LMR Partners LLP Raises Stock Holdings in The Cooper Companies, Inc. (NASDAQ:COO)

LMR Partners LLP raised its holdings in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 23.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 54,744 shares of the medical device company's stock after purchasing an additional 10,330 shares during the period. LMR Partners LLP's holdings in Cooper Companies were worth $6,040,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of COO. Ashton Thomas Securities LLC purchased a new stake in Cooper Companies in the third quarter worth approximately $25,000. Covestor Ltd increased its position in Cooper Companies by 305.9% during the first quarter. Covestor Ltd now owns 276 shares of the medical device company's stock valued at $28,000 after acquiring an additional 208 shares during the last quarter. Innealta Capital LLC purchased a new position in Cooper Companies in the second quarter worth about $25,000. Crewe Advisors LLC boosted its position in Cooper Companies by 286.4% in the second quarter. Crewe Advisors LLC now owns 340 shares of the medical device company's stock worth $30,000 after purchasing an additional 252 shares during the last quarter. Finally, Tortoise Investment Management LLC increased its position in shares of Cooper Companies by 75.4% during the 2nd quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company's stock valued at $34,000 after purchasing an additional 169 shares during the last quarter. Institutional investors own 24.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on COO shares. Stifel Nicolaus reissued a "buy" rating and issued a $115.00 price objective (up previously from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. Piper Sandler boosted their price objective on shares of Cooper Companies from $115.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, August 29th. Morgan Stanley raised their target price on Cooper Companies from $95.00 to $104.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 10th. Wells Fargo & Company boosted their price target on Cooper Companies from $110.00 to $115.00 and gave the company an "overweight" rating in a report on Thursday, August 29th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Cooper Companies in a research note on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Cooper Companies currently has an average rating of "Moderate Buy" and a consensus target price of $117.00.

Cooper Companies Price Performance

Shares of NASDAQ:COO traded down $0.43 during midday trading on Tuesday, reaching $99.05. 843,459 shares of the company were exchanged, compared to its average volume of 1,124,471. 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 cap of $19.73 billion, a PE ratio of 55.27, a price-to-earnings-growth ratio of 2.15 and a beta of 0.99. The business's fifty day moving average is $106.66 and its two-hundred day moving average is $98.12. The Cooper Companies, Inc. has a one year low of $82.21 and a one year high of $112.38.

Cooper Companies (NASDAQ:COO - Get Free Report) last issued its earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.05. The firm had revenue of $1 billion for the quarter, compared to analysts' expectations 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 was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 earnings per share. As a group, analysts predict that The Cooper Companies, Inc. will post 3.65 earnings per share for the current year.

Insider Buying and Selling

In other Cooper Companies news, CAO Agostino Ricupati sold 1,601 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $108.03, for a total transaction of $172,956.03. Following the sale, the chief accounting officer now directly owns 4,818 shares of the company's stock, valued at $520,488.54. The trade was a 24.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Albert G. White III sold 114,992 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $110.53, for a total value of $12,710,065.76. Following the completion of the sale, the chief executive officer now directly owns 165,273 shares of the company's stock, valued at $18,267,624.69. The trade was a 41.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 256,373 shares of company stock worth $27,637,427. Insiders own 2.00% of the company's stock.

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.