Point72 Asset Management L.P. Cuts Position in The Cooper Companies, Inc. (NASDAQ:COO)

Point72 Asset Management L.P. decreased its holdings in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 5.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,139 shares of the medical device company's stock after selling 9,492 shares during the period. Point72 Asset Management L.P. owned about 0.09% of Cooper Companies worth $16,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in COO. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Cooper Companies during the fourth quarter valued at approximately $691,000. Highland Capital Management LLC purchased a new stake in shares of Cooper Companies during the fourth quarter worth approximately $4,004,000. Caprock Group LLC acquired a new position in Cooper Companies in the 4th quarter valued at $282,000. Entropy Technologies LP acquired a new position in Cooper Companies in the 4th quarter valued at $248,000. Finally, Lecap Asset Management Ltd. lifted its holdings in Cooper Companies by 33.1% in the 4th quarter. Lecap Asset Management Ltd. now owns 11,955 shares of the medical device company's stock valued at $1,099,000 after purchasing an additional 2,974 shares in the last quarter. Hedge funds and other institutional investors own 24.39% of the company's stock.

Analysts Set New Price Targets

COO has been the subject of a number of recent research reports. Piper Sandler reiterated an "overweight" rating and issued a $115.00 target price (down from $120.00) on shares of Cooper Companies in a research report on Friday, March 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Cooper Companies in a research note on Friday, March 7th. Robert W. Baird decreased their target price on shares of Cooper Companies from $117.00 to $107.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Citigroup lowered their target price on Cooper Companies from $115.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, March 7th. Finally, BNP Paribas upgraded Cooper Companies to a "hold" rating in a research report on Thursday, March 13th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Cooper Companies presently has a consensus rating of "Moderate Buy" and an average price target of $110.25.

Cooper Companies Trading Down 2.6%

Shares of COO stock traded down $2.13 during trading on Wednesday, hitting $79.37. 1,546,588 shares of the stock traded hands, compared to its average volume of 1,481,107. The Cooper Companies, Inc. has a 52-week low of $69.81 and a 52-week high of $112.38. The firm has a market capitalization of $15.87 billion, a P/E ratio of 40.70, a price-to-earnings-growth ratio of 2.25 and a beta of 1.08. The firm's fifty day moving average price is $80.33 and its 200-day moving average price is $89.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.12.

Cooper Companies (NASDAQ:COO - Get Free Report) last posted its earnings results on Thursday, March 6th. The medical device company reported $0.92 EPS for the quarter, meeting analysts' consensus estimates of $0.92. The company had revenue of $964.70 million for the quarter, compared to the consensus estimate of $981.25 million. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. As a group, research 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.