Citigroup Inc. Sells 90,878 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

Citigroup Inc. lessened its holdings in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 33.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 180,403 shares of the medical device company's stock after selling 90,878 shares during the period. Citigroup Inc. owned approximately 0.09% of Cooper Companies worth $19,906,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of COO. Quent Capital LLC raised its position in Cooper Companies by 300.0% in the first quarter. Quent Capital LLC now owns 828 shares of the medical device company's stock worth $84,000 after acquiring an additional 621 shares during the period. Acadian Asset Management LLC lifted its stake in Cooper Companies by 300.0% in the first quarter. Acadian Asset Management LLC now owns 720 shares of the medical device company's stock valued at $73,000 after purchasing an additional 540 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Cooper Companies by 443.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 4,876 shares of the medical device company's stock valued at $495,000 after purchasing an additional 3,979 shares during the period. Lazard Asset Management LLC increased its position in Cooper Companies by 207.6% in the first quarter. Lazard Asset Management LLC now owns 4,759 shares of the medical device company's stock worth $482,000 after buying an additional 3,212 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Cooper Companies by 302.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 283,380 shares of the medical device company's stock valued at $28,753,000 after buying an additional 212,908 shares during the period. 24.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on COO shares. Wells Fargo & Company lifted their price objective on Cooper Companies from $110.00 to $115.00 and gave the stock an "overweight" rating in a report on Thursday, August 29th. Needham & Company LLC reiterated a "hold" rating on shares of Cooper Companies in a research note on Wednesday. Stifel Nicolaus restated a "buy" rating and set a $115.00 price target (up from $110.00) on shares of Cooper Companies in a research note on Thursday, August 29th. Piper Sandler lifted their price objective on shares of Cooper Companies from $115.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, August 29th. Finally, StockNews.com cut shares of Cooper Companies from a "buy" rating to a "hold" rating in a report on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $117.00.

Cooper Companies Price Performance

Cooper Companies stock traded down $0.03 during midday trading on Wednesday, hitting $102.61. 156,484 shares of the company's stock were exchanged, compared to its average volume of 1,128,683. The stock has a 50-day moving average price of $105.74 and a two-hundred day moving average price of $98.39. The Cooper Companies, Inc. has a 52-week low of $82.21 and a 52-week high of $112.38. The company has a market cap of $20.44 billion, a P/E ratio of 57.18, a PEG ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.99.

Cooper Companies (NASDAQ:COO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 28th. The medical device company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.05. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. The company had revenue of $1 billion for the quarter, compared to analysts' expectations of $997.30 million. During the same period in the prior year, the business earned $0.84 earnings per share. Cooper Companies's revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities research analysts forecast that The Cooper Companies, Inc. will post 3.65 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Agostino Ricupati sold 1,601 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 4,818 shares in the company, valued at approximately $520,488.54. The trade was a 24.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Albert G. White III sold 114,992 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $110.53, for a total transaction of $12,710,065.76. Following the transaction, the chief executive officer now directly owns 165,273 shares in the company, valued at approximately $18,267,624.69. This represents a 41.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 256,373 shares of company stock valued at $27,637,427 in the last quarter. Corporate insiders own 2.00% of the company's stock.

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.