Wedbush Securities Inc. Boosts Stock Position in The Cooper Companies, Inc. (NASDAQ:COO)

Wedbush Securities Inc. increased its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 10.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,910 shares of the medical device company’s stock after purchasing an additional 1,120 shares during the quarter. Wedbush Securities Inc.’s holdings in Cooper Companies were worth $1,095,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Robert W. Baird cut their price objective on Cooper Companies from $117.00 to $107.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a report on Friday, March 7th. Citigroup dropped their price objective on shares of Cooper Companies from $115.00 to $110.00 and set a “buy” rating for the company in a report on Friday, March 7th. Piper Sandler reissued an “overweight” rating and issued a $115.00 target price (down previously from $120.00) on shares of Cooper Companies in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. dropped their price target on Cooper Companies from $120.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.25.

Cooper Companies Price Performance

COO opened at $73.77 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.12. The stock’s 50 day simple moving average is $87.76 and its 200 day simple moving average is $96.14. The firm has a market cap of $14.75 billion, a price-to-earnings ratio of 37.83, a PEG ratio of 2.25 and a beta of 1.01. The Cooper Companies, Inc. has a 1 year low of $73.34 and a 1 year high of $112.38.

Cooper Companies (NASDAQ:COO) last issued its earnings results 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 firm had revenue of $964.70 million for the quarter, compared to analysts’ expectations of $981.25 million. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. As a group, analysts predict 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.