Cadence Bank Acquires 5,334 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

Cadence Bank lifted its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 300.0% in the first quarter, Holdings Channel.com reports. The fund owned 7,112 shares of the medical device company’s stock after purchasing an additional 5,334 shares during the period. Cadence Bank’s holdings in Cooper Companies were worth $722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in Cooper Companies by 54.8% during 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. Lindbrook Capital LLC increased its position in shares of Cooper Companies by 182.5% during the fourth quarter. Lindbrook Capital LLC now owns 113 shares of the medical device company’s stock valued at $43,000 after buying an additional 73 shares during the period. Desjardins Global Asset Management Inc. lifted its holdings in shares of Cooper Companies by 44.8% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 152 shares of the medical device company’s stock worth $58,000 after buying an additional 47 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Cooper Companies by 30.4% in the fourth quarter. Venturi Wealth Management LLC now owns 180 shares of the medical device company’s stock valued at $68,000 after acquiring an additional 42 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in Cooper Companies by 123.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 223 shares of the medical device company’s stock valued at $84,000 after acquiring an additional 123 shares in the last quarter. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Cooper Companies Price Performance

Shares of Cooper Companies stock traded up $0.53 during trading on Friday, hitting $93.21. 1,063,395 shares of the stock traded hands, compared to its average volume of 1,130,185. The stock has a market cap of $18.56 billion, a price-to-earnings ratio of 54.75, a PEG ratio of 2.28 and a beta of 0.98. The company has a quick ratio of 1.14, a current ratio of 1.95 and a debt-to-equity ratio of 0.34. The Cooper Companies, Inc. has a 52 week low of $75.93 and a 52 week high of $104.07. The firm’s fifty day moving average is $91.31 and its 200-day moving average is $94.28.

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

Analyst Ratings Changes

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

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.