Highland Capital Management LLC Reduces Position in The Cooper Companies, Inc. (NASDAQ:COO)

Highland Capital Management LLC cut its holdings in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 0.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,240 shares of the medical device company’s stock after selling 320 shares during the quarter. Highland Capital Management LLC’s holdings in Cooper Companies were worth $3,647,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. OFI Invest Asset Management acquired a new stake in Cooper Companies during the fourth quarter valued at approximately $34,000. City Holding Co. bought a new stake in shares of Cooper Companies in the 1st quarter valued at approximately $34,000. New Age Alpha Advisors LLC bought a new stake in shares of Cooper Companies in the 4th quarter valued at approximately $38,000. Covestor Ltd increased its holdings in shares of Cooper Companies by 35.5% in the 4th quarter. Covestor Ltd now owns 458 shares of the medical device company’s stock valued at $42,000 after acquiring an additional 120 shares during the last quarter. Finally, Atala Financial Inc bought a new stake in shares of Cooper Companies in the 4th quarter valued at approximately $51,000. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on COO shares. Loop Capital set a $100.00 target price on shares of Cooper Companies in a research note on Tuesday, June 17th. BNP Paribas upgraded shares of Cooper Companies to a “hold” rating in a research note on Thursday, March 13th. Robert W. Baird lowered their price objective on shares of Cooper Companies from $107.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday, May 30th. Wall Street Zen raised shares of Cooper Companies from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Stifel Nicolaus lowered their price objective on shares of Cooper Companies from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $99.70.

Cooper Companies Stock Up 2.1%

COO opened at $71.14 on Friday. The Cooper Companies, Inc. has a 12 month low of $65.00 and a 12 month high of $112.38. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.10 and a quick ratio of 1.23. The stock has a market cap of $14.23 billion, a P/E ratio of 34.53, a P/E/G ratio of 1.70 and a beta of 0.98. The stock’s 50 day moving average price is $76.42 and its 200 day moving average price is $84.13.

Cooper Companies (NASDAQ:COO) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $995.12 million. Cooper Companies had a return on equity of 9.60% and a net margin of 10.39%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $0.85 earnings per share. As a group, research analysts predict that The Cooper Companies, Inc. will post 3.98 earnings per share for the current year.

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.