The Cooper Companies, Inc. (NASDAQ:COO) Stake Raised by Empowered Funds LLC

Empowered Funds LLC boosted its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 8.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,086 shares of the medical device company’s stock after acquiring an additional 248 shares during the quarter. Empowered Funds LLC’s holdings in Cooper Companies were worth $341,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. grew its holdings in Cooper Companies by 43.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 35,233 shares of the medical device company’s stock worth $3,076,000 after acquiring an additional 10,616 shares during the period. Diversify Advisory Services LLC acquired a new stake in shares of Cooper Companies during the second quarter valued at approximately $501,000. BDF Gestion purchased a new stake in shares of Cooper Companies in the second quarter valued at $2,919,000. Assenagon Asset Management S.A. raised its position in Cooper Companies by 30.9% during the second quarter. Assenagon Asset Management S.A. now owns 535,909 shares of the medical device company’s stock valued at $46,785,000 after buying an additional 126,371 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of Cooper Companies by 23.0% in 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 period. 24.39% of the stock is currently owned by institutional investors.

Cooper Companies Stock Performance

NASDAQ:COO opened at $102.40 on Tuesday. The firm has a market capitalization of $20.39 billion, a PE ratio of 57.05, a PEG ratio of 2.17 and a beta of 0.99. 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 Cooper Companies, Inc. has a 1 year low of $82.21 and a 1 year high of $112.38. The firm’s fifty day simple moving average is $105.74 and its 200 day simple moving average is $98.39.

Cooper Companies (NASDAQ:COO) last issued 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. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $997.30 million. During the same period last year, the business posted $0.84 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts anticipate that The Cooper Companies, Inc. will post 3.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on COO shares. StockNews.com lowered shares of Cooper Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Morgan Stanley lifted their price objective on Cooper Companies from $95.00 to $104.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 10th. Robert W. Baird upped their target price on Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Stifel Nicolaus reiterated a “buy” rating and set a $115.00 price target (up from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. Finally, Piper Sandler boosted their price target on Cooper Companies from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.00.

Insiders Place Their Bets

In other Cooper Companies news, CFO Brian G. Andrews sold 24,788 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 6,614 shares of the company’s stock, valued at $700,422.60. This represents a 78.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Daniel G. Mcbride sold 114,992 shares of Cooper Companies stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $105.48, for a total value of $12,129,356.16. Following the sale, the chief operating officer now directly owns 44,696 shares in the company, valued at $4,714,534.08. The trade was a 72.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 256,373 shares of company stock valued at $27,637,427 in the last three months. Company insiders own 2.00% of the company’s stock.

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.