Covea Finance Boosts Stock Position in The Cooper Companies, Inc. (NASDAQ:COO)

Covea Finance boosted its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 33.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,000 shares of the medical device company’s stock after buying an additional 8,000 shares during the period. Covea Finance’s holdings in Cooper Companies were worth $3,531,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of COO. V Square Quantitative Management LLC lifted its holdings in Cooper Companies by 24.6% in the fourth quarter. V Square Quantitative Management LLC now owns 1,094 shares of the medical device company’s stock worth $414,000 after buying an additional 216 shares during the period. Syon Capital LLC purchased a new position in shares of Cooper Companies during the fourth quarter valued at approximately $218,000. EP Wealth Advisors LLC purchased a new position in shares of Cooper Companies during the fourth quarter valued at approximately $406,000. American International Group Inc. lifted its holdings in shares of Cooper Companies by 1.0% during the fourth quarter. American International Group Inc. now owns 13,229 shares of the medical device company’s stock valued at $5,006,000 after purchasing an additional 137 shares during the last quarter. Finally, Congress Asset Management Co. MA lifted its holdings in shares of Cooper Companies by 12.4% during the fourth quarter. Congress Asset Management Co. MA now owns 358,581 shares of the medical device company’s stock valued at $135,701,000 after purchasing an additional 39,653 shares during the last quarter. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on COO shares. Wells Fargo & Company lifted their target price on shares of Cooper Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Robert W. Baird lifted their target price on shares of Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a report on Thursday, August 29th. Morgan Stanley raised their price target 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. 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. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $115.00.

Insider Activity

In other news, CAO Agostino Ricupati sold 1,601 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $108.03, for a total transaction of $172,956.03. Following the completion of the sale, the chief accounting officer now owns 4,818 shares of the company’s stock, valued at $520,488.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO Daniel G. Mcbride sold 114,992 shares of Cooper Companies stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $105.48, for a total transaction of $12,129,356.16. Following the transaction, the chief operating officer now owns 44,696 shares in the company, valued at approximately $4,714,534.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Agostino Ricupati sold 1,601 shares of Cooper Companies stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $108.03, for a total transaction of $172,956.03. Following the transaction, the chief accounting officer now owns 4,818 shares in the company, valued at approximately $520,488.54. This trade represents a 0.00 % 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 90 days. Company insiders own 2.00% of the company’s stock.

Cooper Companies Stock Performance

NASDAQ:COO traded up $0.44 during trading hours on Friday, reaching $106.74. The company had a trading volume of 892,665 shares, compared to its average volume of 1,113,621. 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 52 week low of $75.93 and a 52 week high of $112.38. The firm has a market cap of $21.26 billion, a price-to-earnings ratio of 59.47, a PEG ratio of 2.56 and a beta of 0.98. The firm’s 50 day moving average price is $102.73 and its 200-day moving average price is $96.20.

Cooper Companies (NASDAQ:COO) last posted its earnings results on Wednesday, August 28th. The medical device company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $997.30 million. During the same quarter in the previous year, the firm posted $0.84 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. On average, analysts forecast that The Cooper Companies, Inc. will post 3.65 EPS for the current year.

Cooper Companies Company 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.