DNB Asset Management AS Grows Position in The Cooper Companies, Inc. (NASDAQ:COO)

DNB Asset Management AS increased its position in The Cooper Companies, Inc. (NASDAQ:COO) by 1.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 30,704 shares of the medical device company’s stock after purchasing an additional 353 shares during the period. DNB Asset Management AS’s holdings in Cooper Companies were worth $2,680,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Cooper Companies by 303.0% in the 1st quarter. Vanguard Group Inc. now owns 23,099,975 shares of the medical device company’s stock worth $2,343,723,000 after buying an additional 17,367,502 shares during the last quarter. Capital World Investors lifted its stake in Cooper Companies by 301.7% in the first quarter. Capital World Investors now owns 5,654,023 shares of the medical device company’s stock worth $573,657,000 after acquiring an additional 4,246,519 shares during the period. Janus Henderson Group PLC boosted its holdings in Cooper Companies by 279.8% in the first quarter. Janus Henderson Group PLC now owns 3,437,064 shares of the medical device company’s stock valued at $348,723,000 after acquiring an additional 2,532,186 shares in the last quarter. Bessemer Group Inc. increased its position in Cooper Companies by 305.2% during the 1st quarter. Bessemer Group Inc. now owns 2,000,910 shares of the medical device company’s stock valued at $203,013,000 after purchasing an additional 1,507,049 shares during the period. Finally, Champlain Investment Partners LLC raised its holdings in Cooper Companies by 295.3% in the 1st quarter. Champlain Investment Partners LLC now owns 1,741,120 shares of the medical device company’s stock worth $176,654,000 after purchasing an additional 1,300,620 shares in the last quarter. 24.39% of the stock is owned by hedge funds and other institutional investors.

Cooper Companies Stock Up 1.2 %

Cooper Companies stock traded up $1.08 during mid-day trading on Tuesday, hitting $92.49. The company had a trading volume of 676,135 shares, compared to its average volume of 1,117,583. The Cooper Companies, Inc. has a 12 month low of $75.93 and a 12 month high of $104.07. The company has a market capitalization of $18.42 billion, a PE ratio of 54.79, a price-to-earnings-growth ratio of 2.34 and a beta of 0.98. The stock’s 50 day moving average price is $90.96 and its two-hundred day moving average price is $94.16. The company has a current ratio of 1.95, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34.

Cooper Companies (NASDAQ:COO) last announced its quarterly earnings results on Thursday, May 30th. The medical device company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Cooper Companies had a net margin of 9.11% and a return on equity of 8.87%. The company had revenue of $942.60 million for the quarter, compared to analysts’ expectations of $948.07 million. During the same quarter in the previous year, the business posted $0.77 EPS. Cooper Companies’s revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Cooper Companies, Inc. will post 3.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

COO has been the topic of a number of research reports. Jefferies Financial Group raised shares of Cooper Companies from a “hold” rating to a “buy” rating and lifted their target price for the company from $107.00 to $115.00 in a research note on Tuesday, July 16th. Piper Sandler reaffirmed an “overweight” rating and set a $115.00 price objective on shares of Cooper Companies in a research report on Wednesday, July 3rd. Robert W. Baird upped their target price on Cooper Companies from $116.00 to $118.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Finally, Needham & Company LLC restated a “hold” rating on shares of Cooper Companies in a research note on Friday, May 31st. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $111.78.

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.