Truist Financial Corp Sells 7,525 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

Truist Financial Corp reduced its holdings in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 7.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 96,310 shares of the medical device company's stock after selling 7,525 shares during the quarter. Truist Financial Corp's holdings in Cooper Companies were worth $8,408,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. LRI Investments LLC increased its holdings in shares of Cooper Companies by 4.5% during the second quarter. LRI Investments LLC now owns 2,595 shares of the medical device company's stock valued at $227,000 after acquiring an additional 112 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Cooper Companies by 0.8% during the second quarter. Commonwealth Equity Services LLC now owns 15,600 shares of the medical device company's stock valued at $1,362,000 after acquiring an additional 118 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Cooper Companies by 4.8% during the second quarter. First Horizon Advisors Inc. now owns 2,709 shares of the medical device company's stock valued at $236,000 after acquiring an additional 125 shares in the last quarter. American International Group Inc. increased its holdings in shares of Cooper Companies by 1.0% during the fourth quarter. American International Group Inc. now owns 13,229 shares of the medical device company's stock valued at $5,006,000 after acquiring an additional 137 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Cooper Companies by 18.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the medical device company's stock valued at $87,000 after acquiring an additional 157 shares in the last quarter. 24.39% of the stock is currently owned by institutional investors.

Cooper Companies Stock Performance

COO stock traded down $1.05 during midday trading on Friday, hitting $105.92. The company's stock had a trading volume of 1,047,380 shares, compared to its average volume of 1,122,511. The stock's 50-day moving average price is $101.43 and its 200 day moving average price is $95.99. The company has a quick ratio of 1.18, a current ratio of 1.99 and a debt-to-equity ratio of 0.33. The Cooper Companies, Inc. has a 1 year low of $75.93 and a 1 year high of $112.38. The stock has a market cap of $21.09 billion, a price-to-earnings ratio of 62.31, a PEG ratio of 2.63 and a beta of 0.98.

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, beating the consensus estimate of $0.91 by $0.05. The firm had revenue of $1 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 earnings per share. On average, equities analysts forecast that The Cooper Companies, Inc. will post 3.65 EPS for the current year.

Insider Buying and Selling at Cooper Companies

In other Cooper Companies news, CFO Brian G. Andrews sold 24,788 shares of the business's stock in a transaction 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 sale, the chief financial officer now directly owns 6,614 shares in the company, valued at $700,422.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Brian G. Andrews sold 24,788 shares of the business's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $105.90, for a total transaction of $2,625,049.20. Following the sale, the chief financial officer now directly owns 6,614 shares in the company, valued at approximately $700,422.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Agostino Ricupati sold 1,601 shares of the business's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $108.03, for a total value of $172,956.03. Following the sale, the chief accounting officer now owns 4,818 shares in the company, valued at approximately $520,488.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 256,373 shares of company stock worth $27,637,427 over the last ninety days. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on COO shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Cooper Companies in a research report on Thursday, August 29th. Wells Fargo & Company lifted their target price on Cooper Companies from $110.00 to $115.00 and gave the company an "overweight" rating in a research report on Thursday, August 29th. Jefferies Financial Group raised Cooper Companies from a "hold" rating to a "buy" rating and lifted their target price for the company from $107.00 to $115.00 in a research report on Tuesday, July 16th. Stifel Nicolaus reaffirmed a "buy" rating and set a $115.00 target price (up previously from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. Finally, Piper Sandler lifted their target price on Cooper Companies from $115.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $115.00.

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.