Rhumbline Advisers Boosts Position in The Cooper Companies, Inc. (NASDAQ:COO)

Rhumbline Advisers raised its position in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 9.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 388,960 shares of the medical device company's stock after purchasing an additional 34,060 shares during the period. Rhumbline Advisers owned about 0.19% of Cooper Companies worth $32,809,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Byrne Asset Management LLC purchased a new position in Cooper Companies in the 4th quarter valued at about $33,000. OFI Invest Asset Management purchased a new position in Cooper Companies in the 4th quarter valued at about $34,000. New Age Alpha Advisors LLC purchased a new position in Cooper Companies in the 4th quarter valued at about $38,000. Covestor Ltd lifted its holdings in Cooper Companies by 35.5% in the 4th quarter. Covestor Ltd now owns 458 shares of the medical device company's stock valued at $42,000 after purchasing an additional 120 shares in the last quarter. Finally, Atala Financial Inc purchased a new position in Cooper Companies in the 4th quarter valued at about $51,000. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Cooper Companies Trading Up 1.6%

NASDAQ COO traded up $1.15 during mid-day trading on Friday, hitting $72.33. The company's stock had a trading volume of 4,093,480 shares, compared to its average volume of 1,595,301. The Cooper Companies, Inc. has a 52-week low of $65.00 and a 52-week high of $112.38. The stock's fifty day simple moving average is $78.35 and its two-hundred day simple moving average is $87.22. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.12. The firm has a market capitalization of $14.46 billion, a P/E ratio of 37.09, a price-to-earnings-growth ratio of 2.25 and a beta of 0.98.

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 the consensus estimate of $0.93 by $0.03. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $995.12 million. During the same quarter last year, the firm posted $0.85 earnings per share. Cooper Companies's revenue for the quarter was up 6.3% compared to the same quarter last year. Research analysts expect that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on COO. Wall Street Zen lowered shares of Cooper Companies from a "buy" rating to a "hold" rating in a report on Saturday. Citigroup reduced their target price on shares of Cooper Companies from $115.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, March 7th. Robert W. Baird cut their price objective on shares of Cooper Companies from $107.00 to $97.00 and set an "outperform" rating on the stock in a report on Friday, May 30th. Piper Sandler reiterated an "overweight" rating and set a $105.00 price objective (down from $115.00) on shares of Cooper Companies in a report on Friday, May 30th. Finally, Stifel Nicolaus cut their price objective on shares of Cooper Companies from $115.00 to $105.00 and set a "buy" rating on the stock in a report on Friday, March 7th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $100.38.

Cooper Companies Profile

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.