Alecta Tjanstepension Omsesidigt Invests $49.55 Million in The Cooper Companies, Inc. (NASDAQ:COO)

Alecta Tjanstepension Omsesidigt purchased a new stake in The Cooper Companies, Inc. (NASDAQ:COO) in the fourth quarter, HoldingsChannel reports. The firm purchased 539,000 shares of the medical device company’s stock, valued at approximately $49,550,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in Cooper Companies by 23.0% in the third quarter. Victory Capital Management Inc. now owns 3,950,119 shares of the medical device company’s stock valued at $435,856,000 after buying an additional 737,726 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Cooper Companies in the 4th quarter valued at approximately $691,000. Highland Capital Management LLC acquired a new stake in shares of Cooper Companies in the fourth quarter valued at approximately $4,004,000. Franklin Resources Inc. grew its position in Cooper Companies by 194.0% in the third quarter. Franklin Resources Inc. now owns 48,892 shares of the medical device company’s stock valued at $5,265,000 after purchasing an additional 32,260 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Cooper Companies by 6.6% during the 3rd quarter. Principal Financial Group Inc. now owns 238,305 shares of the medical device company’s stock worth $26,295,000 after buying an additional 14,687 shares in the last quarter. Institutional investors and hedge funds own 24.39% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on COO. StockNews.com lowered Cooper Companies from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Morgan Stanley reduced their target price on Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a report on Friday, December 6th. Wells Fargo & Company upped their price objective on Cooper Companies from $115.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Citigroup dropped their target price on Cooper Companies from $116.00 to $115.00 and set a “buy” rating for the company in a report on Friday, December 6th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cooper Companies currently has an average rating of “Moderate Buy” and an average price target of $117.00.

Cooper Companies Stock Up 0.8 %

Shares of NASDAQ:COO opened at $90.97 on Thursday. 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 $84.76 and a 52-week high of $112.38. The company has a market capitalization of $18.16 billion, a PE ratio of 46.65, a price-to-earnings-growth ratio of 2.25 and a beta of 1.00. The company has a fifty day moving average of $92.75 and a 200-day moving average of $99.55.

Cooper Companies (NASDAQ:COO) last announced its earnings results on Thursday, December 5th. The medical device company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.87 EPS. On average, equities analysts predict 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.