CIBC Asset Management Inc Purchases 2,245 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

CIBC Asset Management Inc lifted its position in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 8.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,993 shares of the medical device company’s stock after purchasing an additional 2,245 shares during the period. CIBC Asset Management Inc’s holdings in Cooper Companies were worth $3,199,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of Cooper Companies during the 2nd quarter worth approximately $25,000. Ashton Thomas Securities LLC bought a new stake in Cooper Companies during the third quarter worth $25,000. Covestor Ltd boosted its position in Cooper Companies by 305.9% in the first quarter. Covestor Ltd now owns 276 shares of the medical device company’s stock worth $28,000 after purchasing an additional 208 shares during the last quarter. Crewe Advisors LLC grew its stake in Cooper Companies by 286.4% in the 2nd quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 252 shares during the period. Finally, Tortoise Investment Management LLC increased its position in shares of Cooper Companies by 75.4% during the 2nd quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 169 shares during the last quarter. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Cooper Companies Price Performance

Shares of NASDAQ:COO opened at $99.48 on Tuesday. The company has a 50 day moving average of $106.66 and a 200 day moving average of $98.12. 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 market cap of $19.81 billion, a P/E ratio of 55.42, a P/E/G ratio of 2.15 and a beta of 0.99. The Cooper Companies, Inc. has a 12 month low of $82.21 and a 12 month high of $112.38.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings results on Wednesday, August 28th. The medical device company reported $0.96 EPS for the quarter, beating 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 firm had revenue of $1 billion during the quarter, compared to analyst estimates of $997.30 million. During the same period in the previous year, the business earned $0.84 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that The Cooper Companies, Inc. will post 3.65 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Stifel Nicolaus restated a “buy” rating and set a $115.00 price target (up previously from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. Wells Fargo & Company lifted their price target on shares of Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. StockNews.com raised Cooper Companies from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Robert W. Baird boosted their target price on Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Morgan Stanley increased their price target on Cooper Companies from $95.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.00.

Insiders Place Their Bets

In other news, COO Daniel G. Mcbride sold 114,992 shares of the firm’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 sale, the chief operating officer now owns 44,696 shares in the company, valued at approximately $4,714,534.08. This trade represents a 72.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brian G. Andrews sold 24,788 shares of Cooper Companies stock in a transaction on 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 of the company’s stock, valued at $700,422.60. This represents a 78.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 256,373 shares of company stock worth $27,637,427 in the last ninety days. 2.00% of the stock is currently owned by 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.