KLP Kapitalforvaltning AS Takes $6.09 Million Position in The Cooper Companies, Inc. (NASDAQ:COO)

KLP Kapitalforvaltning AS bought a new stake in shares of The Cooper Companies, Inc. (NASDAQ:COO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 66,200 shares of the medical device company’s stock, valued at approximately $6,086,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of COO. Byrne Asset Management LLC bought a new position in Cooper Companies during the fourth quarter valued at $33,000. OFI Invest Asset Management bought a new position in Cooper Companies during the 4th quarter valued at about $34,000. Brown Brothers Harriman & Co. raised its position in Cooper Companies by 191.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 419 shares of the medical device company’s stock worth $46,000 after purchasing an additional 275 shares during the period. West Financial Advisors LLC bought a new stake in Cooper Companies in the fourth quarter worth about $49,000. Finally, Atala Financial Inc purchased a new position in shares of Cooper Companies during the fourth quarter valued at approximately $51,000. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on COO. JPMorgan Chase & Co. reduced their price target on Cooper Companies from $120.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Wells Fargo & Company lifted their target price on Cooper Companies from $115.00 to $118.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. BNP Paribas upgraded shares of Cooper Companies to a “hold” rating in a report on Thursday, March 13th. Piper Sandler reiterated an “overweight” rating and set a $115.00 price objective (down previously from $120.00) on shares of Cooper Companies in a report on Friday, March 7th. Finally, Robert W. Baird dropped their target price on shares of Cooper Companies from $117.00 to $107.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.25.

Cooper Companies Price Performance

NASDAQ COO opened at $83.70 on Wednesday. The company has a market cap of $16.74 billion, a PE ratio of 42.92, a P/E/G ratio of 2.25 and a beta of 1.02. The firm’s 50 day moving average price is $89.80 and its 200-day moving average price is $97.72. 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 Cooper Companies, Inc. has a 52-week low of $77.05 and a 52-week high of $112.38.

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

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.