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

M&T Bank Corp reduced its position in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 32.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 large investors also recently modified their holdings of the company. Victory Capital Management Inc. raised its position in Cooper Companies by 23.0% during the 3rd quarter. Victory Capital Management Inc. now owns 3,950,119 shares of the medical device company's stock valued at $435,856,000 after purchasing an additional 737,726 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Cooper Companies by 3.7% during the second quarter. Envestnet Asset Management Inc. now owns 758,332 shares of the medical device company's stock valued at $66,202,000 after acquiring an additional 26,787 shares in the last quarter. TD Asset Management Inc purchased a new stake in Cooper Companies in the second quarter worth $53,045,000. Qsemble Capital Management LP bought a new stake in Cooper Companies in the second quarter valued at $4,078,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Cooper Companies by 60.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 38,065 shares of the medical device company's stock valued at $3,323,000 after purchasing an additional 14,413 shares during the period. 24.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company raised their price objective on shares of Cooper Companies from $115.00 to $118.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Needham & Company LLC reissued a "hold" rating on shares of Cooper Companies in a research note on Friday, December 6th. Stifel Nicolaus reiterated a "buy" rating and issued a $115.00 target price (up previously from $110.00) on shares of Cooper Companies in a research note on Thursday, August 29th. Piper Sandler increased their price objective on Cooper Companies from $115.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, August 29th. Finally, StockNews.com downgraded shares of Cooper Companies from a "buy" rating to a "hold" rating in a research report on Wednesday, December 11th. 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $117.00.

Cooper Companies Stock Performance

NASDAQ:COO traded up $1.51 during mid-day trading on Friday, hitting $93.44. 2,784,859 shares of the company traded hands, compared to its average volume of 1,180,332. The company has a quick ratio of 1.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.32. The stock's fifty day moving average price is $102.20 and its 200-day moving average price is $98.92. The firm has a market cap of $18.65 billion, a price-to-earnings ratio of 47.92, a price-to-earnings-growth ratio of 2.52 and a beta of 0.97. The Cooper Companies, Inc. has a one year low of $84.76 and a one year high of $112.38.

Cooper Companies (NASDAQ:COO - Get Free Report) last announced its quarterly earnings data on Thursday, December 5th. The medical device company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The company 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 firm's revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 EPS. Research analysts anticipate that The Cooper Companies, Inc. will post 3.98 earnings per share for the current fiscal year.

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.