The Cooper Companies, Inc. (NASDAQ:COO) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its holdings in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 10.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,529,990 shares of the medical device company's stock after selling 521,421 shares during the quarter. Alliancebernstein L.P. owned 2.27% of Cooper Companies worth $416,442,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Cooper Companies during the 4th quarter valued at about $217,906,000. Raymond James Financial Inc. acquired a new stake in Cooper Companies during the fourth quarter worth about $64,826,000. Victory Capital Management Inc. raised its position in Cooper Companies by 14.6% during the fourth quarter. Victory Capital Management Inc. now owns 4,525,018 shares of the medical device company's stock valued at $415,985,000 after acquiring an additional 574,899 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Cooper Companies by 13.2% in the third quarter. JPMorgan Chase & Co. now owns 4,930,022 shares of the medical device company's stock valued at $543,979,000 after acquiring an additional 573,908 shares during the period. Finally, Wealthfront Advisers LLC lifted its holdings in Cooper Companies by 4,594.1% in the fourth quarter. Wealthfront Advisers LLC now owns 569,812 shares of the medical device company's stock valued at $52,383,000 after acquiring an additional 557,673 shares during the period. Hedge funds and other institutional investors own 24.39% of the company's stock.

Cooper Companies Price Performance

NASDAQ COO traded down $4.40 during mid-day trading on Friday, hitting $73.77. The stock had a trading volume of 2,661,526 shares, compared to its average volume of 1,367,710. The Cooper Companies, Inc. has a twelve month low of $73.34 and a twelve month high of $112.38. 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's 50 day moving average is $87.76 and its 200 day moving average is $96.24. The stock has a market capitalization of $14.75 billion, a price-to-earnings ratio of 37.83, a PEG ratio of 2.25 and a beta of 1.01.

Cooper Companies (NASDAQ:COO - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The medical device company reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. The firm had revenue of $964.70 million for the quarter, compared to the consensus estimate of $981.25 million. Equities research analysts forecast that The Cooper Companies, Inc. will post 3.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COO. Wells Fargo & Company lifted their target price on shares of Cooper Companies from $115.00 to $118.00 and gave the company an "overweight" rating in a report on Friday, December 6th. JPMorgan Chase & Co. decreased their price objective on shares of Cooper Companies from $120.00 to $110.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. Citigroup dropped their target price on Cooper Companies from $115.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, March 7th. StockNews.com lowered Cooper Companies from a "buy" rating to a "hold" rating in a research note on Wednesday, December 11th. Finally, BNP Paribas upgraded Cooper Companies to a "hold" rating in a research report on Thursday, March 13th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $110.25.

Cooper Companies Company 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.