Wellington Management Group LLP Decreases Stake in The Cooper Companies, Inc. (NASDAQ:COO)

Wellington Management Group LLP reduced its holdings in The Cooper Companies, Inc. (NASDAQ:COO) by 11.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,381 shares of the medical device company’s stock after selling 3,676 shares during the period. Wellington Management Group LLP’s holdings in Cooper Companies were worth $3,132,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in Cooper Companies during the third quarter worth about $25,000. Innealta Capital LLC purchased a new position in Cooper Companies during the second quarter worth about $25,000. Covestor Ltd raised its stake in Cooper Companies by 144.9% during the third quarter. Covestor Ltd now owns 338 shares of the medical device company’s stock worth $37,000 after purchasing an additional 200 shares during the period. Crewe Advisors LLC raised its stake in Cooper Companies by 286.4% during the second 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. Finally, Tortoise Investment Management LLC raised its stake 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 worth $34,000 after purchasing an additional 169 shares during the period. 24.39% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cooper Companies news, CEO Albert G. White III sold 114,992 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were 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 in the company, valued at $18,267,624.69. The trade was a 41.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is currently owned by company insiders.

Cooper Companies Trading Up 0.5 %

Shares of COO stock opened at $94.49 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.12 and a current ratio of 1.91. The stock has a market capitalization of $18.86 billion, a P/E ratio of 48.46, a price-to-earnings-growth ratio of 2.52 and a beta of 0.97. The company has a 50 day moving average price of $103.04 and a 200 day moving average price of $99.00. The Cooper Companies, Inc. has a fifty-two week low of $84.76 and a fifty-two week high of $112.38.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings results on Thursday, December 5th. The medical device company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business posted $0.87 EPS. The firm’s revenue was up 9.8% on a year-over-year basis. Equities research analysts predict that The Cooper Companies, Inc. will post 3.98 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on COO shares. Piper Sandler lifted 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 target (up from $110.00) on shares of Cooper Companies in a research note on Thursday, August 29th. Wells Fargo & Company boosted their price target on shares of Cooper Companies from $115.00 to $118.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Citigroup reduced their price target on shares of Cooper Companies from $116.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, December 6th. Finally, Robert W. Baird boosted their price target 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. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.