Franklin Resources Inc. Acquires 32,260 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

Franklin Resources Inc. grew its holdings in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 194.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 48,892 shares of the medical device company’s stock after acquiring an additional 32,260 shares during the period. Franklin Resources Inc.’s holdings in Cooper Companies were worth $5,265,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Synovus Financial Corp lifted its stake in shares of Cooper Companies by 18.8% in the third quarter. Synovus Financial Corp now owns 31,568 shares of the medical device company’s stock worth $3,483,000 after acquiring an additional 4,987 shares during the period. Tidal Investments LLC raised its holdings in Cooper Companies by 7.8% during the 3rd quarter. Tidal Investments LLC now owns 14,369 shares of the medical device company’s stock worth $1,585,000 after purchasing an additional 1,043 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Cooper Companies in the 3rd quarter worth approximately $1,150,000. Sanctuary Advisors LLC boosted its stake in shares of Cooper Companies by 18.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 40,609 shares of the medical device company’s stock valued at $4,093,000 after purchasing an additional 6,359 shares during the last quarter. Finally, Anchor Investment Management LLC increased its position in shares of Cooper Companies by 1,029.2% during the third quarter. Anchor Investment Management LLC now owns 1,084 shares of the medical device company’s stock worth $120,000 after buying an additional 988 shares during the period. Institutional investors and hedge funds own 24.39% of the company’s stock.

Cooper Companies Trading Down 1.0 %

NASDAQ:COO opened at $92.52 on Tuesday. The Cooper Companies, Inc. has a one year low of $84.76 and a one year high of $112.38. The company has a market cap of $18.47 billion, a PE ratio of 47.45, a PEG ratio of 2.52 and a beta of 0.97. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.12. The firm has a 50-day moving average of $102.20 and a 200-day moving average of $98.96.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Morgan Stanley cut their price target on shares of Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Friday, December 6th. Stifel Nicolaus reiterated a “buy” rating and issued a $115.00 target price (up from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. Piper Sandler increased their price target on Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. StockNews.com lowered shares of Cooper Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $117.00.

Cooper Companies Company 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.