Retirement Systems of Alabama Decreases Stock Holdings in The Cooper Companies, Inc. (NASDAQ:COO)

Retirement Systems of Alabama lessened its holdings in The Cooper Companies, Inc. (NASDAQ:COO) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,295 shares of the medical device company’s stock after selling 550 shares during the period. Retirement Systems of Alabama’s holdings in Cooper Companies were worth $4,777,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in COO. Innealta Capital LLC purchased a new position in Cooper Companies in the second quarter valued at about $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Cooper Companies during the 3rd quarter valued at about $25,000. Crewe Advisors LLC raised its holdings in shares of Cooper Companies by 286.4% during the 2nd quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock valued at $30,000 after buying an additional 252 shares during the period. Tortoise Investment Management LLC lifted its position in Cooper Companies by 75.4% during the 2nd quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company’s stock worth $34,000 after acquiring an additional 169 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in Cooper Companies by 144.9% in the 3rd quarter. Covestor Ltd now owns 338 shares of the medical device company’s stock worth $37,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 24.39% of the company’s stock.

Cooper Companies Stock Performance

COO stock opened at $91.93 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 Cooper Companies, Inc. has a 12-month low of $84.76 and a 12-month high of $112.38. The stock’s 50 day simple moving average is $102.46 and its 200 day simple moving average is $98.90. The firm has a market cap of $18.35 billion, a P/E ratio of 47.14, a P/E/G ratio of 2.52 and a beta of 0.97.

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

Wall Street Analysts Forecast Growth

COO has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a research note on Friday, December 6th. Wells Fargo & Company boosted their price objective 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. Robert W. Baird raised their target price on Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Stifel Nicolaus reiterated a “buy” rating and issued a $115.00 price target (up previously from $110.00) on shares of Cooper Companies in a research note on Thursday, August 29th. Finally, Morgan Stanley dropped their price objective on Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.00.

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.