The Cooper Companies, Inc. (NASDAQ:COO) Shares Bought by National Bank of Canada FI

Key Points

• National Bank of Canada FI increased its stake in The Cooper Companies by 61.3% in Q1, now holding 150,585 shares valued at approximately $12.7 million.
• Cooper Companies reported earnings of $0.96 per share for the last quarter, surpassing expectations, with a revenue of $1 billion and a year-over-year growth of 6.3%.
• Wall Street analysts have issued a consensus "Moderate Buy" rating for Cooper Companies, with an average target price of $96.73, indicating confidence in the company's future performance.

National Bank of Canada FI lifted its position in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 61.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 150,585 shares of the medical device company's stock after purchasing an additional 57,201 shares during the period. National Bank of Canada FI owned 0.08% of Cooper Companies worth $12,702,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in COO. Citigroup Inc. boosted its position in Cooper Companies by 84.0% during the first quarter. Citigroup Inc. now owns 210,699 shares of the medical device company's stock valued at $17,772,000 after purchasing an additional 96,180 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Cooper Companies by 12.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 345,309 shares of the medical device company's stock worth $29,127,000 after purchasing an additional 38,317 shares during the last quarter. Headlands Technologies LLC increased its position in shares of Cooper Companies by 64.2% during the first quarter. Headlands Technologies LLC now owns 83,361 shares of the medical device company's stock worth $7,032,000 after purchasing an additional 32,607 shares in the last quarter. Deutsche Bank AG increased its position in shares of Cooper Companies by 10.3% during the first quarter. Deutsche Bank AG now owns 1,282,152 shares of the medical device company's stock worth $108,150,000 after purchasing an additional 119,278 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Cooper Companies by 2.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,175,019 shares of the medical device company's stock valued at $99,113,000 after buying an additional 23,365 shares in the last quarter. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Cooper Companies Stock Performance

Cooper Companies stock traded down $0.83 during midday trading on Thursday, hitting $73.44. 1,116,760 shares of the company were exchanged, compared to its average volume of 2,163,685. The business has a fifty day simple moving average of $71.86 and a two-hundred day simple moving average of $79.46. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.23 and a current ratio of 2.10. The firm has a market capitalization of $14.69 billion, a PE ratio of 35.65, a price-to-earnings-growth ratio of 1.77 and a beta of 1.00. The Cooper Companies, Inc. has a fifty-two week low of $65.00 and a fifty-two week high of $112.38.

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

Wall Street Analysts Forecast Growth

COO has been the topic of a number of research analyst reports. BNP Paribas Exane upgraded Cooper Companies from a "neutral" rating to an "outperform" rating and set a $92.00 price target on the stock in a research note on Tuesday, July 22nd. Robert W. Baird cut their price target on shares of Cooper Companies from $107.00 to $97.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. BNP Paribas upgraded shares of Cooper Companies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. Piper Sandler reissued an "overweight" rating and issued a $105.00 target price (down from $115.00) on shares of Cooper Companies in a research report on Friday, May 30th. Finally, Wall Street Zen lowered Cooper Companies from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $96.73.

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.