The Cooper Companies, Inc. (NASDAQ:COO) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP lowered its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 27.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,649 shares of the medical device company’s stock after selling 11,319 shares during the period. Bridgewater Associates LP’s holdings in Cooper Companies were worth $3,382,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC raised its stake in Cooper Companies by 3.0% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,820,590 shares of the medical device company’s stock worth $682,738,000 after acquiring an additional 231,155 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Cooper Companies by 23.0% in 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 purchasing an additional 737,726 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in shares of Cooper Companies by 31.0% during the second quarter. Impax Asset Management Group plc now owns 2,359,798 shares of the medical device company’s stock worth $205,511,000 after purchasing an additional 558,886 shares during the period. Champlain Investment Partners LLC boosted its position in Cooper Companies by 8.0% in the third quarter. Champlain Investment Partners LLC now owns 1,818,345 shares of the medical device company’s stock valued at $200,636,000 after buying an additional 134,875 shares during the last quarter. Finally, Swedbank AB increased its holdings in Cooper Companies by 16.6% in the 2nd quarter. Swedbank AB now owns 1,600,420 shares of the medical device company’s stock worth $139,717,000 after buying an additional 228,000 shares during the period. 24.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on COO. Wells Fargo & Company lifted their price objective on shares of Cooper Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Morgan Stanley boosted their target price on shares of Cooper Companies from $95.00 to $104.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 10th. Stifel Nicolaus reaffirmed a “buy” rating and set a $115.00 price target (up from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. Robert W. Baird boosted their price objective on Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Piper Sandler raised their target price on Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a 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. Based on data from MarketBeat, Cooper Companies currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.00.

Cooper Companies Stock Up 1.0 %

Cooper Companies stock opened at $104.46 on Friday. The business has a 50 day simple moving average of $105.18 and a 200-day simple moving average of $98.60. The Cooper Companies, Inc. has a 12 month low of $82.21 and a 12 month high of $112.38. The stock has a market capitalization of $20.80 billion, a PE ratio of 58.19, a price-to-earnings-growth ratio of 2.24 and a beta of 0.99. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.99 and a quick ratio of 1.18.

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

Insider Activity at Cooper Companies

In other news, CFO Brian G. Andrews sold 24,788 shares of the company’s stock in a transaction 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 $700,422.60. This represents a 78.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Daniel G. Mcbride sold 114,992 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 44,696 shares in the company, valued at approximately $4,714,534.08. This represents a 72.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 256,373 shares of company stock valued at $27,637,427. 2.00% of the stock is owned by corporate insiders.

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.