Squarepoint Ops LLC Grows Stock Holdings in The Cooper Companies, Inc. (NASDAQ:COO)

Squarepoint Ops LLC lifted its stake in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 422.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 163,787 shares of the medical device company’s stock after purchasing an additional 132,464 shares during the period. Squarepoint Ops LLC’s holdings in Cooper Companies were worth $14,299,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in COO. Vanguard Group Inc. boosted its holdings in Cooper Companies by 303.0% in the 1st quarter. Vanguard Group Inc. now owns 23,099,975 shares of the medical device company’s stock valued at $2,343,723,000 after purchasing an additional 17,367,502 shares during the last quarter. Capital World Investors raised its position in shares of Cooper Companies by 301.7% during the 1st quarter. Capital World Investors now owns 5,654,023 shares of the medical device company’s stock valued at $573,657,000 after buying an additional 4,246,519 shares during the period. Janus Henderson Group PLC lifted its holdings in Cooper Companies by 279.8% in the first quarter. Janus Henderson Group PLC now owns 3,437,064 shares of the medical device company’s stock valued at $348,723,000 after acquiring an additional 2,532,186 shares during the last quarter. Bessemer Group Inc. grew its position in Cooper Companies by 305.2% in the first quarter. Bessemer Group Inc. now owns 2,000,910 shares of the medical device company’s stock worth $203,013,000 after acquiring an additional 1,507,049 shares during the period. Finally, Swedbank AB acquired a new stake in Cooper Companies during the first quarter worth $139,246,000. Institutional investors and hedge funds own 24.39% of the company’s stock.

Cooper Companies Price Performance

COO stock opened at $109.78 on Friday. The business’s 50-day moving average is $99.84 and its two-hundred day moving average is $95.81. 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 firm has a market capitalization of $21.86 billion, a P/E ratio of 64.58, a P/E/G ratio of 2.63 and a beta of 0.98. The Cooper Companies, Inc. has a 1 year low of $75.93 and a 1 year high of $112.38.

Cooper Companies (NASDAQ:COO) last issued 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 net margin of 9.45% and a return on equity of 9.08%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $997.30 million. During the same quarter last year, the company earned $0.84 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. Analysts anticipate that The Cooper Companies, Inc. will post 3.65 earnings per share for the current fiscal year.

Insider Transactions at Cooper Companies

In related news, COO Daniel G. Mcbride sold 114,992 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $105.48, for a total value of $12,129,356.16. Following the transaction, the chief operating officer now owns 44,696 shares of the company’s stock, valued at $4,714,534.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Agostino Ricupati sold 1,601 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $108.03, for a total value of $172,956.03. Following the transaction, the chief accounting officer now directly owns 4,818 shares of the company’s stock, valued at approximately $520,488.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Daniel G. Mcbride sold 114,992 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $105.48, for a total transaction of $12,129,356.16. Following the completion of the sale, the chief operating officer now directly owns 44,696 shares of the company’s stock, valued at $4,714,534.08. The disclosure for this sale can be found here. In the last three months, insiders sold 256,373 shares of company stock valued at $27,637,427. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on COO. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a research note on Thursday, August 29th. Morgan Stanley increased their target price on shares of Cooper Companies from $95.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 10th. Wells Fargo & Company boosted 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. Piper Sandler increased their price objective 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, Stifel Nicolaus reiterated a “buy” rating and issued a $115.00 target price (up previously from $110.00) on shares of Cooper Companies in a 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 stock. According to data from MarketBeat, Cooper Companies currently has a consensus rating of “Moderate Buy” and an average price target of $115.00.

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.