Sumitomo Mitsui Trust Holdings Inc. Acquires 352,581 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

Sumitomo Mitsui Trust Holdings Inc. raised its holdings in The Cooper Companies, Inc. (NASDAQ:COOFree Report) by 299.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 470,437 shares of the medical device company’s stock after purchasing an additional 352,581 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.24% of Cooper Companies worth $47,731,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Congress Asset Management Co. MA raised its position in shares of Cooper Companies by 252.4% during the first quarter. Congress Asset Management Co. MA now owns 1,263,754 shares of the medical device company’s stock worth $128,220,000 after acquiring an additional 905,173 shares during the last quarter. Norges Bank bought a new stake in Cooper Companies in the fourth quarter valued at about $196,045,000. Victory Capital Management Inc. increased its holdings in Cooper Companies by 16.5% in the fourth quarter. Victory Capital Management Inc. now owns 995,245 shares of the medical device company’s stock valued at $376,641,000 after purchasing an additional 140,700 shares during the last quarter. Congress Wealth Management LLC DE increased its holdings in Cooper Companies by 312.5% in the first quarter. Congress Wealth Management LLC DE now owns 156,965 shares of the medical device company’s stock valued at $15,926,000 after purchasing an additional 118,916 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Cooper Companies in the fourth quarter valued at about $44,397,000. Institutional investors own 24.39% of the company’s stock.

Cooper Companies Stock Performance

COO opened at $85.90 on Friday. The Cooper Companies, Inc. has a 52-week low of $75.93 and a 52-week high of $104.07. The firm has a market capitalization of $17.10 billion, a PE ratio of 50.53, a PEG ratio of 2.12 and a beta of 0.98. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.95. The business’s 50-day simple moving average is $92.31 and its 200 day simple moving average is $94.63.

Cooper Companies (NASDAQ:COOGet Free Report) last released its earnings results on Thursday, May 30th. The medical device company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. Cooper Companies had a return on equity of 8.87% and a net margin of 9.11%. The business had revenue of $942.60 million for the quarter, compared to analyst estimates of $948.07 million. During the same quarter in the prior year, the company posted $0.77 earnings per share. Cooper Companies’s revenue was up 7.4% on a year-over-year basis. As a group, sell-side analysts expect that The Cooper Companies, Inc. will post 3.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on COO shares. Piper Sandler reiterated an “overweight” rating and issued a $115.00 price objective on shares of Cooper Companies in a report on Wednesday. JPMorgan Chase & Co. raised Cooper Companies from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $100.00 to $120.00 in a research note on Wednesday, March 13th. Robert W. Baird boosted their target price on Cooper Companies from $116.00 to $118.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a research note on Friday, May 31st. Finally, Citigroup upped their price objective on Cooper Companies from $108.00 to $116.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $111.42.

Read Our Latest Report on Cooper Companies

Cooper Companies Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding COO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Cooper Companies, Inc. (NASDAQ:COOFree Report).

Institutional Ownership by Quarter for Cooper Companies (NASDAQ:COO)

Receive News & Ratings for Cooper Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cooper Companies and related companies with MarketBeat.com's FREE daily email newsletter.