Mufg Securities Americas Inc. Makes New $270,000 Investment in The Cooper Companies, Inc. (NASDAQ:COO)

Mufg Securities Americas Inc. purchased a new stake in shares of The Cooper Companies, Inc. (NASDAQ:COO) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,940 shares of the medical device company’s stock, valued at approximately $270,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. increased its position in shares of Cooper Companies by 2.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,678,965 shares of the medical device company’s stock worth $705,928,000 after acquiring an additional 155,233 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Cooper Companies by 1.5% during the fourth quarter. JPMorgan Chase & Co. now owns 5,004,523 shares of the medical device company’s stock worth $460,066,000 after purchasing an additional 74,501 shares in the last quarter. Geode Capital Management LLC boosted its stake in Cooper Companies by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 4,906,463 shares of the medical device company’s stock valued at $449,907,000 after acquiring an additional 109,907 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Cooper Companies by 14.6% in the fourth quarter. Victory Capital Management Inc. now owns 4,525,018 shares of the medical device company’s stock valued at $415,985,000 after acquiring an additional 574,899 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Cooper Companies by 517.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,529,477 shares of the medical device company’s stock worth $324,466,000 after buying an additional 2,957,421 shares during the period. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Cooper Companies Price Performance

COO stock opened at $82.92 on Friday. The Cooper Companies, Inc. has a 52-week low of $69.81 and a 52-week high of $112.38. The stock has a market capitalization of $16.58 billion, a price-to-earnings ratio of 42.52, a price-to-earnings-growth ratio of 2.25 and a beta of 1.08. The company has a quick ratio of 1.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.32. The stock’s fifty day simple moving average is $80.19 and its 200-day simple moving average is $90.20.

Cooper Companies (NASDAQ:COO) last issued its earnings results on Thursday, March 6th. The medical device company reported $0.92 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.92. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. The firm had revenue of $964.70 million for the quarter, compared to analysts’ expectations of $981.25 million. Equities research analysts expect that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on COO. Stifel Nicolaus dropped their target price on Cooper Companies from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Piper Sandler reissued an “overweight” rating and set a $115.00 target price (down from $120.00) on shares of Cooper Companies in a research note on Friday, March 7th. JPMorgan Chase & Co. dropped their price objective on Cooper Companies from $120.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. BNP Paribas upgraded Cooper Companies to a “hold” rating in a report on Thursday, March 13th. Finally, Citigroup lowered their target price on Cooper Companies from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.25.

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.