Rhenman & Partners Asset Management AB Has $20.25 Million Position in The Cooper Companies, Inc. (NYSE:COO)

Rhenman & Partners Asset Management AB reduced its stake in The Cooper Companies, Inc. (NYSE:COO) by 22.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,800 shares of the medical device company’s stock after selling 15,200 shares during the period. Cooper Companies accounts for approximately 2.1% of Rhenman & Partners Asset Management AB’s investment portfolio, making the stock its 17th biggest position. Rhenman & Partners Asset Management AB’s holdings in Cooper Companies were worth $20,245,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Venturi Wealth Management LLC increased its holdings in shares of Cooper Companies by 59.3% in the second quarter. Venturi Wealth Management LLC now owns 86 shares of the medical device company’s stock valued at $33,000 after purchasing an additional 32 shares during the last quarter. KB Financial Partners LLC acquired a new position in shares of Cooper Companies in the first quarter valued at $34,000. Clear Street Markets LLC increased its holdings in shares of Cooper Companies by 93.9% in the first quarter. Clear Street Markets LLC now owns 95 shares of the medical device company’s stock valued at $35,000 after purchasing an additional 46 shares during the last quarter. Colonial Trust Co SC acquired a new position in shares of Cooper Companies in the first quarter valued at $41,000. Finally, Trivant Custom Portfolio Group LLC acquired a new position in shares of Cooper Companies in the first quarter valued at $58,000. 96.31% of the stock is currently owned by institutional investors and hedge funds.

Cooper Companies Price Performance

Shares of COO traded down $0.23 during mid-day trading on Tuesday, reaching $337.78. The company had a trading volume of 66,636 shares, compared to its average volume of 290,186. The company’s 50 day simple moving average is $325.72 and its 200 day simple moving average is $358.50. The Cooper Companies, Inc. has a 1-year low of $302.88 and a 1-year high of $399.62. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.72. The company has a market capitalization of $16.73 billion, a price-to-earnings ratio of 61.12, a P/E/G ratio of 2.69 and a beta of 0.94.

Cooper Companies (NYSE:COO) last posted its quarterly earnings results on Wednesday, August 30th. The medical device company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.34 by $0.01. Cooper Companies had a net margin of 7.83% and a return on equity of 8.17%. The company had revenue of $930.20 million for the quarter, compared to the consensus estimate of $899.77 million. During the same period last year, the company posted $3.19 EPS. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. Analysts expect that The Cooper Companies, Inc. will post 12.81 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on COO shares. Stifel Nicolaus restated a “buy” rating and issued a $420.00 price target on shares of Cooper Companies in a research note on Thursday, August 31st. Bank of America started coverage on shares of Cooper Companies in a research note on Monday, October 30th. They issued a “buy” rating and a $380.00 price target on the stock. Robert W. Baird upped their price target on shares of Cooper Companies from $400.00 to $410.00 and gave the company an “outperform” rating in a research note on Thursday, August 31st. Mizuho restated a “buy” rating and issued a $440.00 price target on shares of Cooper Companies in a research note on Monday, August 28th. Finally, Morgan Stanley started coverage on shares of Cooper Companies in a research note on Thursday, September 28th. They issued an “equal weight” rating and a $410.00 price target on the stock. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $401.30.

About Cooper Companies

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, myopia, ocular dryness and eye fatigues in the Americas, Europe, Middle East, Africa, and Asia Pacific.