Geode Capital Management LLC Boosts Position in The Cooper Companies, Inc. (NASDAQ:COO)

Geode Capital Management LLC lifted its position in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 2.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,906,463 shares of the medical device company’s stock after buying an additional 109,907 shares during the quarter. Geode Capital Management LLC owned approximately 2.46% of Cooper Companies worth $449,907,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Byrne Asset Management LLC purchased a new position in Cooper Companies during the fourth quarter worth $33,000. OFI Invest Asset Management purchased a new stake in Cooper Companies during the 4th quarter worth about $34,000. New Age Alpha Advisors LLC acquired a new position in Cooper Companies in the 4th quarter valued at about $38,000. West Financial Advisors LLC purchased a new position in Cooper Companies in the 4th quarter valued at about $49,000. Finally, Atala Financial Inc purchased a new stake in shares of Cooper Companies during the fourth quarter worth about $51,000. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Cooper Companies Stock Down 5.6 %

COO opened at $73.77 on Friday. The Cooper Companies, Inc. has a 1 year low of $73.34 and a 1 year high of $112.38. The firm has a 50 day moving average price of $87.76 and a 200 day moving average price of $96.33. 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 company has a market cap of $14.75 billion, a PE ratio of 37.83, a price-to-earnings-growth ratio of 2.25 and a beta of 1.01.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on COO. BNP Paribas raised shares of Cooper Companies to a “hold” rating in a research note on Thursday, March 13th. Piper Sandler reissued an “overweight” rating and set a $115.00 price target (down previously from $120.00) on shares of Cooper Companies in a research note on Friday, March 7th. Wells Fargo & Company lifted their price objective on Cooper Companies from $115.00 to $118.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Robert W. Baird reduced 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. Finally, StockNews.com cut Cooper Companies from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Cooper Companies has a consensus rating of “Moderate Buy” and an average target price of $110.25.

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.