Massachusetts Financial Services Co. MA Lowers Position in The Cooper Companies, Inc. (NASDAQ:COO)

Massachusetts Financial Services Co. MA trimmed its position in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 6.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,061,709 shares of the medical device company’s stock after selling 151,610 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.04% of Cooper Companies worth $179,987,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina lifted its holdings in Cooper Companies by 0.9% in the fourth quarter. Treasurer of the State of North Carolina now owns 22,861 shares of the medical device company’s stock valued at $8,652,000 after acquiring an additional 212 shares during the period. Hsbc Holdings PLC boosted its holdings in Cooper Companies by 55.3% during the fourth quarter. Hsbc Holdings PLC now owns 87,718 shares of the medical device company’s stock worth $33,188,000 after buying an additional 31,234 shares in the last quarter. Quantbot Technologies LP purchased a new position in Cooper Companies in the first quarter valued at about $2,211,000. Whittier Trust Co. lifted its position in shares of Cooper Companies by 298.9% during the 1st quarter. Whittier Trust Co. now owns 11,940 shares of the medical device company’s stock valued at $1,211,000 after acquiring an additional 8,947 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of Cooper Companies by 43.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 35,233 shares of the medical device company’s stock worth $3,076,000 after acquiring an additional 10,616 shares in the last quarter. 24.39% of the stock is owned by hedge funds and other institutional investors.

Cooper Companies Trading Down 1.3 %

Shares of COO opened at $109.83 on Wednesday. The Cooper Companies, Inc. has a fifty-two week low of $75.93 and a fifty-two week high of $112.38. The stock has a fifty day moving average of $96.10 and a two-hundred day moving average of $95.21. 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 company has a market capitalization of $21.87 billion, a PE ratio of 64.61, a price-to-earnings-growth ratio of 2.60 and a beta of 0.98.

Cooper Companies (NASDAQ:COO) last released its earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share for the quarter, topping 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 return on equity of 9.08% and a net margin of 9.45%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 earnings per share. As a group, analysts forecast that The Cooper Companies, Inc. will post 3.66 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on COO. Robert W. Baird lifted their price objective on Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Wells Fargo & Company lifted their price target on Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Stifel Nicolaus restated a “buy” rating and set a $115.00 target price (up from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. Piper Sandler lifted their target price on shares of Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Morgan Stanley increased their price target 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. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Cooper Companies has an average rating of “Moderate Buy” and a consensus price target of $115.00.

Insider Activity at Cooper Companies

In other Cooper Companies news, CAO Agostino Ricupati sold 1,601 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $108.03, for a total transaction of $172,956.03. Following the transaction, the chief accounting officer now owns 4,818 shares of the company’s stock, valued at $520,488.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Cooper Companies news, 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 sale, the chief accounting officer now directly owns 4,818 shares in the company, valued at $520,488.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian G. Andrews sold 24,788 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $105.90, for a total value of $2,625,049.20. Following the sale, the chief financial officer now owns 6,614 shares of the company’s stock, valued at approximately $700,422.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 141,381 shares of company stock worth $14,927,361. 2.00% of the stock is owned by company insiders.

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.