Bayesian Capital Management LP Buys Shares of 16,300 The Cooper Companies, Inc. (NASDAQ:COO)

Bayesian Capital Management LP purchased a new position in shares of The Cooper Companies, Inc. (NASDAQ:COO) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 16,300 shares of the medical device company’s stock, valued at approximately $1,654,000.

Other institutional investors have also modified their holdings of the company. Mount Yale Investment Advisors LLC increased its holdings in Cooper Companies by 280.8% in the first quarter. Mount Yale Investment Advisors LLC now owns 7,718 shares of the medical device company’s stock valued at $783,000 after buying an additional 5,691 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Cooper Companies by 265.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 74,401 shares of the medical device company’s stock worth $7,549,000 after acquiring an additional 54,047 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its stake in Cooper Companies by 298.9% during the first quarter. Public Employees Retirement Association of Colorado now owns 245,793 shares of the medical device company’s stock worth $24,938,000 after purchasing an additional 184,171 shares during the last quarter. Bellevue Group AG boosted its holdings in Cooper Companies by 361.9% in the first quarter. Bellevue Group AG now owns 397,373 shares of the medical device company’s stock valued at $40,317,000 after purchasing an additional 311,336 shares in the last quarter. Finally, Bamco Inc. NY increased its stake in Cooper Companies by 275.7% in the first quarter. Bamco Inc. NY now owns 943,282 shares of the medical device company’s stock valued at $95,705,000 after purchasing an additional 692,184 shares during the last quarter. 24.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Cooper Companies Price Performance

Shares of COO stock traded up $0.35 during trading hours on Tuesday, hitting $92.96. The company’s stock had a trading volume of 401,183 shares, compared to its average volume of 1,121,962. The company has a current ratio of 1.95, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The business has a fifty day moving average of $91.22 and a 200-day moving average of $94.26. The Cooper Companies, Inc. has a twelve month low of $75.93 and a twelve month high of $104.07. The stock has a market cap of $18.51 billion, a price-to-earnings ratio of 54.40, a P/E/G ratio of 2.31 and a beta of 0.98.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings results on Thursday, May 30th. The medical device company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 8.87% and a net margin of 9.11%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 earnings per share. As a group, equities research analysts anticipate that The Cooper Companies, Inc. will post 3.57 EPS for the current year.

About Cooper Companies

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.