Massachusetts Financial Services Co. MA Decreases Position in The Cooper Companies, Inc. (NASDAQ:COO)

Massachusetts Financial Services Co. MA reduced its stake in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 6.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,061,709 shares of the medical device company’s stock after selling 151,610 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Cooper Companies were worth $179,987,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COO. Benjamin F. Edwards & Company Inc. boosted its position in Cooper Companies by 248.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the medical device company’s stock valued at $25,000 after buying an additional 174 shares during the last quarter. Innealta Capital LLC acquired a new stake in Cooper Companies during the 2nd quarter valued at approximately $25,000. Covestor Ltd increased its holdings in Cooper Companies by 305.9% during the 1st quarter. Covestor Ltd now owns 276 shares of the medical device company’s stock worth $28,000 after purchasing an additional 208 shares during the last quarter. Crewe Advisors LLC raised its position in shares of Cooper Companies by 286.4% in the 2nd quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 252 shares in the last quarter. Finally, Tortoise Investment Management LLC boosted its stake in shares of Cooper Companies by 75.4% during the 2nd 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. 24.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on COO shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a report on Thursday, August 29th. Robert W. Baird upped their target price on shares of Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. 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 research note on Thursday, August 29th. Stifel Nicolaus restated a “buy” rating and set a $115.00 price objective (up previously from $110.00) on shares of Cooper Companies in a research note on Thursday, August 29th. Finally, Jefferies Financial Group upgraded Cooper Companies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $107.00 to $115.00 in a research report on Tuesday, July 16th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $115.00.

Cooper Companies Trading Down 1.3 %

Shares of NASDAQ COO opened at $109.83 on Wednesday. The Cooper Companies, Inc. has a 12-month low of $75.93 and a 12-month high of $112.38. The company has a market cap of $21.87 billion, a price-to-earnings ratio of 64.61, a price-to-earnings-growth ratio of 2.60 and a beta of 0.98. 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’s 50 day simple moving average is $96.10 and its 200 day simple moving average is $95.21.

Cooper Companies (NASDAQ:COO) last posted its earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.05. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $997.30 million. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business posted $0.84 earnings per share. Equities research analysts expect that The Cooper Companies, Inc. will post 3.66 EPS for the current year.

Insider Buying and Selling at Cooper Companies

In other Cooper Companies news, CAO Agostino Ricupati sold 1,601 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $108.03, for a total value of $172,956.03. Following the sale, the chief accounting officer now owns 4,818 shares in the company, valued at $520,488.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Brian G. Andrews sold 24,788 shares of the stock in a transaction on Thursday, September 5th. The stock was 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 $700,422.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Agostino Ricupati sold 1,601 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $108.03, for a total value of $172,956.03. Following the transaction, the chief accounting officer now directly owns 4,818 shares in the company, valued at $520,488.54. The disclosure for this sale can be found here. Insiders sold 141,381 shares of company stock valued at $14,927,361 in the last ninety days. Company insiders own 2.00% of the company’s stock.

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.