State of Michigan Retirement System Boosts Stock Holdings in The Cooper Companies, Inc. (NASDAQ:COO)

State of Michigan Retirement System grew its holdings in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 302.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,444 shares of the medical device company’s stock after purchasing an additional 40,908 shares during the period. State of Michigan Retirement System’s holdings in Cooper Companies were worth $5,524,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of COO. Blue Trust Inc. raised its position in Cooper Companies by 54.8% during the fourth quarter. Blue Trust Inc. now owns 96 shares of the medical device company’s stock worth $36,000 after acquiring an additional 34 shares during the last quarter. Lindbrook Capital LLC lifted its stake in Cooper Companies by 182.5% in the 4th quarter. Lindbrook Capital LLC now owns 113 shares of the medical device company’s stock valued at $43,000 after buying an additional 73 shares in the last quarter. Desjardins Global Asset Management Inc. grew its holdings in Cooper Companies by 44.8% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 152 shares of the medical device company’s stock valued at $58,000 after buying an additional 47 shares during the last quarter. Venturi Wealth Management LLC increased its position in Cooper Companies by 30.4% during the fourth quarter. Venturi Wealth Management LLC now owns 180 shares of the medical device company’s stock worth $68,000 after buying an additional 42 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Cooper Companies by 123.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 223 shares of the medical device company’s stock worth $84,000 after acquiring an additional 123 shares during the last quarter. 24.39% of the stock is owned by hedge funds and other institutional investors.

Cooper Companies Stock Up 0.1 %

NASDAQ:COO opened at $86.51 on Wednesday. The firm has a market capitalization of $17.23 billion, a PE ratio of 50.81, a price-to-earnings-growth ratio of 2.16 and a beta of 0.98. The Cooper Companies, Inc. has a 52 week low of $75.93 and a 52 week high of $104.07. The company has a current ratio of 1.95, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average of $92.55 and a 200-day moving average of $94.77.

Cooper Companies (NASDAQ:COO) last posted its earnings results on Thursday, May 30th. The medical device company reported $0.85 EPS for the quarter, beating 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 firm had revenue of $942.60 million for the quarter, compared to analysts’ expectations of $948.07 million. During the same period last year, the firm earned $0.77 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. Analysts predict that The Cooper Companies, Inc. will post 3.57 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on COO shares. Redburn Atlantic upgraded Cooper Companies from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Tuesday, March 19th. Robert W. Baird raised their target price on shares of Cooper Companies from $116.00 to $118.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a report on Friday, May 31st. Citigroup lifted their price objective on Cooper Companies from $108.00 to $116.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. raised Cooper Companies from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $100.00 to $120.00 in a research note on Wednesday, March 13th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Cooper Companies has an average rating of “Moderate Buy” and an average price target of $111.42.

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.