Public Employees Retirement System of Ohio Takes $4.32 Million Position in The Cooper Companies, Inc. $COO

Key Points

• Public Employees Retirement System of Ohio acquired 60,195 shares of Cooper Companies worth approximately $4.32 million during the second quarter. Institutional investors and hedge funds collectively own 24.39% of the company.
• Analyst sentiment remains mixed, with ratings ranging from “Strong Buy” to “Sell.” The stock has an average “Hold” rating and a consensus price target of $81.64.
• Cooper Companies reported quarterly adjusted earnings of $1.21 per share, exceeding estimates of $1.10, while revenue rose 7.9% year over year to $1.08 billion.

Public Employees Retirement System of Ohio bought a new position in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 60,195 shares of the medical device company's stock, valued at approximately $4,317,000.

Several other hedge funds have also bought and sold shares of COO. Algert Global LLC purchased a new position in shares of Cooper Companies during the second quarter valued at approximately $7,655,000. BlackRock Inc. purchased a new stake in Cooper Companies in the 2nd quarter valued at $1,077,762,000. Heartland Advisors Inc. bought a new position in Cooper Companies during the 4th quarter valued at $15,348,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Cooper Companies by 6.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 421,948 shares of the medical device company's stock worth $34,224,000 after acquiring an additional 23,896 shares during the last quarter. Finally, Tocqueville Asset Management L.P. bought a new stake in shares of Cooper Companies in the 2nd quarter worth $1,502,000. Institutional investors and hedge funds own 24.39% of the company's stock.

Analysts Set New Price Targets

COO has been the topic of a number of recent analyst reports. KeyCorp reissued a "sector weight" rating on shares of Cooper Companies in a research report on Friday, June 5th. Wells Fargo & Company reiterated a "sell" rating and issued a $66.00 price objective (down from $82.00) on shares of Cooper Companies in a research note on Friday, June 5th. BNP Paribas Exane dropped their target price on shares of Cooper Companies from $95.00 to $92.00 and set an "outperform" rating on the stock in a research report on Monday, June 8th. Wall Street Zen raised Cooper Companies from a "hold" rating to a "buy" rating in a report on Sunday, June 21st. Finally, Piper Sandler set a $86.00 price target on Cooper Companies and gave the stock an "overweight" rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, Cooper Companies presently has an average rating of "Hold" and a consensus target price of $81.64.

Cooper Companies Trading Up 1.3%

NASDAQ:COO opened at $70.64 on Friday. The Cooper Companies, Inc. has a 12 month low of $58.89 and a 12 month high of $89.83. The company has a current ratio of 1.27, a quick ratio of 0.78 and a debt-to-equity ratio of 0.23. The firm's 50 day moving average is $72.74 and its 200 day moving average is $70.46. The stock has a market capitalization of $13.78 billion, a PE ratio of 59.86, a price-to-earnings-growth ratio of 1.82 and a beta of 0.82.

Cooper Companies (NASDAQ:COO - Get Free Report) last issued its earnings results on Thursday, June 4th. The medical device company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.11. Cooper Companies had a return on equity of 10.88% and a net margin of 5.57%.The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the company posted $0.96 earnings per share. The business's revenue was up 7.9% on a year-over-year basis. Sell-side analysts expect that The Cooper Companies, Inc. will post 4.63 earnings per share for the current year.

About Cooper Companies

Cooper Companies, Inc NASDAQ: COO is a global medical device company headquartered in San Ramon, California. Founded in 1958, the company has grown through strategic acquisitions and organic development to become a major provider of vision care and women's health products. Cooper Companies operates through two primary business segments—CooperVision and CooperSurgical—each serving specialized markets within the healthcare industry.

The CooperVision segment develops, manufactures and markets a broad range of soft contact lenses, as well as related accessories.

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