Sumitomo Mitsui Trust Group Inc. Grows Position in The Cooper Companies, Inc. (NASDAQ:COO)

Sumitomo Mitsui Trust Group Inc. raised its position in The Cooper Companies, Inc. (NASDAQ:COO) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 443,863 shares of the medical device company’s stock after purchasing an additional 6,489 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Cooper Companies worth $48,976,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in COO. Quent Capital LLC grew its holdings in shares of Cooper Companies by 300.0% in the first quarter. Quent Capital LLC now owns 828 shares of the medical device company’s stock worth $84,000 after purchasing an additional 621 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Cooper Companies during the first quarter worth approximately $256,000. QRG Capital Management Inc. bought a new stake in shares of Cooper Companies during the first quarter valued at approximately $481,000. ProShare Advisors LLC boosted its holdings in shares of Cooper Companies by 291.2% in the first quarter. ProShare Advisors LLC now owns 26,818 shares of the medical device company’s stock valued at $2,721,000 after purchasing an additional 19,963 shares during the period. Finally, Bleakley Financial Group LLC grew its stake in Cooper Companies by 346.3% in the first quarter. Bleakley Financial Group LLC now owns 5,373 shares of the medical device company’s stock worth $545,000 after purchasing an additional 4,169 shares in the last quarter. Institutional investors own 24.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on COO. Robert W. Baird upped their target price on Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. StockNews.com raised Cooper Companies from a “hold” rating to a “buy” rating in a research report on Thursday. Piper Sandler lifted their target price on Cooper Companies from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Stifel Nicolaus reissued a “buy” rating and set a $115.00 price target (up from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a research report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.00.

Cooper Companies Price Performance

Shares of COO opened at $99.63 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.99 and a quick ratio of 1.18. The company’s fifty day moving average price is $106.83 and its 200-day moving average price is $97.93. The Cooper Companies, Inc. has a 1-year low of $82.21 and a 1-year high of $112.38. The firm has a market capitalization of $19.84 billion, a PE ratio of 55.50, a price-to-earnings-growth ratio of 2.20 and a beta of 0.99.

Cooper Companies (NASDAQ:COO) last announced its quarterly earnings data on Wednesday, August 28th. The medical device company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.05. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $997.30 million. During the same period in the prior year, the company earned $0.84 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. On average, equities research analysts predict that The Cooper Companies, Inc. will post 3.65 EPS for the current year.

Insider Buying and Selling at Cooper Companies

In related news, COO Daniel G. Mcbride sold 114,992 shares of the business’s stock in a transaction on 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 $4,714,534.08. The trade was a 72.01 % decrease in their position. 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 company’s 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 transaction, the chief accounting officer now owns 4,818 shares of the company’s stock, valued at approximately $520,488.54. This trade represents a 24.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 256,373 shares of company stock worth $27,637,427. Company insiders own 2.00% of the company’s stock.

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.