PNC Financial Services Group Inc. Sells 3,079 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

PNC Financial Services Group Inc. lessened its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,964 shares of the medical device company’s stock after selling 3,079 shares during the period. PNC Financial Services Group Inc.’s holdings in Cooper Companies were worth $9,375,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in Cooper Companies during the 3rd quarter valued at about $25,000. Covestor Ltd raised its holdings in shares of Cooper Companies by 305.9% during the first quarter. Covestor Ltd now owns 276 shares of the medical device company’s stock valued at $28,000 after acquiring an additional 208 shares in the last quarter. Innealta Capital LLC bought a new stake in Cooper Companies in the second quarter valued at $25,000. Crewe Advisors LLC increased its position in Cooper Companies by 286.4% during 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 raised its holdings in Cooper Companies by 75.4% in the 2nd quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company’s stock worth $34,000 after purchasing an additional 169 shares in the last quarter. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Cooper Companies Stock Up 0.9 %

COO opened at $100.80 on Friday. The stock has a market capitalization of $20.08 billion, a price-to-earnings ratio of 56.16, a PEG ratio of 2.14 and a beta of 0.99. The firm has a 50 day moving average price of $105.91 and a 200-day moving average price of $98.26. The Cooper Companies, Inc. has a twelve month low of $82.21 and a twelve month high of $112.38. 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 analysts’ consensus estimates of $0.91 by $0.05. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $997.30 million. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 EPS. Equities research analysts forecast that The Cooper Companies, Inc. will post 3.65 earnings per share for the current year.

Insiders Place Their Bets

In other Cooper Companies news, CAO Agostino Ricupati sold 1,601 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 4,818 shares in the company, valued at approximately $520,488.54. This trade represents a 24.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 owns 165,273 shares of the company’s stock, valued at approximately $18,267,624.69. The trade was a 41.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 256,373 shares of company stock worth $27,637,427. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on COO shares. StockNews.com lowered shares of Cooper Companies from a “buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley upped 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. Piper Sandler raised their price objective on Cooper Companies from $115.00 to $120.00 and gave the company an “overweight” 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, Robert W. Baird lifted their price target on shares of Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Cooper Companies has a consensus rating of “Moderate Buy” and a consensus price target of $117.00.

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.