Point72 Hong Kong Ltd Buys Shares of 41,449 The Cooper Companies, Inc. (NASDAQ:COO)

Point72 Hong Kong Ltd purchased a new position in shares of The Cooper Companies, Inc. (NASDAQ:COO) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 41,449 shares of the medical device company’s stock, valued at approximately $3,619,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Cooper Companies by 303.0% during the first quarter. Vanguard Group Inc. now owns 23,099,975 shares of the medical device company’s stock worth $2,343,723,000 after purchasing an additional 17,367,502 shares during the last quarter. Capital World Investors lifted its position in shares of Cooper Companies by 301.7% during the 1st quarter. Capital World Investors now owns 5,654,023 shares of the medical device company’s stock worth $573,657,000 after buying an additional 4,246,519 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Cooper Companies by 279.8% in the first quarter. Janus Henderson Group PLC now owns 3,437,064 shares of the medical device company’s stock valued at $348,723,000 after buying an additional 2,532,186 shares in the last quarter. Bessemer Group Inc. boosted its stake in Cooper Companies by 305.2% in the first quarter. Bessemer Group Inc. now owns 2,000,910 shares of the medical device company’s stock valued at $203,013,000 after buying an additional 1,507,049 shares in the last quarter. Finally, Swedbank AB acquired a new position in Cooper Companies during the first quarter worth about $139,246,000. Institutional investors and hedge funds own 24.39% of the company’s stock.

Cooper Companies Stock Up 0.0 %

Shares of COO opened at $109.85 on Wednesday. The stock’s 50-day moving average price is $98.75 and its two-hundred day moving average price is $95.56. The Cooper Companies, Inc. has a 12 month low of $75.93 and a 12 month high of $112.38. The company has a market capitalization of $21.88 billion, a PE ratio of 64.52, a PEG ratio of 2.63 and a beta of 0.98. The company has a current ratio of 1.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings data on Wednesday, August 28th. The medical device company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.05. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $997.30 million. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 earnings per share. On average, analysts anticipate that The Cooper Companies, Inc. will post 3.65 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on COO shares. Jefferies Financial Group upgraded shares of Cooper Companies from a “hold” rating to a “buy” rating and raised their price target for the company from $107.00 to $115.00 in a research note on Tuesday, July 16th. Morgan Stanley boosted their target price on shares of Cooper Companies from $95.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 10th. Stifel Nicolaus reiterated a “buy” rating and set a $115.00 price target (up from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a report on Thursday, August 29th. Finally, Piper Sandler upped their target price on Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Cooper Companies presently has an average rating of “Moderate Buy” and a consensus target price of $115.00.

Insider Activity

In other news, COO Daniel G. Mcbride sold 114,992 shares of the 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 completion of the sale, the chief operating officer now directly owns 44,696 shares in the company, valued at $4,714,534.08. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, COO Daniel G. Mcbride sold 114,992 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $105.48, for a total transaction of $12,129,356.16. Following the completion of the sale, the chief operating officer now owns 44,696 shares of the company’s stock, valued at $4,714,534.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Agostino Ricupati sold 1,601 shares of Cooper Companies stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 4,818 shares of the company’s stock, valued at $520,488.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 256,373 shares of company stock valued at $27,637,427. 2.00% of the stock is currently owned by insiders.

Cooper Companies Company 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.