M&T Bank Corp Trims Stake in The Cooper Companies, Inc. (NASDAQ:COO)

M&T Bank Corp decreased its holdings in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 32.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 112,361 shares of the medical device company's stock after selling 55,177 shares during the period. M&T Bank Corp owned 0.06% of Cooper Companies worth $12,399,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in Cooper Companies during the 3rd quarter valued at $25,000. Innealta Capital LLC purchased a new position in shares of Cooper Companies during the 2nd quarter worth $25,000. Covestor Ltd increased its position in shares of Cooper Companies by 144.9% during the third quarter. Covestor Ltd now owns 338 shares of the medical device company's stock valued at $37,000 after acquiring an additional 200 shares during the last quarter. Crewe Advisors LLC raised its position in Cooper Companies by 286.4% in the 2nd quarter. Crewe Advisors LLC now owns 340 shares of the medical device company's stock valued at $30,000 after purchasing an additional 252 shares in the last quarter. Finally, Tortoise Investment Management LLC increased its stake in Cooper Companies by 75.4% in the second 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. 24.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cooper Companies

In other news, CEO Albert G. White III sold 114,992 shares of the firm's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $110.53, for a total transaction of $12,710,065.76. Following the completion of the transaction, the chief executive officer now directly owns 165,273 shares in the company, valued at $18,267,624.69. This trade represents a 41.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Piper Sandler raised their price objective on Cooper Companies from $115.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, August 29th. Morgan Stanley reduced their price objective on shares of Cooper Companies from $104.00 to $102.00 and set an "equal weight" rating for the company in a report on Friday, December 6th. Needham & Company LLC restated a "hold" rating on shares of Cooper Companies in a report on Friday, December 6th. Robert W. Baird boosted their target price on Cooper Companies from $118.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, August 29th. Finally, StockNews.com downgraded Cooper Companies from a "buy" rating to a "hold" rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, Cooper Companies has an average rating of "Moderate Buy" and a consensus price target of $117.00.

Cooper Companies Stock Up 0.2 %

Shares of NASDAQ:COO traded up $0.20 during trading on Wednesday, reaching $99.28. 1,186,705 shares of the company traded hands, compared to its average volume of 1,158,810. The firm has a market cap of $19.77 billion, a P/E ratio of 50.91, a price-to-earnings-growth ratio of 2.17 and a beta of 0.97. The firm has a fifty day simple moving average of $103.92 and a 200 day simple moving average of $98.88. The Cooper Companies, Inc. has a 1-year low of $84.26 and a 1-year high of $112.38. The company has a quick ratio of 1.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.32.

Cooper Companies (NASDAQ:COO - Get Free Report) last issued its quarterly earnings results on Thursday, December 5th. The medical device company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 EPS. Analysts anticipate that The Cooper Companies, Inc. will post 3.98 earnings per share for the current fiscal year.

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, and myopia in the Americas, Europe, Middle East, Africa, and Asia Pacific.