LPL Financial LLC Acquires 6,657 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

Key Points

• LPL Financial LLC increased its stake in The Cooper Companies by 4.7%, acquiring an additional 6,657 shares, bringing its total holdings to 148,261 shares valued at approximately $12.5 million.
• Price T Rowe Associates Inc. MD significantly boosted its investment in The Cooper Companies by 517% in the fourth quarter, now holding over 3.5 million shares valued at around $324 million.
• The Cooper Companies reported a net margin of 10.39% and exceeded earnings expectations, posting an EPS of $0.96 against a consensus estimate of $0.93.

LPL Financial LLC lifted its position in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 4.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 148,261 shares of the medical device company's stock after acquiring an additional 6,657 shares during the period. LPL Financial LLC owned approximately 0.07% of Cooper Companies worth $12,506,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in Cooper Companies by 517.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,529,477 shares of the medical device company's stock valued at $324,466,000 after acquiring an additional 2,957,421 shares during the period. FMR LLC lifted its stake in shares of Cooper Companies by 97.6% in the fourth quarter. FMR LLC now owns 2,218,112 shares of the medical device company's stock valued at $203,911,000 after buying an additional 1,095,805 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Cooper Companies by 8,337.0% in the first quarter. SG Americas Securities LLC now owns 369,542 shares of the medical device company's stock valued at $31,171,000 after buying an additional 365,162 shares in the last quarter. Alecta Tjanstepension Omsesidigt lifted its position in shares of Cooper Companies by 55.8% during the first quarter. Alecta Tjanstepension Omsesidigt now owns 839,700 shares of the medical device company's stock valued at $70,829,000 after purchasing an additional 300,700 shares in the last quarter. Finally, Northern Trust Corp raised its position in Cooper Companies by 15.4% in the fourth quarter. Northern Trust Corp now owns 2,018,898 shares of the medical device company's stock worth $185,597,000 after acquiring an additional 268,972 shares during the period. 24.39% of the stock is currently owned by institutional investors and hedge funds.

Cooper Companies Stock Up 1.6%

Shares of COO stock opened at $69.20 on Friday. The company has a 50 day simple moving average of $71.50 and a two-hundred day simple moving average of $80.12. The stock has a market cap of $13.84 billion, a P/E ratio of 33.59, a P/E/G ratio of 1.66 and a beta of 1.00. The Cooper Companies, Inc. has a 12 month low of $65.00 and a 12 month high of $112.38. The company has a current ratio of 2.10, a quick ratio of 1.23 and a debt-to-equity ratio of 0.30.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on COO. Piper Sandler reiterated an "overweight" rating and issued a $105.00 target price (down previously from $115.00) on shares of Cooper Companies in a research note on Friday, May 30th. BNP Paribas Exane upgraded shares of Cooper Companies from a "neutral" rating to an "outperform" rating and set a $92.00 price objective for the company in a report on Tuesday, July 22nd. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $76.00 price target (down from $110.00) on shares of Cooper Companies in a report on Friday, May 30th. Loop Capital set a $100.00 price objective on shares of Cooper Companies in a research report on Tuesday, June 17th. Finally, Wells Fargo & Company reduced their target price on shares of Cooper Companies from $118.00 to $93.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $96.73.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.