WD Rutherford LLC Raises Stock Position in The Cooper Companies, Inc. (NASDAQ:COO)

WD Rutherford LLC increased its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 324.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,756 shares of the medical device company’s stock after purchasing an additional 29,630 shares during the quarter. Cooper Companies accounts for 2.0% of WD Rutherford LLC’s portfolio, making the stock its 18th largest position. WD Rutherford LLC’s holdings in Cooper Companies were worth $3,932,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Congress Asset Management Co. MA raised its position in Cooper Companies by 252.4% in the first quarter. Congress Asset Management Co. MA now owns 1,263,754 shares of the medical device company’s stock worth $128,220,000 after acquiring an additional 905,173 shares during the period. Norges Bank bought a new position in Cooper Companies in the fourth quarter worth approximately $196,045,000. Victory Capital Management Inc. raised its position in Cooper Companies by 16.5% in the fourth quarter. Victory Capital Management Inc. now owns 995,245 shares of the medical device company’s stock worth $376,641,000 after acquiring an additional 140,700 shares during the period. International Assets Investment Management LLC bought a new position in Cooper Companies in the fourth quarter worth approximately $44,397,000. Finally, Ameriprise Financial Inc. raised its position in Cooper Companies by 47.0% in the third quarter. Ameriprise Financial Inc. now owns 354,909 shares of the medical device company’s stock worth $112,865,000 after acquiring an additional 113,395 shares during the period. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on COO shares. JPMorgan Chase & Co. upgraded shares of Cooper Companies from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $100.00 to $120.00 in a research report on Wednesday, March 13th. Stifel Nicolaus reiterated a “buy” rating and issued a $110.00 price target (up from $105.00) on shares of Cooper Companies in a research report on Friday, March 1st. Citigroup increased their price target on shares of Cooper Companies from $108.00 to $116.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Needham & Company LLC restated a “hold” rating on shares of Cooper Companies in a research report on Friday, May 31st. Finally, Redburn Atlantic upgraded shares of Cooper Companies from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research report on Tuesday, March 19th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $111.42.

Cooper Companies Price Performance

COO traded down $0.32 during trading on Friday, hitting $87.30. 1,966,387 shares of the company traded hands, compared to its average volume of 1,275,055. The company has a market cap of $17.38 billion, a PE ratio of 51.28, a P/E/G ratio of 2.17 and a beta of 1.02. The stock’s 50-day simple moving average is $92.73 and its two-hundred day simple moving average is $94.73. The Cooper Companies, Inc. has a 1 year low of $75.93 and a 1 year high of $104.07. The company has a current ratio of 1.95, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34.

Cooper Companies (NASDAQ:COO) last posted its earnings results on Thursday, May 30th. The medical device company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.02. The company had revenue of $942.60 million during the quarter, compared to analysts’ expectations of $948.07 million. Cooper Companies had a net margin of 9.11% and a return on equity of 8.87%. Cooper Companies’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the company posted $0.77 earnings per share. As a group, sell-side analysts anticipate that The Cooper Companies, Inc. will post 3.57 earnings per share 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.