JPMorgan Chase & Co. Acquires 172,485 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

Key Points

• JPMorgan Chase & Co. increased its stake in The Cooper Companies by 3.4%, acquiring an additional 172,485 shares, bringing its total ownership to 5,177,008 shares valued at approximately $436.68 million.
• Several institutional investors, including Citigroup Inc. and National Bank of Canada FI, have also significantly increased their positions in Cooper Companies during the first quarter, collectively reflecting strong interest in the stock.
• Analysts have mixed ratings on Cooper Companies, with a consensus rating of "Moderate Buy" and an average price target of $96.73, along with recent downgrades from firms like Robert W. Baird and Wells Fargo.

JPMorgan Chase & Co. lifted its holdings in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 3.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,177,008 shares of the medical device company's stock after purchasing an additional 172,485 shares during the period. JPMorgan Chase & Co. owned 2.59% of Cooper Companies worth $436,681,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new position in Cooper Companies during the first quarter valued at about $33,000. Townsquare Capital LLC increased its stake in Cooper Companies by 0.3% during the first quarter. Townsquare Capital LLC now owns 116,473 shares of the medical device company's stock valued at $9,825,000 after acquiring an additional 378 shares during the period. National Bank of Canada FI increased its stake in Cooper Companies by 61.3% during the first quarter. National Bank of Canada FI now owns 150,585 shares of the medical device company's stock valued at $12,702,000 after acquiring an additional 57,201 shares during the period. Citigroup Inc. boosted its holdings in Cooper Companies by 84.0% during the first quarter. Citigroup Inc. now owns 210,699 shares of the medical device company's stock valued at $17,772,000 after purchasing an additional 96,180 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Cooper Companies by 12.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 345,309 shares of the medical device company's stock valued at $29,127,000 after purchasing an additional 38,317 shares in the last quarter. 24.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on COO. Robert W. Baird decreased their price objective on Cooper Companies from $107.00 to $97.00 and set an "outperform" rating on the stock in a report on Friday, May 30th. Wall Street Zen downgraded Cooper Companies from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Piper Sandler reissued an "overweight" rating and issued a $105.00 target price (down from $115.00) on shares of Cooper Companies in a report on Friday, May 30th. UBS Group raised Cooper Companies to a "buy" rating in a report on Tuesday, June 17th. Finally, Wells Fargo & Company reduced their target price on Cooper Companies from $118.00 to $93.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cooper Companies has a consensus rating of "Moderate Buy" and an average price target of $96.73.

Cooper Companies Stock Performance

COO stock opened at $70.88 on Tuesday. The business's fifty day moving average is $71.61 and its 200-day moving average is $79.55. 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 company has a market cap of $14.17 billion, a P/E ratio of 34.41, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00. The Cooper Companies, Inc. has a twelve month low of $65.00 and a twelve month high of $112.38.

Cooper Companies (NASDAQ:COO - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The medical device company reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. Cooper Companies had a net margin of 10.39% and a return on equity of 9.60%. The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $995.12 million. During the same quarter in the prior year, the company earned $0.85 EPS. The firm's quarterly revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

Cooper Companies Company Profile

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.

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