Figure 8 Investment Strategies LLC Makes New Investment in The Cooper Companies, Inc. (NASDAQ:COO)

Figure 8 Investment Strategies LLC purchased a new position in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,795 shares of the medical device company's stock, valued at approximately $1,360,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its position in 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 valued at $435,856,000 after buying an additional 737,726 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Cooper Companies during the fourth quarter valued at $691,000. Highland Capital Management LLC purchased a new position in Cooper Companies during the fourth quarter valued at $4,004,000. Franklin Resources Inc. lifted its position in Cooper Companies by 194.0% during the third quarter. Franklin Resources Inc. now owns 48,892 shares of the medical device company's stock valued at $5,265,000 after buying an additional 32,260 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Cooper Companies by 6.6% during the third quarter. Principal Financial Group Inc. now owns 238,305 shares of the medical device company's stock valued at $26,295,000 after buying an additional 14,687 shares during the period. Hedge funds and other institutional investors own 24.39% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wells Fargo & Company raised their price target on Cooper Companies from $115.00 to $118.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Morgan Stanley reduced their price target on Cooper Companies from $104.00 to $102.00 and set an "equal weight" rating for the company in a report on Friday, December 6th. Citigroup reduced their price target on Cooper Companies from $116.00 to $115.00 and set a "buy" rating for the company in a report on Friday, December 6th. Needham & Company LLC restated a "hold" rating on shares of Cooper Companies in a report on Friday, December 6th. Finally, StockNews.com downgraded Cooper Companies from a "buy" rating to a "hold" rating in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $117.00.

Cooper Companies Stock Performance

Shares of Cooper Companies stock traded down $0.81 during trading hours on Tuesday, reaching $87.29. 1,754,818 shares of the stock traded hands, compared to its average volume of 1,327,430. The company has a 50 day moving average price of $93.48 and a 200 day moving average price of $99.74. The firm has a market capitalization of $17.42 billion, a price-to-earnings ratio of 44.76, a P/E/G ratio of 2.41 and a beta of 1.00. The Cooper Companies, Inc. has a one year low of $84.76 and a one year high of $112.38. The company has a quick ratio of 1.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.32.

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

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.