JPMorgan Chase & Co. Boosts Stake in The Cooper Companies, Inc. (NASDAQ:COO)

JPMorgan Chase & Co. increased its position in The Cooper Companies, Inc. (NASDAQ:COO) by 13.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,930,022 shares of the medical device company’s stock after purchasing an additional 573,908 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.47% of Cooper Companies worth $543,979,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Innealta Capital LLC purchased a new stake in Cooper Companies in the second quarter worth about $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Cooper Companies in the 3rd quarter worth approximately $25,000. Tortoise Investment Management LLC increased its position in Cooper Companies by 75.4% during the 2nd quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company’s stock valued at $34,000 after buying an additional 169 shares in the last quarter. Covestor Ltd raised its stake in Cooper Companies by 144.9% during the third quarter. Covestor Ltd now owns 338 shares of the medical device company’s stock valued at $37,000 after buying an additional 200 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in Cooper Companies by 191.0% in the third quarter. Brown Brothers Harriman & Co. now owns 419 shares of the medical device company’s stock worth $46,000 after acquiring an additional 275 shares in the last quarter. 24.39% of the stock is currently owned by institutional investors.

Cooper Companies Price Performance

Shares of NASDAQ:COO opened at $92.34 on Friday. 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 has a market capitalization of $18.43 billion, a PE ratio of 47.35, a price-to-earnings-growth ratio of 2.52 and a beta of 0.97. The firm’s 50 day moving average price is $100.66 and its 200-day moving average price is $98.86. The Cooper Companies, Inc. has a twelve month low of $84.76 and a twelve month high of $112.38.

Cooper Companies (NASDAQ:COO) last issued its quarterly earnings results on Thursday, December 5th. The medical device company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 EPS. Equities research analysts expect that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. StockNews.com lowered Cooper Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Morgan Stanley decreased their target price on shares of Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a report on Friday, December 6th. Wells Fargo & Company boosted their price objective on shares of Cooper Companies from $115.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Citigroup reduced their target price on Cooper Companies from $116.00 to $115.00 and set a “buy” rating for the company in a report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Cooper Companies presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.00.

Cooper Companies 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.