Parallel Advisors LLC Trims Stock Holdings in The Cooper Companies, Inc. (NASDAQ:COO)

Parallel Advisors LLC trimmed its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 10.1% during the 1st quarter, HoldingsChannel reports. The fund owned 2,152 shares of the medical device company’s stock after selling 242 shares during the quarter. Parallel Advisors LLC’s holdings in Cooper Companies were worth $181,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Byrne Asset Management LLC bought a new stake in Cooper Companies in the fourth quarter worth $33,000. OFI Invest Asset Management bought a new stake in Cooper Companies in the fourth quarter worth $34,000. New Age Alpha Advisors LLC bought a new stake in Cooper Companies in the fourth quarter worth $38,000. Covestor Ltd boosted its holdings in Cooper Companies by 35.5% in the fourth quarter. Covestor Ltd now owns 458 shares of the medical device company’s stock worth $42,000 after acquiring an additional 120 shares in the last quarter. Finally, Atala Financial Inc bought a new stake in Cooper Companies in the fourth quarter worth $51,000. 24.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on COO. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $76.00 price target (down from $110.00) on shares of Cooper Companies in a report on Friday, May 30th. Stifel Nicolaus lowered their price target on Cooper Companies from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a report on Thursday, May 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $105.00 price target (down from $115.00) on shares of Cooper Companies in a report on Friday, May 30th. Finally, Robert W. Baird lowered their price target on Cooper Companies from $107.00 to $97.00 and set an “outperform” rating on the stock in a report on Friday, May 30th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $100.38.

Cooper Companies Stock Up 5.6%

Cooper Companies stock opened at $71.18 on Friday. The stock has a market cap of $14.23 billion, a PE ratio of 36.50, a price-to-earnings-growth ratio of 2.25 and a beta of 0.98. 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 Cooper Companies, Inc. has a one year low of $65.00 and a one year high of $112.38. The stock has a fifty day moving average of $78.53 and a 200 day moving average of $87.57.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings data on Thursday, May 29th. The medical device company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $995.12 million. 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 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 earnings per share. As a group, sell-side analysts predict that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

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.