81.64, while recent target cuts ranged from $61 to $86. The company nevertheless exceeded quarterly earnings and revenue estimates, reporting $1.21 in EPS and $1.08 billion in revenue.

JANA Partners Management LP increased its position in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 0.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,582,480 shares of the medical device company's stock after buying an additional 17,322 shares during the period. Cooper Companies comprises approximately 13.5% of JANA Partners Management LP's holdings, making the stock its 2nd largest position. JANA Partners Management LP owned 1.84% of Cooper Companies worth $256,900,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of COO. BlackRock Inc. purchased a new position in shares of Cooper Companies in the second quarter valued at about $1,077,762,000. State Street Corp grew its position in shares of Cooper Companies by 2.4% during the fourth quarter. State Street Corp now owns 8,793,747 shares of the medical device company's stock worth $720,736,000 after purchasing an additional 207,195 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Cooper Companies by 332.9% during the third quarter. Wellington Management Group LLP now owns 6,184,992 shares of the medical device company's stock worth $424,043,000 after purchasing an additional 4,756,178 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Cooper Companies by 58.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,028,821 shares of the medical device company's stock valued at $494,123,000 after purchasing an additional 2,231,568 shares during the period. Finally, Generation Investment Management LLP bought a new stake in Cooper Companies during the 2nd quarter valued at approximately $356,304,000. Hedge funds and other institutional investors own 24.39% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on COO shares. Needham & Company LLC dropped 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. Weiss Ratings cut shares of Cooper Companies from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, June 8th. Stifel Nicolaus lowered their target price on shares of Cooper Companies from $95.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, June 5th. The Goldman Sachs Group set a $61.00 target price on shares of Cooper Companies in a report on Wednesday, May 27th. Finally, Wells Fargo & Company restated a "sell" rating and set a $66.00 target price (down from $82.00) on shares of Cooper Companies in a research report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Cooper Companies presently has a consensus rating of "Hold" and an average price target of $81.64.

Cooper Companies Price Performance

Shares of Cooper Companies stock opened at $70.64 on Friday. The stock has a 50 day moving average of $72.74 and a 200 day moving average of $70.46. The Cooper Companies, Inc. has a 12 month low of $58.89 and a 12 month high of $89.83. The firm has a market cap of $13.78 billion, a PE ratio of 59.86, a PEG ratio of 1.82 and a beta of 0.82. The company has a current ratio of 1.27, a quick ratio of 0.78 and a debt-to-equity ratio of 0.23.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.11. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. Cooper Companies had a return on equity of 10.88% and a net margin of 5.57%.The company's revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS. On average, research analysts expect that The Cooper Companies, Inc. will post 4.63 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding COO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Cooper Companies, Inc. (NASDAQ:COO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source