Praxis Investment Management Inc. Reduces Position in The Cooper Companies, Inc. (NASDAQ:COO)

Praxis Investment Management Inc. lessened its position in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 58.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,780 shares of the medical device company's stock after selling 5,244 shares during the quarter. Praxis Investment Management Inc.'s holdings in Cooper Companies were worth $319,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Covea Finance lifted its position in shares of Cooper Companies by 95.7% during the first quarter. Covea Finance now owns 46,000 shares of the medical device company's stock worth $3,880,000 after purchasing an additional 22,500 shares in the last quarter. Boston Trust Walden Corp raised its stake in shares of Cooper Companies by 4.3% in the 1st quarter. Boston Trust Walden Corp now owns 1,437,977 shares of the medical device company's stock valued at $121,293,000 after purchasing an additional 58,687 shares during the period. State of Alaska Department of Revenue lifted its stake in Cooper Companies by 3.0% in the 1st quarter. State of Alaska Department of Revenue now owns 23,390 shares of the medical device company's stock valued at $1,972,000 after acquiring an additional 680 shares in the last quarter. Prentiss Smith & Co. Inc. acquired a new position in shares of Cooper Companies during the 1st quarter worth about $4,150,000. Finally, Exchange Traded Concepts LLC increased its position in shares of Cooper Companies by 16.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,502 shares of the medical device company's stock worth $127,000 after purchasing an additional 210 shares during the last quarter. 24.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on COO shares. 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 report on Friday, May 30th. Piper Sandler reaffirmed an "overweight" rating and issued a $105.00 target price (down previously from $115.00) on shares of Cooper Companies in a report on Friday, May 30th. Stifel Nicolaus reduced their price objective on Cooper Companies from $115.00 to $105.00 and set a "buy" rating on the stock in a research report on Friday, March 7th. Wall Street Zen lowered shares of Cooper Companies from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Finally, UBS Group upgraded shares of Cooper Companies to a "buy" rating in a research report on Tuesday, June 17th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $99.70.

Cooper Companies Trading Up 2.0%

NASDAQ:COO traded up $1.41 during mid-day trading on Tuesday, reaching $70.93. 4,258,340 shares of the company's stock traded hands, compared to its average volume of 1,670,712. 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 Cooper Companies, Inc. has a 12-month low of $65.00 and a 12-month high of $112.38. The firm has a market capitalization of $14.18 billion, a price-to-earnings ratio of 34.43, a PEG ratio of 1.70 and a beta of 0.98. The company has a 50 day moving average price of $76.95 and a 200-day moving average price of $84.63.

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