Mercer Global Advisors Inc. ADV Decreases Position in The Cooper Companies, Inc. (NASDAQ:COO)

Mercer Global Advisors Inc. ADV lowered its stake in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 6.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,040 shares of the medical device company’s stock after selling 787 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Cooper Companies were worth $1,051,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Mutual of America Capital Management LLC purchased a new position in Cooper Companies in the second quarter worth approximately $2,186,000. Citizens Financial Group Inc. RI lifted its position in shares of Cooper Companies by 9.0% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 5,900 shares of the medical device company’s stock worth $515,000 after purchasing an additional 488 shares during the last quarter. Quantbot Technologies LP grew its stake in shares of Cooper Companies by 152.8% during the second quarter. Quantbot Technologies LP now owns 55,085 shares of the medical device company’s stock worth $4,809,000 after purchasing an additional 33,298 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Cooper Companies by 12.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,341,944 shares of the medical device company’s stock valued at $117,156,000 after buying an additional 148,500 shares during the last quarter. Finally, Plato Investment Management Ltd acquired a new stake in Cooper Companies in the second quarter valued at $334,000. 24.39% of the stock is currently owned by institutional investors and hedge funds.

Cooper Companies Stock Performance

NASDAQ COO opened at $108.41 on Thursday. The firm has a market cap of $21.59 billion, a P/E ratio of 63.68, a P/E/G ratio of 2.63 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. The business’s 50-day moving average price is $99.10 and its 200 day moving average price is $95.65. 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 earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.05. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $997.30 million. During the same period last year, the business posted $0.84 EPS. The company’s revenue was up 7.8% on a year-over-year basis. On average, equities research analysts expect that The Cooper Companies, Inc. will post 3.65 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Agostino Ricupati sold 1,601 shares of the firm’s 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 sale, the chief accounting officer now owns 4,818 shares in the company, valued at $520,488.54. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Cooper Companies news, CEO Albert G. White III sold 114,992 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $110.53, for a total transaction of $12,710,065.76. Following the sale, the chief executive officer now directly owns 165,273 shares in the company, valued at approximately $18,267,624.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 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. The disclosure for this sale can be found here. In the last quarter, insiders sold 256,373 shares of company stock worth $27,637,427. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on COO. Morgan Stanley upped their price objective on Cooper Companies from $95.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 10th. Wells Fargo & Company increased their price target on shares of Cooper Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Robert W. Baird boosted their price objective 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. Stifel Nicolaus reaffirmed a “buy” rating and issued a $115.00 target price (up from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. Finally, Piper Sandler boosted their price target 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. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $115.00.

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.