Intech Investment Management LLC Trims Holdings in The Cooper Companies, Inc. (NASDAQ:COO)

Intech Investment Management LLC reduced its stake in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 81.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,469 shares of the medical device company’s stock after selling 32,228 shares during the quarter. Intech Investment Management LLC’s holdings in Cooper Companies were worth $824,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in COO. Innealta Capital LLC bought a new stake in Cooper Companies during the 2nd quarter valued at about $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Cooper Companies during the third quarter valued at approximately $25,000. Crewe Advisors LLC boosted its holdings in shares of Cooper Companies by 286.4% in the second 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 during the period. Tortoise Investment Management LLC grew its stake 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 worth $34,000 after purchasing an additional 169 shares in the last quarter. Finally, Covestor Ltd increased its holdings in 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 period. 24.39% of the stock is currently owned by institutional investors.

Cooper Companies Trading Up 0.8 %

Cooper Companies stock opened at $103.43 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.99. The stock has a market cap of $20.60 billion, a PE ratio of 57.46, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The stock has a 50-day moving average of $105.45 and a two-hundred day moving average of $98.48. The Cooper Companies, Inc. has a one year low of $82.21 and a one year high of $112.38.

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

Insider Buying and Selling at Cooper Companies

In related news, CAO Agostino Ricupati sold 1,601 shares of Cooper Companies stock in a transaction dated Tuesday, September 10th. The stock was 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 24.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Daniel G. Mcbride sold 114,992 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 44,696 shares of the company’s stock, valued at $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 quarter, insiders have sold 256,373 shares of company stock worth $27,637,427. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

COO has been the topic of a number of recent research reports. Wells Fargo & Company increased their price target on Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Morgan Stanley boosted 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. Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a research note on Wednesday. Stifel Nicolaus reissued a “buy” rating and set a $115.00 price objective (up from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. Finally, Piper Sandler upped 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 equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $117.00.

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.