Denali Advisors LLC Grows Stock Position in The Cooper Companies, Inc. (NASDAQ:COO)

Denali Advisors LLC grew its stake in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 430.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,308 shares of the medical device company’s stock after acquiring an additional 4,308 shares during the quarter. Denali Advisors LLC’s holdings in Cooper Companies were worth $539,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of COO. Congress Asset Management Co. MA boosted its position in shares of Cooper Companies by 252.4% in the first 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 during the period. Norges Bank acquired a new stake in Cooper Companies in the fourth quarter valued at approximately $196,045,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Cooper Companies by 299.2% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 470,437 shares of the medical device company’s stock valued at $47,731,000 after purchasing an additional 352,581 shares during the period. Victory Capital Management Inc. lifted its position in shares of Cooper Companies by 16.5% during the fourth quarter. Victory Capital Management Inc. now owns 995,245 shares of the medical device company’s stock worth $376,641,000 after purchasing an additional 140,700 shares in the last quarter. Finally, Congress Wealth Management LLC DE boosted its stake in shares of Cooper Companies by 312.5% in the first 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 period. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Cooper Companies Stock Down 1.2 %

Cooper Companies stock opened at $85.51 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.95. The Cooper Companies, Inc. has a one year low of $75.93 and a one year high of $104.07. The company has a 50-day simple moving average of $92.46 and a 200-day simple moving average of $94.71. The firm has a market capitalization of $17.03 billion, a P/E ratio of 50.23, a P/E/G ratio of 2.14 and a beta of 0.98.

Cooper Companies (NASDAQ:COO) last posted its earnings results 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 firm had revenue of $942.60 million during the quarter, compared to analysts’ expectations 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 prior year, the firm earned $0.77 EPS. As a group, equities analysts expect that The Cooper Companies, Inc. will post 3.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

COO has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a research note on Friday, May 31st. Piper Sandler reissued an “overweight” rating and issued a $115.00 price target on shares of Cooper Companies in a report on Wednesday. Robert W. Baird lifted their price objective on Cooper Companies from $116.00 to $118.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. JPMorgan Chase & Co. raised shares of Cooper Companies from a “neutral” rating to an “overweight” rating and upped their price target for the company from $100.00 to $120.00 in a report on Wednesday, March 13th. Finally, Citigroup boosted their target price on shares of Cooper Companies from $108.00 to $116.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.42.

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.