Tranquility Partners LLC Cuts Stock Holdings in The Cooper Companies, Inc. (NASDAQ:COO)

Tranquility Partners LLC trimmed its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 11.2% during the 4th quarter, Holdings Channel reports. The firm owned 8,298 shares of the medical device company’s stock after selling 1,043 shares during the quarter. Tranquility Partners LLC’s holdings in Cooper Companies were worth $763,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of 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 valued at $435,856,000 after purchasing an additional 737,726 shares during the last quarter. Highland Capital Management LLC bought a new stake in Cooper Companies in the fourth quarter valued at approximately $4,004,000. Franklin Resources Inc. lifted its position in Cooper Companies by 194.0% in the third quarter. Franklin Resources Inc. now owns 48,892 shares of the medical device company’s stock valued at $5,265,000 after purchasing an additional 32,260 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Cooper Companies by 6.6% during the third quarter. Principal Financial Group Inc. now owns 238,305 shares of the medical device company’s stock valued at $26,295,000 after purchasing an additional 14,687 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Cooper Companies by 13.2% in the third 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 during the last quarter. 24.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on COO. Citigroup dropped their price target on shares of Cooper Companies from $116.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, December 6th. Wells Fargo & Company increased their target price on shares of 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 report on Wednesday, December 11th. Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a report on Friday, December 6th. Finally, Morgan Stanley decreased their price objective on shares of Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $117.00.

Cooper Companies Trading Down 1.6 %

NASDAQ COO opened at $92.00 on Thursday. The stock’s fifty day moving average price is $94.35 and its 200-day moving average price is $99.81. The company has a current ratio of 1.91, a quick ratio of 1.12 and a debt-to-equity ratio of 0.32. The stock has a market cap of $18.36 billion, a P/E ratio of 47.18, a P/E/G ratio of 2.41 and a beta of 1.00. The Cooper Companies, Inc. has a 12 month low of $84.76 and a 12 month high of $112.38.

Cooper Companies (NASDAQ:COO) last announced its quarterly earnings results on Thursday, December 5th. The medical device company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.87 earnings per share. As a group, equities analysts forecast that The Cooper Companies, Inc. will post 3.98 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.