Veritas Asset Management LLP lessened its position in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 1.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,409,878 shares of the medical device company's stock after selling 70,571 shares during the quarter. Cooper Companies comprises 3.6% of Veritas Asset Management LLP's investment portfolio, making the stock its 14th biggest holding. Veritas Asset Management LLP owned about 2.21% of Cooper Companies worth $486,586,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in COO. Vanguard Group Inc. raised its stake in Cooper Companies by 303.0% during the 1st quarter. Vanguard Group Inc. now owns 23,099,975 shares of the medical device company's stock valued at $2,343,723,000 after acquiring an additional 17,367,502 shares during the last quarter. Capital World Investors increased its stake in Cooper Companies by 301.7% in the 1st quarter. Capital World Investors now owns 5,654,023 shares of the medical device company's stock valued at $573,657,000 after buying an additional 4,246,519 shares during the period. Janus Henderson Group PLC raised its position in Cooper Companies by 279.8% during the 1st quarter. Janus Henderson Group PLC now owns 3,437,064 shares of the medical device company's stock worth $348,723,000 after buying an additional 2,532,186 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Cooper Companies by 305.2% in the first quarter. Bessemer Group Inc. now owns 2,000,910 shares of the medical device company's stock valued at $203,013,000 after acquiring an additional 1,507,049 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of Cooper Companies during the first quarter worth about $139,246,000. Institutional investors and hedge funds own 24.39% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on COO shares. Piper Sandler boosted their target price on Cooper Companies from $115.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, August 29th. Stifel Nicolaus reaffirmed a "buy" rating and set a $115.00 price objective (up from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. Jefferies Financial Group raised Cooper Companies from a "hold" rating to a "buy" rating and raised their price target for the stock from $107.00 to $115.00 in a research report on Tuesday, July 16th. Morgan Stanley lifted their price objective on Cooper Companies from $95.00 to $104.00 and gave the stock an "equal weight" rating in a research report on Tuesday, September 10th. Finally, Wells Fargo & Company raised their price target on shares of Cooper Companies from $110.00 to $115.00 and gave the stock an "overweight" rating in a research note on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Cooper Companies presently has a consensus rating of "Moderate Buy" and an average target price of $117.00.
Get Our Latest Stock Analysis on Cooper Companies
Insider Activity
In other news, CFO Brian G. Andrews sold 24,788 shares of the firm's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $105.90, for a total transaction of $2,625,049.20. Following the completion of the sale, the chief financial officer now owns 6,614 shares of the company's stock, valued at approximately $700,422.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Brian G. Andrews sold 24,788 shares of the business's stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 6,614 shares of the company's stock, 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 Securities & Exchange Commission, which is available through this link. Also, CAO Agostino Ricupati sold 1,601 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $108.03, for a total value of $172,956.03. Following the transaction, the chief accounting officer now directly owns 4,818 shares in the company, valued at approximately $520,488.54. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 256,373 shares of company stock worth $27,637,427 over the last ninety days. Corporate insiders own 2.00% of the company's stock.
Cooper Companies Trading Up 1.1 %
NASDAQ COO traded up $1.17 during mid-day trading on Friday, hitting $105.85. The company's stock had a trading volume of 715,874 shares, compared to its average volume of 1,170,169. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.99 and a quick ratio of 1.18. The Cooper Companies, Inc. has a 52-week low of $78.63 and a 52-week high of $112.38. The stock's fifty day simple moving average is $106.78 and its two-hundred day simple moving average is $97.11. The firm has a market capitalization of $21.08 billion, a P/E ratio of 58.97, a price-to-earnings-growth ratio of 2.51 and a beta of 0.99.
Cooper Companies (NASDAQ:COO - Get Free Report) last announced its quarterly 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 during 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 firm's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 EPS. Research analysts expect that The Cooper Companies, Inc. will post 3.65 EPS for the current year.
Cooper Companies Profile
(
Free Report)
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.
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