Clearbridge Investments LLC Has $27.03 Million Position in The Cooper Companies, Inc. (NASDAQ:COO)

Clearbridge Investments LLC cut its position in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 13.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 293,997 shares of the medical device company’s stock after selling 44,912 shares during the quarter. Clearbridge Investments LLC’s holdings in Cooper Companies were worth $27,027,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Cooper Companies by 1.2% during the 3rd quarter. State Street Corp now owns 8,590,689 shares of the medical device company’s stock worth $947,897,000 after purchasing an additional 104,521 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Cooper Companies by 1.5% during the fourth quarter. JPMorgan Chase & Co. now owns 5,004,523 shares of the medical device company’s stock worth $460,066,000 after buying an additional 74,501 shares in the last quarter. Geode Capital Management LLC increased its holdings in Cooper Companies by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,796,556 shares of the medical device company’s stock valued at $527,476,000 after buying an additional 48,559 shares during the period. Victory Capital Management Inc. increased its holdings in Cooper Companies by 14.6% in the 4th quarter. Victory Capital Management Inc. now owns 4,525,018 shares of the medical device company’s stock valued at $415,985,000 after buying an additional 574,899 shares during the period. Finally, Norges Bank acquired a new position in shares of Cooper Companies in the 4th quarter valued at $217,906,000. 24.39% of the stock is currently owned by institutional investors.

Cooper Companies Stock Performance

Shares of NASDAQ:COO opened at $81.27 on Wednesday. The business has a fifty day moving average of $88.87 and a 200-day moving average of $96.83. 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 twelve month low of $77.05 and a twelve month high of $112.38. The firm has a market cap of $16.25 billion, a PE ratio of 41.68, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02.

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

Analyst Ratings Changes

A number of analysts recently weighed in on COO shares. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a research note on Friday, March 7th. Wells Fargo & Company increased their target price on Cooper Companies from $115.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. StockNews.com downgraded Cooper Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Citigroup lowered their price target on Cooper Companies from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Finally, Piper Sandler reissued an “overweight” rating and set a $115.00 price objective (down from $120.00) on shares of Cooper Companies in a report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.25.

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.