Westfield Capital Management Co. LP Cuts Holdings in The Cooper Companies, Inc. (NASDAQ:COO)

Westfield Capital Management Co. LP trimmed its position in The Cooper Companies, Inc. (NASDAQ:COO) by 17.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 545,844 shares of the medical device company’s stock after selling 113,177 shares during the period. Westfield Capital Management Co. LP owned about 0.27% of Cooper Companies worth $60,228,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Cooper Companies during the 2nd quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new stake in Cooper Companies in the 3rd quarter worth about $25,000. Crewe Advisors LLC raised its stake in 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 acquiring an additional 252 shares during the period. Tortoise Investment Management LLC lifted its holdings in Cooper Companies by 75.4% during the second quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 169 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of Cooper Companies by 144.9% in the third quarter. Covestor Ltd now owns 338 shares of the medical device company’s stock worth $37,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Cooper Companies Trading Up 0.9 %

NASDAQ COO opened at $100.80 on Monday. The firm has a market cap of $20.08 billion, a PE ratio of 56.16, a price-to-earnings-growth ratio of 2.17 and a beta of 0.99. The Cooper Companies, Inc. has a 1-year low of $82.21 and a 1-year high of $112.38. The stock has a 50-day moving average of $105.91 and a 200-day moving average of $98.34. The company has a current ratio of 1.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings results on Wednesday, August 28th. The medical device company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.05. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $997.30 million. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 EPS. As a group, sell-side analysts forecast that The Cooper Companies, Inc. will post 3.65 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 stock in a transaction 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 owns 4,818 shares in the company, valued at approximately $520,488.54. This represents a 24.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the chief executive officer now directly owns 165,273 shares of the company’s stock, valued at $18,267,624.69. This represents a 41.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 256,373 shares of company stock valued at $27,637,427. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Cooper Companies in a research note on Thursday, August 29th. Morgan Stanley lifted their price target on Cooper Companies from $95.00 to $104.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 10th. Wells Fargo & Company increased their price objective on Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. StockNews.com lowered Cooper Companies from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Piper Sandler boosted their price objective on shares of Cooper Companies from $115.00 to $120.00 and gave the company an “overweight” rating in a research note 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $117.00.

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.