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

Point72 Asset Management L.P. cut its holdings in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 79.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 188,631 shares of the medical device company’s stock after selling 749,175 shares during the period. Point72 Asset Management L.P.’s holdings in Cooper Companies were worth $20,813,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of COO. Ashton Thomas Securities LLC acquired a new stake in Cooper Companies in the third quarter valued at approximately $25,000. Innealta Capital LLC acquired a new stake in shares of Cooper Companies in the 2nd quarter valued at $25,000. 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 purchasing an additional 200 shares during the last quarter. Crewe Advisors LLC lifted its position in shares of Cooper Companies by 286.4% during the 2nd 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. Finally, Tortoise Investment Management LLC increased its holdings in Cooper Companies by 75.4% in the second quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company’s stock valued at $34,000 after buying an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Cooper Companies Stock Down 1.7 %

COO opened at $103.23 on Friday. The Cooper Companies, Inc. has a 52 week low of $82.69 and a 52 week high of $112.38. The business has a 50 day moving average price of $104.84 and a two-hundred day moving average price of $98.74. The company has a quick ratio of 1.18, a current ratio of 1.99 and a debt-to-equity ratio of 0.33. The company has a market cap of $20.56 billion, a PE ratio of 57.35, a P/E/G ratio of 2.24 and a beta of 0.97.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings results on Thursday, December 5th. The medical device company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the business earned $0.87 earnings per share. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, research analysts anticipate that The Cooper Companies, Inc. will post 3.65 EPS for the current year.

Insider Transactions at Cooper Companies

In related news, CAO Agostino Ricupati sold 1,601 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $108.03, for a total value of $172,956.03. Following the completion of the transaction, the chief accounting officer now directly owns 4,818 shares of the company’s stock, valued at $520,488.54. This trade represents a 24.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Albert G. White III sold 114,992 shares of the firm’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 transaction, the chief executive officer now owns 165,273 shares of the company’s stock, 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. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on COO shares. Wells Fargo & Company lifted their price target 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 reaffirmed a “hold” rating on shares of Cooper Companies in a report on Wednesday, November 27th. Stifel Nicolaus reiterated a “buy” rating and issued a $115.00 price target (up from $110.00) on shares of Cooper Companies in a research note on Thursday, August 29th. 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 research report on Thursday, August 29th. Finally, Piper Sandler increased their target price 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. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Cooper Companies currently has an average rating of “Moderate Buy” and a consensus target price of $117.00.

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.