DnB Asset Management AS Increases Stake in The Cooper Companies, Inc. (NASDAQ:COO)

DnB Asset Management AS grew its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,332 shares of the medical device company’s stock after purchasing an additional 279 shares during the period. DnB Asset Management AS’s holdings in Cooper Companies were worth $3,156,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pictet Asset Management Holding SA grew its position in shares of Cooper Companies by 7.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 145,085 shares of the medical device company’s stock valued at $13,338,000 after acquiring an additional 9,650 shares during the period. New Age Alpha Advisors LLC acquired a new stake in Cooper Companies in the fourth quarter valued at approximately $38,000. Norges Bank purchased a new stake in shares of Cooper Companies in the fourth quarter valued at approximately $217,906,000. NEOS Investment Management LLC raised its stake in shares of Cooper Companies by 24.7% during the 4th quarter. NEOS Investment Management LLC now owns 6,252 shares of the medical device company’s stock worth $575,000 after buying an additional 1,237 shares during the period. Finally, UniSuper Management Pty Ltd lifted its position in shares of Cooper Companies by 30.5% during the 4th quarter. UniSuper Management Pty Ltd now owns 24,294 shares of the medical device company’s stock valued at $2,233,000 after buying an additional 5,672 shares in the last quarter. Institutional investors and hedge funds own 24.39% of the company’s stock.

Cooper Companies Stock Performance

Shares of Cooper Companies stock opened at $84.35 on Tuesday. 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 business’s 50 day moving average price is $89.15 and its 200 day moving average price is $97.03. The company has a market cap of $16.87 billion, a price-to-earnings ratio of 43.26, a PEG ratio of 2.25 and a beta of 1.02. The Cooper Companies, Inc. has a one year low of $77.05 and a one year high of $112.38.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings results on Thursday, March 6th. The medical device company reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. The business had revenue of $964.70 million for the quarter, compared to analyst estimates of $981.25 million. On average, research analysts predict that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

Wall Street Analysts Forecast Growth

COO has been the subject of several recent analyst reports. StockNews.com lowered shares of Cooper Companies from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. reduced their price target on shares of Cooper Companies from $120.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Piper Sandler reiterated an “overweight” rating and issued a $115.00 price objective (down from $120.00) on shares of Cooper Companies in a report on Friday, March 7th. Citigroup reduced their target price on Cooper Companies from $115.00 to $110.00 and set a “buy” rating for the company in a report on Friday, March 7th. Finally, Robert W. Baird lowered their price target on 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 research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.