Rhenman & Partners Asset Management AB Reduces Stake in The Cooper Companies, Inc. (NASDAQ:COO)

Rhenman & Partners Asset Management AB reduced its holdings in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 49.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 115,000 shares of the medical device company's stock after selling 113,000 shares during the quarter. Rhenman & Partners Asset Management AB owned about 0.06% of Cooper Companies worth $10,572,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of research firms recently weighed in on COO. Needham & Company LLC restated a "hold" rating on shares of Cooper Companies in a report on Friday, March 7th. Robert W. Baird cut their target price on Cooper Companies from $117.00 to $107.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th. JPMorgan Chase & Co. decreased their price target on Cooper Companies from $120.00 to $110.00 and set an "overweight" rating for the company in a report on Friday, March 7th. BNP Paribas upgraded Cooper Companies to a "hold" rating in a research note on Thursday, March 13th. Finally, StockNews.com lowered shares of Cooper Companies from a "buy" rating to a "hold" rating in a research note on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $110.25.

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Cooper Companies Stock Performance

COO traded down $3.84 during midday trading on Thursday, reaching $74.07. The company had a trading volume of 959,423 shares, compared to its average volume of 1,380,029. The business has a 50-day moving average price of $85.39 and a two-hundred day moving average price of $95.08. 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 12-month low of $69.81 and a 12-month high of $112.38. The stock has a market cap of $14.81 billion, a PE ratio of 38.02, a P/E/G ratio of 2.25 and a beta of 1.01.

Cooper Companies (NASDAQ:COO - Get Free Report) last released its earnings results on Thursday, March 6th. The medical device company reported $0.92 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.92. The business had revenue of $964.70 million during the quarter, compared to the consensus estimate of $981.25 million. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. On average, sell-side analysts expect that The Cooper Companies, Inc. will post 3.98 earnings per share for the current fiscal year.

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.