State of Michigan Retirement System Grows Position in The Cooper Companies, Inc. (NASDAQ:COO)

State of Michigan Retirement System lifted its position in The Cooper Companies, Inc. (NASDAQ:COO) by 302.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,444 shares of the medical device company’s stock after acquiring an additional 40,908 shares during the quarter. State of Michigan Retirement System’s holdings in Cooper Companies were worth $5,524,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in COO. Congress Asset Management Co. MA lifted its position in shares of Cooper Companies by 252.4% during the 1st quarter. Congress Asset Management Co. MA now owns 1,263,754 shares of the medical device company’s stock worth $128,220,000 after buying an additional 905,173 shares in the last quarter. Norges Bank purchased a new position in Cooper Companies in the fourth quarter worth $196,045,000. Victory Capital Management Inc. grew its stake in Cooper Companies by 16.5% in the 4th quarter. Victory Capital Management Inc. now owns 995,245 shares of the medical device company’s stock valued at $376,641,000 after purchasing an additional 140,700 shares during the period. Congress Wealth Management LLC DE increased its position in shares of Cooper Companies by 312.5% during the 1st quarter. Congress Wealth Management LLC DE now owns 156,965 shares of the medical device company’s stock valued at $15,926,000 after purchasing an additional 118,916 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Cooper Companies during the 4th quarter worth $44,397,000. 24.39% of the stock is owned by institutional investors.

Cooper Companies Price Performance

Shares of COO stock opened at $86.51 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.95 and a debt-to-equity ratio of 0.34. The stock has a market cap of $17.23 billion, a price-to-earnings ratio of 50.81, a PEG ratio of 2.16 and a beta of 0.98. The business’s fifty day moving average is $92.55 and its 200 day moving average is $94.77. The Cooper Companies, Inc. has a twelve month low of $75.93 and a twelve month high of $104.07.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings data on Thursday, May 30th. The medical device company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. The business had revenue of $942.60 million for the quarter, compared to analyst estimates of $948.07 million. Cooper Companies had a net margin of 9.11% and a return on equity of 8.87%. Cooper Companies’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 earnings per share. Research analysts expect that The Cooper Companies, Inc. will post 3.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on COO shares. JPMorgan Chase & Co. upgraded shares of Cooper Companies from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $100.00 to $120.00 in a report on Wednesday, March 13th. Redburn Atlantic upgraded Cooper Companies from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Tuesday, March 19th. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a research report on Friday, May 31st. Robert W. Baird increased their price target on Cooper Companies from $116.00 to $118.00 and gave the stock an “outperform” rating in a research note on Friday, May 31st. Finally, Citigroup boosted their price objective on Cooper Companies from $108.00 to $116.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Cooper Companies presently has an average rating of “Moderate Buy” and a consensus price target of $111.42.

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.