2,370,352 Shares in The Cooper Companies, Inc. (NASDAQ:COO) Bought by Norges Bank

Norges Bank purchased a new stake in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,370,352 shares of the medical device company's stock, valued at approximately $217,906,000. Norges Bank owned approximately 1.19% of Cooper Companies as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in COO. Raymond James Financial Inc. bought a new stake in Cooper Companies in the fourth quarter valued at approximately $64,826,000. Victory Capital Management Inc. raised its stake in Cooper Companies by 14.6% in the 4th quarter. Victory Capital Management Inc. now owns 4,525,018 shares of the medical device company's stock valued at $415,985,000 after acquiring an additional 574,899 shares during the period. JPMorgan Chase & Co. lifted its holdings in Cooper Companies by 13.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,930,022 shares of the medical device company's stock valued at $543,979,000 after purchasing an additional 573,908 shares during the last quarter. Wealthfront Advisers LLC boosted its position 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 worth $52,383,000 after purchasing an additional 557,673 shares during the period. Finally, Alecta Tjanstepension Omsesidigt acquired a new position in shares of Cooper Companies in the fourth quarter valued at $49,550,000. Institutional investors and hedge funds own 24.39% of the company's stock.

Cooper Companies Price Performance

Shares of COO traded down $4.40 during trading hours on Friday, reaching $73.77. The stock had a trading volume of 2,661,526 shares, compared to its average volume of 1,365,871. The stock has a market capitalization of $14.75 billion, a PE ratio of 37.83, a PEG ratio of 2.25 and a beta of 1.01. The Cooper Companies, Inc. has a 12 month low of $73.32 and a 12 month 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. The company's 50-day moving average is $87.76 and its two-hundred day moving average is $96.33.

Cooper Companies (NASDAQ:COO - Get Free Report) last released its quarterly earnings results on Thursday, March 6th. The medical device company reported $0.92 earnings per share 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 company had revenue of $964.70 million for the quarter, compared to analysts' expectations of $981.25 million. Research analysts expect that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Cooper Companies from $115.00 to $118.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Needham & Company LLC restated a "hold" rating on shares of Cooper Companies in a report on Friday, March 7th. JPMorgan Chase & Co. dropped their price target on Cooper Companies from $120.00 to $110.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. Stifel Nicolaus reduced their price objective on shares of Cooper Companies from $115.00 to $105.00 and set a "buy" rating on the stock 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 research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $110.25.

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.