Hartford Investment Management Co. Reduces Position in The Cooper Companies, Inc. (NASDAQ:COO)

Hartford Investment Management Co. reduced its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,299 shares of the medical device company’s stock after selling 329 shares during the quarter. Hartford Investment Management Co.’s holdings in Cooper Companies were worth $1,131,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in COO. Fulton Bank N.A. raised its stake in Cooper Companies by 3.0% in the 4th quarter. Fulton Bank N.A. now owns 3,718 shares of the medical device company’s stock valued at $342,000 after purchasing an additional 109 shares during the last quarter. Bleakley Financial Group LLC raised its position in shares of Cooper Companies by 2.1% in the third quarter. Bleakley Financial Group LLC now owns 5,767 shares of the medical device company’s stock valued at $636,000 after buying an additional 119 shares during the last quarter. Mather Group LLC. lifted its stake in shares of Cooper Companies by 7.4% during the fourth quarter. Mather Group LLC. now owns 1,926 shares of the medical device company’s stock valued at $177,000 after buying an additional 133 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Cooper Companies by 15.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the medical device company’s stock worth $93,000 after acquiring an additional 136 shares during the last quarter. Finally, Greenleaf Trust grew its stake in Cooper Companies by 5.0% in the 4th quarter. Greenleaf Trust now owns 2,915 shares of the medical device company’s stock worth $268,000 after acquiring an additional 139 shares during the period. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Cooper Companies Price Performance

COO opened at $88.10 on Friday. The Cooper Companies, Inc. has a 52-week low of $84.76 and a 52-week high of $112.38. The company has a 50 day moving average of $93.94 and a two-hundred day moving average of $99.73. The company has a market cap of $17.58 billion, a P/E ratio of 45.18, a P/E/G ratio of 2.41 and a beta of 1.00. The company has a quick ratio of 1.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.32.

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