Wellington Management Group LLP Grows Position in The Cooper Companies, Inc. (NASDAQ:COO)

Wellington Management Group LLP increased its position in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 517.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 175,152 shares of the medical device company’s stock after buying an additional 146,771 shares during the quarter. Wellington Management Group LLP owned about 0.09% of Cooper Companies worth $16,102,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Byrne Asset Management LLC purchased a new position in shares of Cooper Companies in the 4th quarter valued at approximately $33,000. OFI Invest Asset Management acquired a new stake in shares of Cooper Companies in the 4th quarter valued at approximately $34,000. New Age Alpha Advisors LLC acquired a new stake in shares of Cooper Companies in the 4th quarter valued at approximately $38,000. Covestor Ltd lifted its holdings in shares of Cooper Companies by 35.5% in the 4th quarter. Covestor Ltd now owns 458 shares of the medical device company’s stock valued at $42,000 after buying an additional 120 shares during the period. Finally, Atala Financial Inc acquired a new stake in shares of Cooper Companies in the 4th quarter valued at approximately $51,000. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Citigroup reduced their price target on Cooper Companies from $115.00 to $110.00 and set a “buy” rating for the company in a report on Friday, March 7th. Stifel Nicolaus reduced their price target on Cooper Companies from $115.00 to $105.00 and set a “buy” rating for the company in a report on Friday, March 7th. Piper Sandler reissued an “overweight” rating and issued a $105.00 price target (down from $115.00) on shares of Cooper Companies in a report on Friday. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $76.00 price target (down from $110.00) on shares of Cooper Companies in a report on Friday. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $100.38.

Cooper Companies Stock Performance

Shares of COO stock opened at $68.94 on Monday. The Cooper Companies, Inc. has a 1 year low of $65.95 and a 1 year high of $112.38. The stock has a market cap of $13.79 billion, a PE ratio of 35.35, a P/E/G ratio of 2.25 and a beta of 1.08. The stock has a fifty day moving average price of $79.82 and a 200 day moving average price of $88.29. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.12 and a current ratio of 1.91.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings results on Thursday, May 29th. The medical device company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $995.12 million. During the same period in the previous year, the firm posted $0.85 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. Sell-side 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.