EverSource Wealth Advisors LLC Increases Position in The Cooper Companies, Inc. (NASDAQ:COO)

EverSource Wealth Advisors LLC increased its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 9.0% in the 4th quarter, Holdings Channel reports. The fund owned 6,297 shares of the medical device company’s stock after buying an additional 518 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Cooper Companies were worth $579,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in Cooper Companies in the third quarter worth $25,000. Covestor Ltd lifted its stake in Cooper Companies by 144.9% in the third quarter. Covestor Ltd now owns 338 shares of the medical device company’s stock worth $37,000 after purchasing an additional 200 shares during the last quarter. Byrne Asset Management LLC bought a new stake in Cooper Companies in the fourth quarter worth $33,000. OFI Invest Asset Management bought a new stake in Cooper Companies in the fourth quarter worth $34,000. Finally, Brown Brothers Harriman & Co. lifted its stake 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 purchasing an additional 275 shares during the last quarter. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Robert W. Baird lowered their price target on shares of Cooper Companies from $117.00 to $107.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Piper Sandler reissued an “overweight” rating and issued a $115.00 price target (down from $120.00) on shares of Cooper Companies in a research note on Friday, March 7th. Morgan Stanley lowered their price target on shares of Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Friday, December 6th. JPMorgan Chase & Co. lowered their price target on shares of Cooper Companies from $120.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Finally, StockNews.com downgraded shares of Cooper Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $111.89.

Cooper Companies Price Performance

COO stock opened at $81.22 on Friday. The Cooper Companies, Inc. has a 1 year low of $77.05 and a 1 year high of $112.38. The company has a market cap of $16.21 billion, a P/E ratio of 41.65, a PEG ratio of 2.25 and a beta of 1.02. The firm has a 50-day moving average of $91.20 and a 200 day moving average of $98.86. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.12.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings results on Thursday, March 6th. The medical device company reported $0.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.92. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. The company had revenue of $964.70 million during the quarter, compared to the consensus estimate of $981.25 million. On average, sell-side analysts forecast that The Cooper Companies, Inc. will post 3.98 EPS 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.