Advisors Asset Management Inc. Grows Stock Position in The Cooper Companies, Inc. (NASDAQ:COO)

Advisors Asset Management Inc. increased its holdings in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 24.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 34,639 shares of the medical device company's stock after acquiring an additional 6,839 shares during the period. Advisors Asset Management Inc.'s holdings in Cooper Companies were worth $3,822,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COO. Innealta Capital LLC acquired a new stake in shares of Cooper Companies during the second quarter valued at about $25,000. Ashton Thomas Securities LLC acquired a new position in Cooper Companies during the third quarter worth $25,000. Covestor Ltd boosted its position in shares of Cooper Companies by 305.9% during the first quarter. Covestor Ltd now owns 276 shares of the medical device company's stock worth $28,000 after buying an additional 208 shares during the period. Crewe Advisors LLC grew its stake in shares of Cooper Companies by 286.4% in the second quarter. Crewe Advisors LLC now owns 340 shares of the medical device company's stock valued at $30,000 after buying an additional 252 shares in the last quarter. Finally, Tortoise Investment Management LLC raised its holdings in shares of Cooper Companies by 75.4% in the 2nd quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company's stock valued at $34,000 after buying an additional 169 shares during the period. Institutional investors and hedge funds own 24.39% of the company's stock.

Cooper Companies Stock Up 0.9 %

NASDAQ:COO traded up $0.89 during trading hours on Friday, hitting $100.80. The company's stock had a trading volume of 1,140,361 shares, compared to its average volume of 1,177,279. The Cooper Companies, Inc. has a 52-week low of $82.21 and a 52-week high of $112.38. The company has a current ratio of 1.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $20.07 billion, a P/E ratio of 56.00, a price-to-earnings-growth ratio of 2.15 and a beta of 0.99. The stock has a fifty day moving average of $105.91 and a 200-day moving average of $98.29.

Cooper Companies (NASDAQ:COO - Get Free Report) last released its quarterly earnings data on Wednesday, August 28th. The medical device company reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.05. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $997.30 million. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The business's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.84 EPS. On average, equities analysts forecast that The Cooper Companies, Inc. will post 3.65 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on COO. Wells Fargo & Company raised their target price on Cooper Companies from $110.00 to $115.00 and gave the company an "overweight" rating in a report on Thursday, August 29th. Needham & Company LLC restated a "hold" rating on shares of Cooper Companies in a report on Thursday, August 29th. Robert W. Baird increased their target price on shares of Cooper Companies from $118.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, August 29th. Morgan Stanley boosted their price target on shares of Cooper Companies from $95.00 to $104.00 and gave the stock an "equal weight" rating in a research note on Tuesday, September 10th. Finally, StockNews.com lowered Cooper Companies from a "buy" rating to a "hold" rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $117.00.

Insiders Place Their Bets

In related news, COO Daniel G. Mcbride sold 114,992 shares of the company's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $105.48, for a total value of $12,129,356.16. Following the completion of the sale, the chief operating officer now directly owns 44,696 shares of the company's stock, valued at $4,714,534.08. This represents a 72.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian G. Andrews sold 24,788 shares of the firm's stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $105.90, for a total value of $2,625,049.20. Following the transaction, the chief financial officer now owns 6,614 shares in the company, valued at $700,422.60. This represents a 78.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 256,373 shares of company stock valued at $27,637,427. 2.00% of the stock is owned by corporate insiders.

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.