LMR Partners LLP Increases Holdings in The Cooper Companies, Inc. (NASDAQ:COO)

LMR Partners LLP boosted its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 23.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,744 shares of the medical device company’s stock after buying an additional 10,330 shares during the quarter. LMR Partners LLP’s holdings in Cooper Companies were worth $6,040,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COO. Innealta Capital LLC acquired a new stake in shares of Cooper Companies during the 2nd quarter worth $25,000. Ashton Thomas Securities LLC purchased a new stake in Cooper Companies during the 3rd quarter worth $25,000. Covestor Ltd boosted its position 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 period. Crewe Advisors LLC boosted its position in Cooper Companies by 286.4% during the 2nd quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock worth $30,000 after purchasing an additional 252 shares during the period. Finally, Tortoise Investment Management LLC boosted its position in Cooper Companies by 75.4% during the 2nd 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 during the period. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Cooper Companies Stock Down 0.2 %

Shares of COO stock opened at $99.48 on Tuesday. The company has a market capitalization of $19.81 billion, a price-to-earnings ratio of 55.42, a P/E/G ratio of 2.15 and a beta of 0.99. The Cooper Companies, Inc. has a 12-month low of $82.21 and a 12-month high of $112.38. The firm has a fifty day moving average of $106.66 and a 200-day moving average of $98.12. 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 announced 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 firm had revenue of $1 billion during the quarter, compared to analysts’ expectations 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 last year, the company posted $0.84 earnings per share. As a group, equities research analysts predict that The Cooper Companies, Inc. will post 3.65 earnings per share for the current fiscal year.

Insider Transactions at Cooper Companies

In other Cooper Companies news, CFO Brian G. Andrews sold 24,788 shares of Cooper Companies stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $105.90, for a total value 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. The trade was a 78.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Albert G. White III sold 114,992 shares of Cooper Companies stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $110.53, for a total transaction of $12,710,065.76. Following the completion of the sale, the chief executive officer now owns 165,273 shares of the company’s stock, valued at $18,267,624.69. This trade represents a 41.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 256,373 shares of company stock worth $27,637,427. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on COO shares. Robert W. Baird upped their price target on shares of Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a research report on Thursday, August 29th. Morgan Stanley upped their price objective on shares of Cooper Companies from $95.00 to $104.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 10th. Piper Sandler upped their price objective on shares of Cooper Companies from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $115.00 price objective (up from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.