Franklin Resources Inc. Raises Stock Holdings in The Cooper Companies, Inc. (NASDAQ:COO)

Franklin Resources Inc. lifted its position in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 231.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 162,130 shares of the medical device company's stock after purchasing an additional 113,238 shares during the quarter. Franklin Resources Inc. owned 0.08% of Cooper Companies worth $14,905,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COO. Byrne Asset Management LLC bought a new stake in Cooper Companies in the fourth quarter worth $33,000. OFI Invest Asset Management purchased a new position in Cooper Companies in the 4th quarter worth approximately $34,000. New Age Alpha Advisors LLC purchased a new position in Cooper Companies in the 4th quarter worth approximately $38,000. West Financial Advisors LLC bought a new stake in Cooper Companies in the fourth quarter valued at approximately $49,000. Finally, Atala Financial Inc purchased a new stake in shares of Cooper Companies during the fourth quarter valued at approximately $51,000. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Cooper Companies Stock Up 2.8 %

Shares of Cooper Companies stock traded up $2.09 during midday trading on Friday, hitting $77.46. The company had a trading volume of 2,672,239 shares, compared to its average volume of 1,394,314. The company has a 50 day moving average of $84.64 and a 200 day moving average of $94.63. The stock has a market capitalization of $15.49 billion, a P/E ratio of 39.72, a P/E/G ratio of 2.25 and a beta of 1.01. The Cooper Companies, Inc. has a 52-week low of $69.81 and a 52-week high of $112.38. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.12 and a current ratio of 1.91.

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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 (EPS) for the quarter, hitting the consensus estimate of $0.92. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. The firm had revenue of $964.70 million during the quarter, compared to analyst estimates of $981.25 million. On average, equities analysts predict that The Cooper Companies, Inc. will post 3.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on COO. Piper Sandler reaffirmed an "overweight" rating and issued a $115.00 target price (down from $120.00) on shares of Cooper Companies in a research note on Friday, March 7th. JPMorgan Chase & Co. cut their price target on shares of Cooper Companies from $120.00 to $110.00 and set an "overweight" rating on the stock in a report on Friday, March 7th. Needham & Company LLC restated a "hold" rating on shares of Cooper Companies in a report on Friday, March 7th. BNP Paribas raised shares of Cooper Companies to a "hold" rating in a research note on Thursday, March 13th. Finally, Robert W. Baird decreased their price target on shares of Cooper Companies from $117.00 to $107.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.