Citizens Financial Group Inc. RI Raises Position in The Cooper Companies, Inc. (NASDAQ:COO)

Citizens Financial Group Inc. RI increased its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 9.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,900 shares of the medical device company’s stock after acquiring an additional 488 shares during the period. Citizens Financial Group Inc. RI’s holdings in Cooper Companies were worth $515,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brown Advisory Inc. purchased a new stake in shares of Cooper Companies during the fourth quarter worth approximately $243,000. ING Groep NV raised its holdings in shares of Cooper Companies by 3,766.7% in the 4th quarter. ING Groep NV now owns 580 shares of the medical device company’s stock valued at $220,000 after purchasing an additional 565 shares in the last quarter. Norges Bank purchased a new stake in shares of Cooper Companies during the 4th quarter worth $196,045,000. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Cooper Companies by 34.4% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,322 shares of the medical device company’s stock worth $879,000 after purchasing an additional 594 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Cooper Companies by 1.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 21,385 shares of the medical device company’s stock valued at $8,093,000 after buying an additional 346 shares during the last quarter. 24.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on COO shares. Jefferies Financial Group raised Cooper Companies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $107.00 to $115.00 in a research report on Tuesday, July 16th. Piper Sandler increased their price target 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. Morgan Stanley boosted their price objective on shares of Cooper Companies from $95.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 10th. Robert W. Baird lifted their price target on shares of Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cooper Companies in a research note on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cooper Companies currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.00.

Cooper Companies Stock Performance

Shares of COO stock opened at $110.53 on Thursday. The stock’s 50-day moving average price is $96.59 and its 200 day moving average price is $95.27. The company has a quick ratio of 1.18, a current ratio of 1.99 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $22.01 billion, a PE ratio of 65.02, a price-to-earnings-growth ratio of 2.60 and a beta of 0.98. The Cooper Companies, Inc. has a 52-week low of $75.93 and a 52-week high of $112.38.

Cooper Companies (NASDAQ:COO) last released its earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share (EPS) 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 quarter in the previous year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities research analysts forecast that The Cooper Companies, Inc. will post 3.66 EPS for the current year.

Insider Activity

In related news, CFO Brian G. Andrews sold 24,788 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $105.90, for a total transaction of $2,625,049.20. Following the completion of the transaction, the chief financial officer now directly owns 6,614 shares of the company’s stock, valued at $700,422.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Agostino Ricupati sold 1,601 shares of the stock in a transaction dated Tuesday, September 10th. The shares were 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $2,625,049.20. Following the sale, the chief financial officer now directly owns 6,614 shares in the company, valued at approximately $700,422.60. The disclosure for this sale can be found here. Insiders have sold a total of 141,381 shares of company stock valued at $14,927,361 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Cooper Companies 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.