Massachusetts Financial Services Co. MA Lowers Stake in The Cooper Companies, Inc. (NASDAQ:COO)

Massachusetts Financial Services Co. MA cut its holdings in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 15.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,390,260 shares of the medical device company’s stock after selling 255,300 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Cooper Companies were worth $127,807,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Byrne Asset Management LLC acquired a new stake in Cooper Companies in the fourth quarter valued at approximately $33,000. OFI Invest Asset Management acquired a new stake in Cooper Companies in the 4th quarter valued at $34,000. New Age Alpha Advisors LLC purchased a new stake in Cooper Companies in the 4th quarter worth $38,000. West Financial Advisors LLC acquired a new position in Cooper Companies during the fourth quarter worth $49,000. Finally, Atala Financial Inc purchased a new position in Cooper Companies during the fourth quarter valued at $51,000. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Wall Street Analysts Forecast Growth

COO has been the subject of a number of research reports. BNP Paribas raised shares of Cooper Companies to a “hold” rating in a research note on Thursday, March 13th. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a report on Friday, March 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $115.00 price target (down from $120.00) on shares of Cooper Companies in a research note on Friday, March 7th. 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. Finally, Citigroup decreased their price objective on Cooper Companies from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.25.

Cooper Companies Stock Down 5.6 %

Shares of COO opened at $73.77 on Friday. The Cooper Companies, Inc. has a 52-week low of $73.34 and a 52-week high of $112.38. 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 stock has a fifty day simple moving average of $87.76 and a two-hundred day simple moving average of $96.33. The company has a market capitalization of $14.75 billion, a PE ratio of 37.83, a price-to-earnings-growth ratio of 2.25 and a beta of 1.01.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings data on Thursday, March 6th. The medical device company reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. The firm had revenue of $964.70 million during the quarter, compared to analysts’ expectations of $981.25 million. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. As a group, equities analysts forecast that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

Cooper Companies Company 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.