Intech Investment Management LLC Sells 32,228 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

Intech Investment Management LLC lessened its holdings in The Cooper Companies, Inc. (NASDAQ:COO) by 81.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,469 shares of the medical device company’s stock after selling 32,228 shares during the period. Intech Investment Management LLC’s holdings in Cooper Companies were worth $824,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Innealta Capital LLC purchased a new stake in Cooper Companies during the second quarter valued at approximately $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Cooper Companies during the 3rd quarter valued at $25,000. Crewe Advisors LLC raised its holdings in Cooper Companies by 286.4% in the 2nd quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock worth $30,000 after purchasing an additional 252 shares during the period. Tortoise Investment Management LLC lifted its position in Cooper Companies by 75.4% during the second 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 in the last quarter. Finally, Covestor Ltd grew its holdings in Cooper Companies by 144.9% during the third quarter. Covestor Ltd now owns 338 shares of the medical device company’s stock valued at $37,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Cooper Companies Stock Performance

NASDAQ COO opened at $103.43 on Friday. The stock has a market capitalization of $20.60 billion, a PE ratio of 57.46, a P/E/G ratio of 2.21 and a beta of 0.99. The Cooper Companies, Inc. has a 1-year low of $82.21 and a 1-year high of $112.38. The business has a 50 day simple moving average of $105.45 and a two-hundred day simple moving average of $98.48. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.99 and a quick ratio of 1.18.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings data on Wednesday, August 28th. The medical device company reported $0.96 EPS 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 business had revenue of $1 billion during the quarter, compared to analyst estimates of $997.30 million. During the same quarter last year, the business earned $0.84 earnings per share. Cooper Companies’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts predict that The Cooper Companies, Inc. will post 3.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on COO shares. Morgan Stanley raised their price objective 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 target price on shares of Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Stifel Nicolaus reissued a “buy” rating and issued a $115.00 price objective (up from $110.00) on shares of Cooper Companies in a research note on Thursday, August 29th. StockNews.com cut shares of Cooper Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company increased their price target on Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $117.00.

Insider Buying and Selling

In other news, CFO Brian G. Andrews sold 24,788 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $105.90, for a total value of $2,625,049.20. Following the sale, the chief financial officer now owns 6,614 shares of the company’s stock, valued at approximately $700,422.60. This represents a 78.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Albert G. White III sold 114,992 shares of Cooper Companies stock in a transaction dated 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 transaction, the chief executive officer now directly owns 165,273 shares of the company’s stock, valued at approximately $18,267,624.69. This represents a 41.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 256,373 shares of company stock worth $27,637,427. Corporate insiders own 2.00% of the company’s stock.

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.