The Cooper Companies, Inc. (NASDAQ:COO) Position Cut by Point72 Asset Management L.P.

Point72 Asset Management L.P. decreased its stake in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 79.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 188,631 shares of the medical device company's stock after selling 749,175 shares during the period. Point72 Asset Management L.P. owned 0.09% of Cooper Companies worth $20,813,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the company. Innealta Capital LLC bought a new position in Cooper Companies in the 2nd quarter valued at approximately $25,000. Ashton Thomas Securities LLC bought a new position in shares of Cooper Companies in the third quarter valued at $25,000. Crewe Advisors LLC raised its stake in shares of 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. Tortoise Investment Management LLC grew its stake in shares of Cooper Companies by 75.4% in the 2nd quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company's stock worth $34,000 after acquiring an additional 169 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of Cooper Companies by 144.9% during the 3rd quarter. Covestor Ltd now owns 338 shares of the medical device company's stock worth $37,000 after buying an additional 200 shares in the last quarter. Institutional investors own 24.39% of the company's stock.

Cooper Companies Stock Down 4.4 %

Shares of COO traded down $4.53 during midday trading on Friday, hitting $98.70. 3,694,024 shares of the company's stock traded hands, compared to its average volume of 1,154,534. The Cooper Companies, Inc. has a 1 year low of $82.69 and a 1 year high of $112.38. The stock has a market capitalization of $19.66 billion, a price-to-earnings ratio of 55.03, a price-to-earnings-growth ratio of 2.24 and a beta of 0.97. 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 firm's fifty day moving average is $104.72 and its 200-day moving average is $98.77.

Cooper Companies (NASDAQ:COO - Get Free Report) last issued its quarterly earnings data on Thursday, December 5th. The medical device company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.03 billion. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. The business's revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $0.87 EPS. As a group, sell-side analysts anticipate that The Cooper Companies, Inc. will post 3.65 earnings per share for the current year.

Insider Activity at Cooper Companies

In related news, CEO Albert G. White III sold 114,992 shares of the company's stock in a transaction 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 owns 165,273 shares in the company, valued at $18,267,624.69. This represents a 41.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Agostino Ricupati sold 1,601 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $108.03, for a total transaction of $172,956.03. Following the transaction, the chief accounting officer now directly owns 4,818 shares of the company's stock, valued at $520,488.54. This represents a 24.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

COO has been the subject of several recent research reports. Morgan Stanley decreased their price objective on Cooper Companies from $104.00 to $102.00 and set an "equal weight" rating for the company in a report on Friday. Robert W. Baird boosted their price objective on shares of Cooper Companies from $118.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, August 29th. Citigroup lowered their price objective on Cooper Companies from $116.00 to $115.00 and set a "buy" rating for the company in a research report on Friday. Needham & Company LLC reiterated a "hold" rating on shares of Cooper Companies in a research report on Friday. Finally, Stifel Nicolaus reissued a "buy" rating and set a $115.00 price objective (up previously from $110.00) on shares of Cooper Companies in a research note on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $117.00.

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.