The Cooper Companies, Inc. (NASDAQ:COO) Shares Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. grew its holdings in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 480.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 937,806 shares of the medical device company’s stock after purchasing an additional 776,140 shares during the period. Point72 Asset Management L.P. owned about 0.47% of Cooper Companies worth $81,870,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in COO. Benjamin F. Edwards & Company Inc. grew its stake in shares of Cooper Companies by 248.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the medical device company’s stock worth $25,000 after purchasing an additional 174 shares in the last quarter. Brown Brothers Harriman & Co. boosted its position in shares of Cooper Companies by 412.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 251 shares of the medical device company’s stock worth $95,000 after acquiring an additional 202 shares in the last quarter. Covestor Ltd increased its holdings in shares of Cooper Companies by 305.9% in the 1st quarter. Covestor Ltd now owns 276 shares of the medical device company’s stock valued at $28,000 after acquiring an additional 208 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Cooper Companies during the 2nd quarter worth about $25,000. Finally, Crewe Advisors LLC lifted 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 last quarter. 24.39% of the stock is owned by hedge funds and other institutional investors.

Cooper Companies Stock Performance

NASDAQ COO opened at $109.85 on Wednesday. The business has a 50 day moving average price of $98.75 and a 200 day moving average price of $95.56. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.99 and a quick ratio of 1.18. The company has a market capitalization of $21.88 billion, a P/E ratio of 64.52, a PEG ratio of 2.63 and a beta of 0.98. The Cooper Companies, Inc. has a 1-year low of $75.93 and a 1-year high of $112.38.

Cooper Companies (NASDAQ:COO) last announced its quarterly 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. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $997.30 million. During the same quarter last year, the business posted $0.84 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts expect that The Cooper Companies, Inc. will post 3.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on COO. Piper Sandler upped their target price on shares of Cooper Companies from $115.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Jefferies Financial Group upgraded Cooper Companies from a “hold” rating to a “buy” rating and upped their price target for the stock from $107.00 to $115.00 in a research note on Tuesday, July 16th. Robert W. Baird raised their price objective 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a report on Thursday, August 29th. Finally, Wells Fargo & Company increased their target price 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 research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.00.

Insider Buying and Selling at Cooper Companies

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

Cooper Companies Profile

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.