Graypoint LLC Takes $233,000 Position in The Cooper Companies, Inc. (NASDAQ:COO)

Graypoint LLC purchased a new position in shares of The Cooper Companies, Inc. (NASDAQ:COO) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,111 shares of the medical device company’s stock, valued at approximately $233,000.

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

Cooper Companies Stock Up 0.4 %

Shares of Cooper Companies stock opened at $103.75 on Friday. The Cooper Companies, Inc. has a 1 year low of $80.48 and a 1 year high of $112.38. The company has a market cap of $20.66 billion, a P/E ratio of 57.80, a P/E/G ratio of 2.24 and a beta of 0.99. The company has a current ratio of 1.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average price of $107.30 and a 200 day moving average price of $97.58.

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, topping analysts’ consensus estimates of $0.91 by $0.05. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $997.30 million. During the same quarter in the prior year, the firm earned $0.84 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. As a group, analysts expect that The Cooper Companies, Inc. will post 3.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on COO. Piper Sandler raised their target price on Cooper Companies from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Robert W. Baird lifted their price objective on shares of Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating 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 company an “equal weight” rating in a research report 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 stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a report on Thursday, August 29th. Three 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 an average rating of “Moderate Buy” and a consensus price target of $117.00.

Insider Activity at Cooper Companies

In related news, CAO Agostino Ricupati sold 1,601 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 4,818 shares in the company, valued at approximately $520,488.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Albert G. White III sold 114,992 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $110.53, for a total transaction of $12,710,065.76. Following the completion of the transaction, the chief executive officer now directly owns 165,273 shares in the company, valued at $18,267,624.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Agostino Ricupati sold 1,601 shares of the company’s stock in a transaction 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 approximately $520,488.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 256,373 shares of company stock valued at $27,637,427. 2.00% of the stock is currently owned by corporate 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.