Veritas Asset Management LLP Decreases Stock Holdings in The Cooper Companies, Inc. (NASDAQ:COO)

Veritas Asset Management LLP lowered its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,409,878 shares of the medical device company’s stock after selling 70,571 shares during the quarter. Cooper Companies accounts for 3.6% of Veritas Asset Management LLP’s portfolio, making the stock its 14th largest position. Veritas Asset Management LLP owned about 2.21% of Cooper Companies worth $486,586,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Janney Montgomery Scott LLC lifted its stake in shares of Cooper Companies by 0.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 100,222 shares of the medical device company’s stock valued at $11,058,000 after buying an additional 485 shares in the last quarter. Stephens Inc. AR raised its holdings in Cooper Companies by 16.9% during the third quarter. Stephens Inc. AR now owns 3,570 shares of the medical device company’s stock valued at $394,000 after acquiring an additional 516 shares during the period. Cigna Investments Inc. New purchased a new position in shares of Cooper Companies in the third quarter valued at about $225,000. Diversify Wealth Management LLC boosted its stake in shares of Cooper Companies by 7.3% in the third quarter. Diversify Wealth Management LLC now owns 13,909 shares of the medical device company’s stock worth $1,465,000 after acquiring an additional 941 shares during the period. Finally, Fidelis Capital Partners LLC grew its position in shares of Cooper Companies by 6.1% during the third quarter. Fidelis Capital Partners LLC now owns 2,855 shares of the medical device company’s stock worth $301,000 after purchasing an additional 164 shares in the last quarter. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on COO. Jefferies Financial Group upgraded Cooper Companies from a “hold” rating to a “buy” rating and upped their price target for the stock from $107.00 to $115.00 in a research note on Tuesday, July 16th. Morgan Stanley lifted their price target 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. Wells Fargo & Company increased their price objective 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 raised their price objective on Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, Piper Sandler boosted their target price on Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.00.

Insider Buying and Selling

In other news, COO Daniel G. Mcbride sold 114,992 shares of the stock in a transaction that occurred 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 directly owns 44,696 shares in the company, valued at approximately $4,714,534.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Cooper Companies news, COO Daniel G. Mcbride sold 114,992 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $105.48, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brian G. Andrews sold 24,788 shares of the firm’s stock in a transaction dated 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 in the company, valued at $700,422.60. This represents a 0.00 % decrease in their ownership of the stock. 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 over the last three months. 2.00% of the stock is owned by company insiders.

Cooper Companies Trading Up 1.1 %

COO stock traded up $1.17 during trading on Friday, hitting $105.85. The company had a trading volume of 715,874 shares, compared to its average volume of 1,170,169. The Cooper Companies, Inc. has a 52-week low of $78.63 and a 52-week high of $112.38. The company has a 50 day simple moving average of $106.78 and a 200-day simple moving average of $97.06. The firm has a market capitalization of $21.08 billion, a P/E ratio of 58.97, a PEG ratio of 2.51 and a beta of 0.99. The company has a quick ratio of 1.18, a current ratio of 1.99 and a debt-to-equity ratio of 0.33.

Cooper Companies (NASDAQ:COO) last issued 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 for the quarter, compared to analyst estimates of $997.30 million. During the same period last year, the company posted $0.84 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, research analysts forecast that The Cooper Companies, Inc. will post 3.65 earnings per share for the current fiscal year.

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.