Covea Finance Cuts Position in The Cooper Companies, Inc. (NASDAQ:COO)

Covea Finance lowered its stake in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 26.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,500 shares of the medical device company's stock after selling 8,500 shares during the quarter. Covea Finance's holdings in Cooper Companies were worth $2,160,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Point72 Asset Management L.P. increased its position in shares of Cooper Companies by 480.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 937,806 shares of the medical device company's stock valued at $81,870,000 after purchasing an additional 776,140 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Cooper Companies by 23.0% during the third quarter. Victory Capital Management Inc. now owns 3,950,119 shares of the medical device company's stock worth $435,856,000 after purchasing an additional 737,726 shares in the last quarter. Magnetar Financial LLC purchased a new position in Cooper Companies in the second quarter valued at $63,822,000. JPMorgan Chase & Co. raised its stake 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 buying an additional 573,908 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Cooper Companies during the 3rd quarter worth about $46,727,000. 24.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COO has been the topic of several research analyst reports. Wells Fargo & Company raised their target price on Cooper Companies from $115.00 to $118.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Citigroup cut their price objective on shares of Cooper Companies from $116.00 to $115.00 and set a "buy" rating on the stock in a report on Friday, December 6th. Morgan Stanley lowered their target price on shares of Cooper Companies from $104.00 to $102.00 and set an "equal weight" rating for the company in a report on Friday, December 6th. StockNews.com lowered shares of Cooper Companies from a "buy" rating to a "hold" rating in a research note on Wednesday, December 11th. Finally, Needham & Company LLC restated a "hold" rating on shares of Cooper Companies in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $117.00.

Cooper Companies Stock Performance

Shares of NASDAQ COO traded up $1.57 during midday trading on Wednesday, reaching $90.68. 1,897,199 shares of the company were exchanged, compared to its average volume of 1,403,833. The stock has a market cap of $18.10 billion, a P/E ratio of 46.50, a PEG ratio of 2.40 and a beta of 0.99. The Cooper Companies, Inc. has a 1 year low of $84.76 and a 1 year high of $112.38. The stock has a fifty day simple moving average of $97.24 and a 200 day simple moving average of $98.95. The company has a current ratio of 1.91, a quick ratio of 1.12 and a debt-to-equity ratio of 0.32.

Cooper Companies (NASDAQ:COO - Get Free Report) last announced its earnings results on Thursday, December 5th. The medical device company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the business posted $0.87 EPS. The company's revenue was up 9.8% on a year-over-year basis. On average, research analysts forecast that The Cooper Companies, Inc. will post 3.98 earnings per share for the current fiscal year.

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.