Geode Capital Management LLC Buys 109,907 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

Geode Capital Management LLC raised its holdings in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,906,463 shares of the medical device company's stock after buying an additional 109,907 shares during the period. Geode Capital Management LLC owned about 2.46% of Cooper Companies worth $449,907,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Cooper Companies in the 4th quarter worth $217,906,000. Raymond James Financial Inc. purchased a new position in shares of Cooper Companies in the fourth quarter worth approximately $64,826,000. Victory Capital Management Inc. lifted its holdings in shares of Cooper Companies by 14.6% in 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 purchasing an additional 574,899 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of 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 worth $543,979,000 after acquiring an additional 573,908 shares during the last quarter. Finally, Wealthfront Advisers LLC grew its holdings in Cooper Companies by 4,594.1% during the fourth quarter. Wealthfront Advisers LLC now owns 569,812 shares of the medical device company's stock valued at $52,383,000 after purchasing an additional 557,673 shares during the last quarter. Institutional investors and hedge funds own 24.39% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

COO has been the subject of a number of research analyst reports. Citigroup cut their target price on shares of Cooper Companies from $115.00 to $110.00 and set a "buy" rating for the company in a research report on Friday, March 7th. Piper Sandler reaffirmed an "overweight" rating and issued a $115.00 target price (down previously from $120.00) on shares of Cooper Companies in a report on Friday, March 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Cooper Companies in a report on Friday, March 7th. Stifel Nicolaus cut their price target on shares of Cooper Companies from $115.00 to $105.00 and set a "buy" rating for the company in a research note on Friday, March 7th. Finally, BNP Paribas upgraded shares of Cooper Companies to a "hold" rating in a research report on Thursday, March 13th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Cooper Companies has an average rating of "Moderate Buy" and a consensus target price of $110.25.

Cooper Companies Trading Down 5.7 %

NASDAQ:COO traded down $4.44 on Thursday, hitting $73.46. 642,637 shares of the stock were exchanged, compared to its average volume of 1,378,820. The stock has a market capitalization of $14.69 billion, a price-to-earnings ratio of 37.71, a P/E/G ratio of 2.25 and a beta of 1.01. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.12 and a current ratio of 1.91. The Cooper Companies, Inc. has a 52 week low of $69.81 and a 52 week high of $112.38. The company's 50-day moving average price is $85.39 and its 200 day moving average price is $95.08.

Cooper Companies (NASDAQ:COO - Get Free Report) last released its earnings results on Thursday, March 6th. The medical device company reported $0.92 EPS for the quarter, hitting analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $981.25 million. On average, equities research analysts forecast that The Cooper Companies, Inc. will post 3.98 earnings per share for the current year.

Cooper Companies 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.