Bank of New York Mellon Corp reduces the position on shares in The Cooper Companies, Inc. (NASDAQ:COO)

Bank of New York Mellon Corp reduced its holdings in The Cooper Companies, Inc. (NASDAQ:COO – Free Report ) by 14.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,485,513 shares of the medical device company’s stock after selling 245,681 shares during the quarter. Bank of New York Mellon Corp’s holdings in Cooper Companies were worth $129,685,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in COO. International Assets Investment Management LLC purchased a new stake in Cooper Companies in the 4th quarter valued at about $44,397,000. CWM LLC boosted its holdings in Cooper Companies by 16.4% in the 4th quarter. CWM LLC now owns 781 shares of the medical device company’s stock valued at $296,000 after purchasing an additional 110 shares during the last quarter. Syon Capital LLC purchased a new stake in Cooper Companies in the 4th quarter valued at about $218,000. Victory Capital Management Inc. boosted 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. Finally, Buckhead Capital Management LLC boosted its holdings in Cooper Companies by 4.8% in the 4th quarter. Buckhead Capital Management LLC now owns 10,930 shares of the medical device company’s stock valued at $4,136,000 after buying an additional 502 shares during the last quarter. Hedge funds and other institutional investors own 24.39% of the company’s shares.

Cooper Companies trades down 0.2%

Shares of Cooper Companies stock opened at $94.45 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.95, and a quick ratio of 1.14. Cooper Companies, Inc. has a 1 year low of $75.93 and a 1 year high of $104.07. The company has a market cap of $18.81 billion, a P/E ratio of 55.56, a P/E/G ratio of 2.34 and a beta of 0.98. The company has a 50-day moving average price of $90.86 and a 200-day moving average price of $94.03.

Cooper Companies (NASDAQ:COO – Get Free Report ) last released its quarterly earnings data 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 firm had revenue of $942.60 million during the quarter, compared to the consensus estimate of $948.07 million. During the same period in the previous year, the firm posted EPS of $0.77. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. Sell-side analysts anticipate that The Cooper Companies, Inc. will record 3.57 EPS for the current fiscal year.

The Wall Street analyst weighs in

A number of brokerages weighed in on COO. Jefferies Financial Group raised Cooper Companies from a “hold” rating to a “buy” rating and raised their price objective for the company from $107.00 to $115.00 in a report on Tuesday. July 16. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a research note on Friday. Piper Sandler reissued an “overweight” rating and set a $115.00 target price on shares of Cooper Companies in a research note on Wednesday, July 3rd. Finally, Robert W. Baird boosted their price target on Cooper Companies from $116.00 to $118.00 and gave the stock an “outperform” rating in a research note on Friday, May 31st. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Cooper Companies has an average rating of “Moderate Buy” and a consensus price target of $111.78, according to MarketBeat.

Get the latest stock report on COO

Cooper Companies Profile

(Free Report)

Cooper Companies, Inc, together with its subsidiaries, develops, manufactures and markets contact lens wearers. The company operates through two segments, CooperVision and CooperSurgical. The CooperVision segment offers spherical lenses, including lenses that correct myopia and hyperopia; and toric and multifocal lenses comprising lenses that correct vision problems such as astigmatism, presbyopia and myopia in the Americas, Europe, the Middle East, Africa and Asia Pacific.

See Also

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

Get daily news and ratings for Cooper companies – 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.