Principal Financial Group Inc. Raises Stake in The Cooper Companies, Inc. (NASDAQ:COO)

Principal Financial Group Inc. grew its holdings in The Cooper Companies, Inc. (NASDAQ:COO) by 6.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 238,305 shares of the medical device company’s stock after buying an additional 14,687 shares during the period. Principal Financial Group Inc. owned 0.12% of Cooper Companies worth $26,295,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. raised its position in Cooper Companies by 480.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 937,806 shares of the medical device company’s stock worth $81,870,000 after buying an additional 776,140 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Cooper Companies by 23.0% during the third quarter. Victory Capital Management Inc. now owns 3,950,119 shares of the medical device company’s stock worth $435,856,000 after purchasing an additional 737,726 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Cooper Companies in the second quarter valued at about $63,822,000. TD Asset Management Inc acquired a new stake in Cooper Companies in the second quarter valued at about $53,045,000. Finally, Impax Asset Management Group plc boosted its holdings in Cooper Companies by 31.0% in the 2nd quarter. Impax Asset Management Group plc now owns 2,359,798 shares of the medical device company’s stock valued at $205,511,000 after purchasing an additional 558,886 shares in the last quarter. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Cooper Companies Stock Performance

Cooper Companies stock opened at $92.81 on Wednesday. The Cooper Companies, Inc. has a fifty-two week low of $84.76 and a fifty-two week high of $112.38. The company has a market capitalization of $18.52 billion, a price-to-earnings ratio of 47.60, a PEG ratio of 2.52 and a beta of 0.97. The stock has a fifty day moving average of $101.58 and a two-hundred day moving average of $98.93. 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 announced its earnings results on Thursday, December 5th. The medical device company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company posted $0.87 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, analysts anticipate that The Cooper Companies, Inc. will post 3.98 EPS for the current fiscal year.

Analyst Ratings Changes

COO has been the subject of several recent analyst reports. Morgan Stanley reduced their price target on Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Friday, December 6th. Wells Fargo & Company increased their price target on shares of Cooper Companies from $115.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a report on Friday, December 6th. Piper Sandler increased their target price on shares of Cooper Companies from $115.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Citigroup decreased their price target on Cooper Companies from $116.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.