Jennison Associates LLC Boosts Holdings in The Cooper Companies, Inc. (NASDAQ:COO)

Jennison Associates LLC grew its holdings in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 9.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 885,598 shares of the medical device company’s stock after buying an additional 75,015 shares during the quarter. Jennison Associates LLC owned 0.44% of Cooper Companies worth $81,413,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of COO. State Street Corp lifted its holdings in shares of Cooper Companies by 1.2% in the 3rd quarter. State Street Corp now owns 8,590,689 shares of the medical device company’s stock worth $947,897,000 after buying an additional 104,521 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Cooper Companies by 13.2% in the third quarter. JPMorgan Chase & Co. now owns 4,930,022 shares of the medical device company’s stock valued at $543,979,000 after acquiring an additional 573,908 shares in the last quarter. Geode Capital Management LLC lifted its stake in Cooper Companies by 1.0% in the third quarter. Geode Capital Management LLC now owns 4,796,556 shares of the medical device company’s stock worth $527,476,000 after acquiring an additional 48,559 shares during the period. Victory Capital Management Inc. grew its holdings in Cooper Companies by 23.0% during the 3rd quarter. Victory Capital Management Inc. now owns 3,950,119 shares of the medical device company’s stock worth $435,856,000 after acquiring an additional 737,726 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Cooper Companies by 11.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,818,610 shares of the medical device company’s stock valued at $200,665,000 after purchasing an additional 194,118 shares during the period. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of Cooper Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Morgan Stanley dropped their target price on Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Friday, December 6th. Wells Fargo & Company boosted their price target on Cooper Companies from $115.00 to $118.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a research report on Friday, December 6th. Finally, Citigroup reduced their target price on shares of Cooper Companies from $116.00 to $115.00 and set a “buy” rating for the company in a report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $117.00.

Cooper Companies Stock Performance

Shares of Cooper Companies stock opened at $95.34 on Tuesday. The firm has a market capitalization of $19.03 billion, a P/E ratio of 48.89, a PEG ratio of 2.45 and a beta of 0.99. The Cooper Companies, Inc. has a 52 week low of $84.76 and a 52 week high of $112.38. 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 company has a 50 day moving average price of $95.65 and a 200 day moving average price of $99.74.

Cooper Companies (NASDAQ:COO) last announced its quarterly earnings data on Thursday, December 5th. The medical device company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. The company’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.87 earnings per share. Sell-side analysts expect that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

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.