Eagle Asset Management Inc. Takes Position in The Cooper Companies, Inc. (NASDAQ:COO)

Eagle Asset Management Inc. bought a new stake in The Cooper Companies, Inc. (NASDAQ:COO) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 25,243 shares of the medical device company’s stock, valued at approximately $2,619,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in COO. Swedbank AB acquired a new position in Cooper Companies during the first quarter worth $139,246,000. Point72 Asset Management L.P. grew its holdings in shares of Cooper Companies by 480.1% during the second quarter. Point72 Asset Management L.P. now owns 937,806 shares of the medical device company’s stock valued at $81,870,000 after buying an additional 776,140 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Cooper Companies by 23.0% during the third quarter. Victory Capital Management Inc. now owns 3,950,119 shares of the medical device company’s stock worth $435,856,000 after acquiring an additional 737,726 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of Cooper Companies in the 2nd quarter worth about $63,822,000. Finally, TD Asset Management Inc bought a new position in Cooper Companies in the 2nd quarter valued at about $53,045,000. 24.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cooper Companies news, COO Daniel G. Mcbride sold 114,992 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $105.48, for a total transaction of $12,129,356.16. Following the sale, the chief operating officer now owns 44,696 shares in the company, valued at $4,714,534.08. This represents a 72.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brian G. Andrews sold 24,788 shares of Cooper Companies stock in a transaction on Thursday, September 5th. The shares were 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 approximately $700,422.60. This trade represents a 78.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 256,373 shares of company stock worth $27,637,427 over the last quarter. 2.00% of the stock is currently owned by company insiders.

Cooper Companies Price Performance

Shares of NASDAQ COO opened at $102.40 on Tuesday. 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 stock has a fifty day simple moving average of $105.74 and a two-hundred day simple moving average of $98.39. The Cooper Companies, Inc. has a 1-year low of $82.21 and a 1-year high of $112.38. The firm has a market cap of $20.39 billion, a price-to-earnings ratio of 57.05, a price-to-earnings-growth ratio of 2.17 and a beta of 0.99.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings results 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 return on equity of 9.08% and a net margin of 9.45%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $997.30 million. During the same quarter in the prior year, the company earned $0.84 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts anticipate that The Cooper Companies, Inc. will post 3.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on COO. Wells Fargo & Company increased their price objective on Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Stifel Nicolaus reissued a “buy” rating and issued a $115.00 price target (up from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. StockNews.com downgraded shares of Cooper Companies from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Morgan Stanley increased their target price on shares of Cooper Companies from $95.00 to $104.00 and gave the company an “equal weight” rating in a report on Tuesday, September 10th. Finally, Piper Sandler raised their price target on shares of Cooper Companies from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Cooper Companies currently has an average rating of “Moderate Buy” and a consensus target price 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.