Van ECK Associates Corp Purchases Shares of 38,397 The Cooper Companies, Inc. $COO

Key Points

• Van ECK Associates initiated a position in Cooper Companies by purchasing 38,397 shares valued at approximately $2.75 million. Other major institutions, including BlackRock and Generation Investment Management, also acquired significant stakes.
• Analyst views remain mixed: the stock has an overall “Hold” rating and an average price target of $81.64, with targets ranging from $71 to $86 among recent analysts.
• Cooper Companies reported quarterly earnings of $1.21 per share, exceeding estimates of $1.10, while revenue rose 7.9% year over year to $1.08 billion. Shares opened at $70.64, with a market capitalization of approximately $13.78 billion.

Van ECK Associates Corp purchased a new stake in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 38,397 shares of the medical device company's stock, valued at approximately $2,753,000.

A number of other institutional investors have also made changes to their positions in COO. BlackRock Inc. acquired a new stake in Cooper Companies in the 2nd quarter valued at approximately $1,077,762,000. Generation Investment Management LLP acquired a new position in shares of Cooper Companies during the second quarter worth approximately $356,304,000. Wellington Management Group LLP boosted its position in shares of Cooper Companies by 332.9% in the third quarter. Wellington Management Group LLP now owns 6,184,992 shares of the medical device company's stock valued at $424,043,000 after acquiring an additional 4,756,178 shares during the period. Jupiter Topco LLC acquired a new stake in shares of Cooper Companies in the second quarter worth $305,074,000. Finally, Diamond Hill Capital Management Inc. increased its position in Cooper Companies by 479.6% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 3,287,837 shares of the medical device company's stock worth $269,471,000 after acquiring an additional 2,720,594 shares during the period. 24.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

COO has been the subject of a number of research reports. Weiss Ratings downgraded shares of Cooper Companies from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday, June 8th. Wall Street Zen raised shares of Cooper Companies from a "hold" rating to a "buy" rating in a research report on Sunday, June 21st. JPMorgan Chase & Co. reduced their target price on shares of Cooper Companies from $80.00 to $71.00 and set a "neutral" rating for the company in a research note on Friday, June 5th. Needham & Company LLC decreased their target price on Cooper Companies from $101.00 to $86.00 and set a "buy" rating on the stock in a research report on Friday, June 5th. Finally, Mizuho set a $85.00 price target on Cooper Companies and gave the company an "outperform" rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $81.64.

Cooper Companies Trading Up 1.3%

Shares of Cooper Companies stock opened at $70.64 on Friday. The Cooper Companies, Inc. has a 52-week low of $58.89 and a 52-week high of $89.83. The firm 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. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.27 and a quick ratio of 0.78. The company's fifty day moving average price is $72.74 and its two-hundred day moving average price is $70.46.

Cooper Companies (NASDAQ:COO - Get Free Report) last released its quarterly earnings data on Thursday, June 4th. The medical device company reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.11. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. Cooper Companies had a net margin of 5.57% and a return on equity of 10.88%. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $0.96 EPS. On average, analysts expect that The Cooper Companies, Inc. will post 4.63 EPS for the current year.

Cooper Companies Profile

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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