The Cooper Companies, Inc. $COO Shares Purchased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in The Cooper Companies, Inc. by 76.1% during the first quarter, now owning approximately 304,000 shares valued at roughly $59.35 million.
• Cooper Companies reported earnings of $0.96 per share for the quarter, exceeding analyst expectations of $0.93, with year-over-year revenue growth of 6.3%.
• Wall Street analysts have mixed ratings for Cooper Companies, with a consensus of "Moderate Buy" and a target price averaging $96.73.

Russell Investments Group Ltd. boosted its stake in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 76.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 703,690 shares of the medical device company's stock after purchasing an additional 304,000 shares during the period. Russell Investments Group Ltd. owned 0.35% of Cooper Companies worth $59,348,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in COO. Zions Bancorporation National Association UT bought a new position in Cooper Companies during the 1st quarter worth $33,000. City Holding Co. acquired a new stake in Cooper Companies during the first quarter worth approximately $34,000. Covestor Ltd grew its holdings in Cooper Companies by 35.5% in the fourth quarter. Covestor Ltd now owns 458 shares of the medical device company's stock worth $42,000 after purchasing an additional 120 shares during the period. Larson Financial Group LLC raised its stake in Cooper Companies by 1,071.0% during the 1st quarter. Larson Financial Group LLC now owns 726 shares of the medical device company's stock worth $61,000 after buying an additional 664 shares during the period. Finally, HM Payson & Co. increased its stake in Cooper Companies by 147.4% during the 1st quarter. HM Payson & Co. now owns 893 shares of the medical device company's stock valued at $75,000 after purchasing an additional 532 shares in the last quarter. 24.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on COO shares. Wall Street Zen lowered shares of Cooper Companies from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. BNP Paribas raised Cooper Companies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. Piper Sandler reaffirmed an "overweight" rating and set a $105.00 target price (down previously from $115.00) on shares of Cooper Companies in a research note on Friday, May 30th. UBS Group upgraded shares of Cooper Companies to a "buy" rating in a report on Tuesday, June 17th. Finally, BNP Paribas Exane raised Cooper Companies from a "neutral" rating to an "outperform" rating and set a $92.00 target price on the stock in a research note on Tuesday, July 22nd. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $96.73.

Cooper Companies Stock Performance

COO stock traded up $0.79 during midday trading on Monday, hitting $74.05. 573,806 shares of the stock traded hands, compared to its average volume of 2,148,228. 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 stock's fifty day simple moving average is $71.92 and its 200-day simple moving average is $78.84. The firm has a market cap of $14.81 billion, a P/E ratio of 35.94, a PEG ratio of 1.79 and a beta of 1.00.

Cooper Companies (NASDAQ:COO - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. Cooper Companies's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 earnings per share. On average, analysts expect that The Cooper Companies, Inc. will post 3.98 earnings per share for the current year.

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.