Quarry LP Trims Holdings in The Cooper Companies, Inc. (NASDAQ:COO)

Quarry LP reduced its holdings in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 56.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,175 shares of the medical device company’s stock after selling 1,543 shares during the period. Quarry LP’s holdings in Cooper Companies were worth $130,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Cooper Companies by 43.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 35,233 shares of the medical device company’s stock worth $3,076,000 after buying an additional 10,616 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in shares of Cooper Companies in the 2nd quarter valued at approximately $501,000. Assenagon Asset Management S.A. increased its holdings in shares of Cooper Companies by 30.9% in the second quarter. Assenagon Asset Management S.A. now owns 535,909 shares of the medical device company’s stock valued at $46,785,000 after purchasing an additional 126,371 shares during the period. Victory Capital Management Inc. raised its stake in shares of Cooper Companies by 23.0% during the third quarter. Victory Capital Management Inc. now owns 3,950,119 shares of the medical device company’s stock worth $435,856,000 after purchasing an additional 737,726 shares during the last quarter. Finally, OLD National Bancorp IN acquired a new stake in shares of Cooper Companies during the second quarter worth $531,000. 24.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Agostino Ricupati sold 1,601 shares of the company’s 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 directly 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 SEC, which can be accessed through the SEC website. Also, CEO Albert G. White III sold 114,992 shares of the stock in a transaction dated Thursday, September 19th. The stock was 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 owns 165,273 shares in the company, valued at $18,267,624.69. This trade represents a 41.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Cooper Companies Trading Down 4.4 %

Shares of COO opened at $98.70 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 Cooper Companies, Inc. has a 1-year low of $82.69 and a 1-year high of $112.38. The stock has a market cap of $19.66 billion, a price-to-earnings ratio of 54.83, a price-to-earnings-growth ratio of 2.24 and a beta of 0.97. The firm has a 50 day simple moving average of $104.49 and a 200-day simple moving average of $98.79.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings results on Thursday, December 5th. The medical device company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the business posted $0.87 earnings per share. Cooper Companies’s revenue was up 9.8% compared to the same quarter last year. Equities analysts forecast that The Cooper Companies, Inc. will post 3.65 EPS for the current fiscal year.

Analysts Set New Price Targets

COO has been the topic of a number of recent analyst reports. Piper Sandler boosted their price target on shares of Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Robert W. Baird boosted their target price on 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 restated a “hold” rating on shares of Cooper Companies in a research note on Friday. Stifel Nicolaus reiterated a “buy” rating and issued a $115.00 price objective (up previously from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. Finally, Morgan Stanley decreased their target price on shares of Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Friday. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Cooper Companies presently has a consensus rating of “Moderate Buy” and an average price target 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.