The Cooper Companies, Inc. (NASDAQ:COO) Position Trimmed by M&T Bank Corp

M&T Bank Corp reduced its holdings in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 32.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,414 shares of the medical device company's stock after selling 26,315 shares during the quarter. M&T Bank Corp's holdings in Cooper Companies were worth $4,589,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd lifted its position in Cooper Companies by 35.5% during the fourth quarter. Covestor Ltd now owns 458 shares of the medical device company's stock worth $42,000 after buying an additional 120 shares during the period. Shell Asset Management Co. boosted its position in shares of Cooper Companies by 15.5% in the fourth quarter. Shell Asset Management Co. now owns 946 shares of the medical device company's stock worth $87,000 after acquiring an additional 127 shares during the last quarter. UMB Bank n.a. grew its holdings in Cooper Companies by 16.7% in the first quarter. UMB Bank n.a. now owns 902 shares of the medical device company's stock valued at $76,000 after purchasing an additional 129 shares during the period. Mitchell & Pahl Private Wealth LLC increased its position in Cooper Companies by 1.8% during the first quarter. Mitchell & Pahl Private Wealth LLC now owns 8,675 shares of the medical device company's stock worth $732,000 after purchasing an additional 157 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its position in Cooper Companies by 0.8% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 24,054 shares of the medical device company's stock worth $2,221,000 after purchasing an additional 193 shares during the last quarter. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on COO. Robert W. Baird dropped their price target on shares of Cooper Companies from $107.00 to $97.00 and set an "outperform" rating for the company in a research report on Friday, May 30th. Wells Fargo & Company dropped their price target on shares of Cooper Companies from $118.00 to $93.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Needham & Company LLC raised shares of Cooper Companies from a "hold" rating to a "buy" rating and set a $94.00 price target for the company in a research report on Tuesday, June 17th. Piper Sandler reaffirmed an "overweight" rating and set a $105.00 price target (down previously from $115.00) on shares of Cooper Companies in a research report on Friday, May 30th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $76.00 price target (down previously from $110.00) on shares of Cooper Companies in a research report on Friday, May 30th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $99.70.

Cooper Companies Stock Down 2.5%

NASDAQ:COO traded down $1.93 on Friday, reaching $74.77. The stock had a trading volume of 2,517,933 shares, compared to its average volume of 1,741,694. The company has a 50-day moving average of $75.07 and a 200 day moving average of $82.84. The company has a current ratio of 2.10, a quick ratio of 1.23 and a debt-to-equity ratio of 0.30. The stock has a market cap of $14.95 billion, a P/E ratio of 36.30, a price-to-earnings-growth ratio of 1.87 and a beta of 0.99. The Cooper Companies, Inc. has a 12-month low of $65.00 and a 12-month high of $112.38.

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 for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. Cooper Companies had a return on equity of 9.60% and a net margin of 10.39%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $995.12 million. During the same quarter last year, the firm earned $0.85 EPS. Cooper Companies's quarterly revenue was up 6.3% on a year-over-year basis. On average, research analysts predict that The Cooper Companies, Inc. will post 3.98 earnings per share for the current year.

Cooper Companies 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.