JPMorgan Chase & Co. Buys 573,908 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

JPMorgan Chase & Co. increased its position in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 13.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,930,022 shares of the medical device company's stock after purchasing an additional 573,908 shares during the period. JPMorgan Chase & Co. owned approximately 2.47% of Cooper Companies worth $543,979,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in COO. Principal Financial Group Inc. grew its holdings in shares of Cooper Companies by 6.6% during the 3rd quarter. Principal Financial Group Inc. now owns 238,305 shares of the medical device company's stock worth $26,295,000 after purchasing an additional 14,687 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of Cooper Companies by 6.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 251,402 shares of the medical device company's stock valued at $27,740,000 after purchasing an additional 14,957 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Cooper Companies by 194.0% during the 3rd quarter. Franklin Resources Inc. now owns 48,892 shares of the medical device company's stock worth $5,265,000 after buying an additional 32,260 shares during the last quarter. Synovus Financial Corp boosted its stake in Cooper Companies by 18.8% in the third quarter. Synovus Financial Corp now owns 31,568 shares of the medical device company's stock valued at $3,483,000 after buying an additional 4,987 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in Cooper Companies by 7.8% during the third quarter. Tidal Investments LLC now owns 14,369 shares of the medical device company's stock worth $1,585,000 after acquiring an additional 1,043 shares in the last quarter. Institutional investors own 24.39% of the company's stock.

Cooper Companies Stock Performance

Shares of NASDAQ:COO traded down $0.27 during midday trading on Friday, reaching $92.34. 671,750 shares of the company traded hands, compared to its average volume of 1,173,000. The Cooper Companies, Inc. has a 12 month low of $84.76 and a 12 month high of $112.38. The firm's fifty day moving average price is $100.66 and its two-hundred day moving average price is $98.86. The company has a quick ratio of 1.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $18.43 billion, a price-to-earnings ratio of 47.35, a price-to-earnings-growth ratio of 2.52 and a beta of 0.97.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on COO shares. Morgan Stanley decreased their target price on shares of Cooper Companies from $104.00 to $102.00 and set an "equal weight" rating on the stock in a research note on Friday, December 6th. Wells Fargo & Company raised their price objective 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. Needham & Company LLC restated a "hold" rating on shares of Cooper Companies in a research report on Friday, December 6th. StockNews.com lowered shares of Cooper Companies from a "buy" rating to a "hold" rating in a report on Wednesday, December 11th. Finally, Citigroup lowered their target price on Cooper Companies from $116.00 to $115.00 and set a "buy" rating for the company in a research report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Cooper Companies currently has an average rating of "Moderate Buy" and a consensus price target of $117.00.

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.