Norden Group LLC Sells 5,075 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

Key Points

• Norden Group LLC reduced its stake in The Cooper Companies, Inc. by 27.1%, selling 5,075 shares and maintaining 13,685 shares valued at $1,154,000.
• Several institutional investors have increased their stakes in Cooper Companies, including Mackenzie Financial Corp, which raised its stake by 10.4% to own 21,972 shares valued at $1,853,000.
• The Cooper Companies has an average target price of $96.73 from analysts, with a current stock trading down 2.3% at $72.91.

Norden Group LLC reduced its position in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 27.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 13,685 shares of the medical device company's stock after selling 5,075 shares during the period. Norden Group LLC's holdings in Cooper Companies were worth $1,154,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mackenzie Financial Corp raised its stake 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 acquiring an additional 2,062 shares during the period. LPL Financial LLC raised its stake 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 acquiring an additional 6,657 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Cooper Companies by 17.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,727 shares of the medical device company's stock valued at $3,857,000 after acquiring an additional 6,894 shares during the period. Empirical Finance LLC raised its stake in Cooper Companies by 3.9% in the 1st quarter. Empirical Finance LLC now owns 6,973 shares of the medical device company's stock valued at $588,000 after acquiring an additional 262 shares during the period. Finally, TD Asset Management Inc raised its stake in Cooper Companies by 2.5% in the 1st quarter. TD Asset Management Inc now owns 686,198 shares of the medical device company's stock valued at $57,881,000 after acquiring an additional 16,676 shares during the period. 24.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Loop Capital set a $100.00 price target on Cooper Companies in a research report on Tuesday, June 17th. UBS Group upgraded Cooper Companies to a "buy" rating in a research report on Tuesday, June 17th. Wells Fargo & Company decreased their price target on Cooper Companies from $118.00 to $93.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Robert W. Baird decreased their price target on Cooper Companies from $107.00 to $97.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. Finally, Mizuho cut their price objective on Cooper Companies from $105.00 to $90.00 and set an "outperform" rating for the company in a report on Wednesday, July 16th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $96.73.

Cooper Companies Stock Down 2.3%

Shares of COO opened at $72.91 on Tuesday. The stock has a 50 day simple moving average of $72.96 and a two-hundred day simple moving average of $81.13. The Cooper Companies, Inc. has a 1 year low of $65.00 and a 1 year high of $112.38. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.10 and a quick ratio of 1.23. The firm has a market cap of $14.58 billion, a P/E ratio of 35.39, a P/E/G ratio of 1.82 and a beta of 0.99.

Cooper Companies (NASDAQ:COO - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $1 billion during the quarter, compared to analyst estimates of $995.12 million. During the same period in the prior year, the business posted $0.85 EPS. The firm's revenue was up 6.3% compared to the same quarter last year. On average, analysts forecast that The Cooper Companies, Inc. will post 3.98 earnings per share 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.

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