NewEdge Wealth LLC Cuts Position in The Cooper Companies, Inc. (NASDAQ:COO)

NewEdge Wealth LLC lessened its position in The Cooper Companies, Inc. (NASDAQ:COO) by 6.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 62,230 shares of the medical device company’s stock after selling 4,597 shares during the period. NewEdge Wealth LLC’s holdings in Cooper Companies were worth $5,721,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Edge Capital Group LLC bought a new position in shares of Cooper Companies in the fourth quarter worth approximately $1,180,000. Y Intercept Hong Kong Ltd bought a new position in shares of Cooper Companies in the fourth quarter worth approximately $1,985,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Cooper Companies by 44.3% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 38,120 shares of the medical device company’s stock worth $3,504,000 after buying an additional 11,700 shares in the last quarter. Navellier & Associates Inc. lifted its stake in shares of Cooper Companies by 30.5% in the fourth quarter. Navellier & Associates Inc. now owns 4,168 shares of the medical device company’s stock worth $383,000 after buying an additional 975 shares in the last quarter. Finally, ING Groep NV bought a new position in shares of Cooper Companies in the fourth quarter worth approximately $555,000. Institutional investors own 24.39% of the company’s stock.

Analyst Upgrades and Downgrades

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

Cooper Companies Trading Down 1.2 %

Shares of Cooper Companies stock opened at $89.87 on Friday. The company’s fifty day simple moving average is $92.71 and its 200-day simple moving average is $99.49. The stock has a market capitalization of $17.94 billion, a PE ratio of 46.09, a P/E/G ratio of 2.25 and a beta of 1.00. The Cooper Companies, Inc. has a 1-year low of $84.76 and a 1-year high of $112.38. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.12.

Cooper Companies (NASDAQ:COO) last issued its quarterly earnings results on Thursday, December 5th. The medical device company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 EPS. As a group, equities analysts anticipate 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.