The Cooper Companies, Inc. (NASDAQ:COO) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lessened its holdings in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 57.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 380,544 shares of the medical device company's stock after selling 505,054 shares during the quarter. Jennison Associates LLC owned 0.19% of Cooper Companies worth $32,099,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several brokerages recently weighed in on COO. BNP Paribas raised Cooper Companies from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Loop Capital set a $100.00 price objective on Cooper Companies in a report on Tuesday, June 17th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $76.00 target price (down previously from $110.00) on shares of Cooper Companies in a research report on Friday, May 30th. Wall Street Zen downgraded Cooper Companies from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Robert W. Baird dropped their target price on shares of Cooper Companies from $107.00 to $97.00 and set an "outperform" rating for the company in a report on Friday, May 30th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Cooper Companies presently has a consensus rating of "Moderate Buy" and an average target price of $96.73.

Cooper Companies Price Performance

NASDAQ:COO traded down $0.21 during trading hours on Wednesday, hitting $72.82. 631,260 shares of the stock traded hands, compared to its average volume of 1,775,647. 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 1 year low of $65.00 and a 1 year high of $112.38. The stock has a 50 day moving average price of $74.03 and a 200 day moving average price of $81.92. The company has a market cap of $14.56 billion, a price-to-earnings ratio of 35.37, a price-to-earnings-growth ratio of 1.74 and a beta of 0.99.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $995.12 million. Cooper Companies had a return on equity of 9.60% and a net margin of 10.39%. The company's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.85 earnings per share. Sell-side analysts forecast that The Cooper Companies, Inc. will post 3.98 EPS for the current fiscal 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.