New Age Alpha Advisors LLC Raises Holdings in The Cooper Companies, Inc. (NASDAQ:COO)

Key Points

• New Age Alpha Advisors LLC increased its holdings in The Cooper Companies by 3,223.5%, owning 13,593 shares valued at approximately $1,147,000 after purchasing an additional 13,184 shares in the first quarter.
• Cooper Companies reported $1 billion in revenue for the last quarter, exceeding analyst expectations, and earnings of $0.96 per share, slightly above the consensus estimate.
• Multiple analysts have updated their ratings on Cooper Companies, with UBS upgrading it to "buy" and several others adjusting price targets, reflecting a consensus rating of "Moderate Buy" and a target price of $96.73.

New Age Alpha Advisors LLC increased its position in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 3,223.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,593 shares of the medical device company's stock after purchasing an additional 13,184 shares during the quarter. New Age Alpha Advisors LLC's holdings in Cooper Companies were worth $1,147,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in COO. Avalon Trust Co grew its holdings in Cooper Companies by 203,860.0% in the 1st quarter. Avalon Trust Co now owns 203,960 shares of the medical device company's stock valued at $17,204,000 after buying an additional 203,860 shares in the last quarter. Jefferies Financial Group Inc. grew its holdings in Cooper Companies by 39.7% in the 1st quarter. Jefferies Financial Group Inc. now owns 67,768 shares of the medical device company's stock valued at $5,716,000 after buying an additional 19,254 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its holdings in Cooper Companies by 28.5% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 13,722 shares of the medical device company's stock valued at $1,157,000 after buying an additional 3,041 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Cooper Companies by 10.4% in the 1st quarter. Mackenzie Financial Corp now owns 21,972 shares of the medical device company's stock valued at $1,853,000 after buying an additional 2,062 shares in the last quarter. Finally, LPL Financial LLC grew its holdings in Cooper Companies by 4.7% in the 1st quarter. LPL Financial LLC now owns 148,261 shares of the medical device company's stock valued at $12,506,000 after buying an additional 6,657 shares in the last quarter. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Cooper Companies Stock Performance

Shares of COO opened at $69.20 on Friday. The stock has a 50-day simple moving average of $71.50 and a 200-day simple moving average of $80.12. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.23 and a current ratio of 2.10. The stock has a market capitalization of $13.84 billion, a PE ratio of 33.59, a PEG ratio of 1.66 and a beta of 1.00. The Cooper Companies, Inc. has a 1 year low of $65.00 and a 1 year high of $112.38.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on COO. UBS Group upgraded Cooper Companies to a "buy" rating in a report on Tuesday, June 17th. Wall Street Zen lowered Cooper Companies from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Mizuho decreased their price target on Cooper Companies from $105.00 to $90.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 16th. BNP Paribas Exane raised Cooper Companies from a "neutral" rating to an "outperform" rating and set a $92.00 target price on the stock in a research note on Tuesday, July 22nd. Finally, Piper Sandler reissued an "overweight" rating and set a $105.00 target price (down previously from $115.00) on shares of Cooper Companies in a research note on Friday, May 30th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cooper Companies currently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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