Bank of New York Mellon Corp Sells 150,383 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

Bank of New York Mellon Corp reduced its position in The Cooper Companies, Inc. (NASDAQ:COO) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,302,836 shares of the medical device company’s stock after selling 150,383 shares during the quarter. Bank of New York Mellon Corp owned 0.65% of Cooper Companies worth $119,770,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in COO. Victory Capital Management Inc. raised its holdings in shares of Cooper Companies by 23.0% in the third quarter. Victory Capital Management Inc. now owns 3,950,119 shares of the medical device company’s stock valued at $435,856,000 after acquiring an additional 737,726 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in 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 in the last quarter. Swedbank AB raised its holdings in Cooper Companies by 14.0% in the fourth quarter. Swedbank AB now owns 1,629,602 shares of the medical device company’s stock worth $149,809,000 after purchasing an additional 200,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Cooper Companies by 11.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,818,610 shares of the medical device company’s stock worth $200,665,000 after purchasing an additional 194,118 shares in the last quarter. Finally, Soros Fund Management LLC bought a new position in Cooper Companies in the third quarter worth about $19,310,000. 24.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Citigroup reduced their target price on shares of Cooper Companies from $116.00 to $115.00 and set a “buy” rating for the company in a report on Friday, December 6th. Morgan Stanley reduced their target price 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. StockNews.com downgraded shares of 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, Wells Fargo & Company boosted 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. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $117.22.

Cooper Companies Price Performance

Shares of COO stock opened at $90.38 on Friday. The Cooper Companies, Inc. has a fifty-two week low of $84.76 and a fifty-two week high of $112.38. The firm has a market capitalization of $18.04 billion, a price-to-earnings ratio of 46.35, a PEG ratio of 2.25 and a beta of 1.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.12 and a current ratio of 1.91. The stock’s 50-day simple moving average is $92.64 and its 200-day simple moving average is $99.53.

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