Congress Asset Management Co. Cuts Stake in The Cooper Companies, Inc. (NASDAQ:COO)

Congress Asset Management Co. reduced its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 7.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,157,876 shares of the medical device company’s stock after selling 89,308 shares during the quarter. Congress Asset Management Co.’s holdings in Cooper Companies were worth $106,444,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. CWM LLC lifted its holdings in Cooper Companies by 35.8% during the third quarter. CWM LLC now owns 5,193 shares of the medical device company’s stock valued at $573,000 after purchasing an additional 1,370 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in Cooper Companies during the third quarter valued at about $121,000. Vontobel Holding Ltd. lifted its holdings in Cooper Companies by 7.8% during the third quarter. Vontobel Holding Ltd. now owns 5,208 shares of the medical device company’s stock valued at $575,000 after purchasing an additional 377 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in Cooper Companies by 2.1% during the third quarter. Bleakley Financial Group LLC now owns 5,767 shares of the medical device company’s stock valued at $636,000 after purchasing an additional 119 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Cooper Companies by 2.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,354 shares of the medical device company’s stock valued at $3,570,000 after purchasing an additional 715 shares during the last quarter. 24.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on COO. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a report on Friday, December 6th. Wells Fargo & Company upped their price objective on shares of Cooper Companies from $115.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Morgan Stanley dropped their price objective on shares of Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Friday, December 6th. StockNews.com cut Cooper Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, Citigroup decreased their price target on Cooper Companies from $116.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $117.00.

Cooper Companies Stock Down 6.0 %

COO stock opened at $88.10 on Friday. 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 company’s 50 day moving average is $93.94 and its 200 day moving average is $99.78. The stock has a market cap of $17.58 billion, a price-to-earnings ratio of 45.18, a price-to-earnings-growth ratio of 2.41 and a beta of 1.00. The Cooper Companies, Inc. has a 1-year low of $84.76 and a 1-year high of $112.38.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings data on Thursday, December 5th. The medical device company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. Cooper Companies’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.87 earnings per share. Sell-side analysts predict that The Cooper Companies, Inc. will post 3.98 EPS for the current fiscal 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.