Clearbridge Investments LLC Purchases 267,238 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

Clearbridge Investments LLC lifted its holdings in The Cooper Companies, Inc. (NASDAQ:COO) by 285.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 360,813 shares of the medical device company’s stock after purchasing an additional 267,238 shares during the quarter. Clearbridge Investments LLC owned 0.18% of Cooper Companies worth $36,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of COO. Lipe & Dalton boosted its holdings in Cooper Companies by 0.9% in the fourth quarter. Lipe & Dalton now owns 3,360 shares of the medical device company’s stock worth $1,272,000 after purchasing an additional 30 shares during the last quarter. WD Rutherford LLC grew its position in shares of Cooper Companies by 0.4% during the 4th quarter. WD Rutherford LLC now owns 9,126 shares of the medical device company’s stock valued at $3,541,000 after acquiring an additional 33 shares during the period. Blue Trust Inc. increased its stake in shares of Cooper Companies by 54.8% in the 4th quarter. Blue Trust Inc. now owns 96 shares of the medical device company’s stock worth $36,000 after purchasing an additional 34 shares in the last quarter. Franklin Resources Inc. raised its holdings in Cooper Companies by 1.2% in the 4th quarter. Franklin Resources Inc. now owns 3,401 shares of the medical device company’s stock worth $1,287,000 after purchasing an additional 41 shares during the period. Finally, Venturi Wealth Management LLC lifted its position in Cooper Companies by 30.4% during the fourth quarter. Venturi Wealth Management LLC now owns 180 shares of the medical device company’s stock valued at $68,000 after purchasing an additional 42 shares in the last quarter. 24.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group raised shares of Cooper Companies from a “hold” rating to a “buy” rating and increased their target price for the stock from $107.00 to $115.00 in a report on Tuesday, July 16th. Citigroup raised their price objective on shares of Cooper Companies from $108.00 to $116.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Robert W. Baird upped their target price on shares of Cooper Companies from $116.00 to $118.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a report on Friday, May 31st. Finally, Piper Sandler reissued an “overweight” rating and set a $115.00 target price on shares of Cooper Companies in a research note on Wednesday, July 3rd. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $111.78.

Cooper Companies Price Performance

COO stock traded down $0.80 during trading on Tuesday, hitting $90.67. 1,629,955 shares of the company’s stock traded hands, compared to its average volume of 1,130,362. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.95. The Cooper Companies, Inc. has a 52 week low of $75.93 and a 52 week high of $104.07. The business has a fifty day simple moving average of $91.61 and a 200 day simple moving average of $94.31. The stock has a market capitalization of $18.05 billion, a price-to-earnings ratio of 53.26, a P/E/G ratio of 2.25 and a beta of 0.98.

Cooper Companies (NASDAQ:COO) last announced its earnings results on Thursday, May 30th. The medical device company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Cooper Companies had a return on equity of 8.87% and a net margin of 9.11%. The firm had revenue of $942.60 million during the quarter, compared to analysts’ expectations of $948.07 million. During the same quarter in the previous year, the business earned $0.77 EPS. The company’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, research analysts expect that The Cooper Companies, Inc. will post 3.57 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.