State of Alaska Department of Revenue Trims Stake in The Cooper Companies, Inc. (NASDAQ:COO)

State of Alaska Department of Revenue decreased its position in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 5.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 22,710 shares of the medical device company’s stock after selling 1,432 shares during the period. State of Alaska Department of Revenue’s holdings in Cooper Companies were worth $2,087,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in shares of Cooper Companies by 23.0% during the 3rd quarter. Victory Capital Management Inc. now owns 3,950,119 shares of the medical device company’s stock worth $435,856,000 after acquiring an additional 737,726 shares during the period. Highland Capital Management LLC bought a new stake in shares of Cooper Companies in the 4th quarter worth approximately $4,004,000. Franklin Resources Inc. boosted its position in shares of Cooper Companies by 194.0% in the 3rd quarter. Franklin Resources Inc. now owns 48,892 shares of the medical device company’s stock worth $5,265,000 after purchasing an additional 32,260 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Cooper Companies by 6.6% in the 3rd quarter. Principal Financial Group Inc. now owns 238,305 shares of the medical device company’s stock worth $26,295,000 after purchasing an additional 14,687 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Cooper Companies by 13.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,930,022 shares of the medical device company’s stock worth $543,979,000 after purchasing an additional 573,908 shares in the last quarter. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Wall Street Analyst Weigh In

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

Cooper Companies Price Performance

NASDAQ:COO opened at $93.63 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.32. The business’s 50-day simple moving average is $94.80 and its two-hundred day simple moving average is $99.86. The stock has a market cap of $18.69 billion, a PE ratio of 48.02, a P/E/G ratio of 2.41 and a beta of 1.00. The Cooper Companies, Inc. has a 52 week low of $84.76 and a 52 week high of $112.38.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings results on Thursday, December 5th. The medical device company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 9.38% and a net margin of 10.07%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $0.87 earnings per share. As a group, analysts forecast that The Cooper Companies, Inc. will post 3.98 EPS for the current fiscal 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.