Retirement Systems of Alabama reduced its holdings in Cooper Companies Inc (NYSE:COO) by 5.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,709 shares of the medical device company’s stock after selling 1,370 shares during the period. Retirement Systems of Alabama’s holdings in Cooper Companies were worth $6,448,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of COO. Ossiam purchased a new position in shares of Cooper Companies in the 2nd quarter worth $25,000. Flagship Harbor Advisors LLC grew its stake in shares of Cooper Companies by 62.5% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 78 shares of the medical device company’s stock worth $26,000 after buying an additional 30 shares in the last quarter. Kings Point Capital Management purchased a new position in shares of Cooper Companies in the 2nd quarter worth $27,000. Evolution Wealth Advisors LLC purchased a new position in shares of Cooper Companies in the 2nd quarter worth $34,000. Finally, NumerixS Investment Technologies Inc purchased a new position in shares of Cooper Companies in the 2nd quarter worth $34,000. 95.76% of the stock is owned by institutional investors and hedge funds.
In related news, Director Allan E. Rubenstein sold 1,335 shares of Cooper Companies stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $299.61, for a total transaction of $399,979.35. Following the completion of the sale, the director now owns 3,591 shares in the company, valued at approximately $1,075,899.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.70% of the company’s stock.
A number of equities analysts have commented on COO shares. Raymond James reissued a “buy” rating on shares of Cooper Companies in a research note on Monday, August 26th. Piper Jaffray Companies set a $360.00 target price on shares of Cooper Companies and gave the stock a “buy” rating in a report on Friday, August 30th. KeyCorp lowered their target price on shares of Cooper Companies from $351.00 to $348.00 and set an “overweight” rating for the company in a report on Friday, October 11th. ValuEngine lowered shares of Cooper Companies from a “buy” rating to a “hold” rating in a report on Tuesday, September 10th. Finally, Wells Fargo & Co raised their target price on shares of Cooper Companies from $356.00 to $365.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $326.00.
Cooper Companies stock opened at $291.49 on Thursday. The firm has a 50-day moving average price of $292.59 and a 200-day moving average price of $309.55. The firm has a market capitalization of $14.38 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 2.13 and a beta of 0.90. The company has a current ratio of 1.29, a quick ratio of 0.73 and a debt-to-equity ratio of 0.39. Cooper Companies Inc has a 12-month low of $228.65 and a 12-month high of $344.32.
Cooper Companies (NYSE:COO) last released its earnings results on Thursday, August 29th. The medical device company reported $3.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.16 by $0.07. Cooper Companies had a net margin of 17.08% and a return on equity of 17.15%. The firm had revenue of $679.40 million during the quarter, compared to analyst estimates of $687.60 million. During the same quarter last year, the business earned $3.00 EPS. The business’s revenue was up 2.9% on a year-over-year basis. As a group, sell-side analysts predict that Cooper Companies Inc will post 12.32 earnings per share for the current fiscal year.
About Cooper Companies
The Cooper Companies, Inc operates as a medical device company worldwide. It operates through CooperVision and CooperSurgical business units. The company develops, manufactures, and markets a range of contact lenses, including spherical lenses, and toric and multifocal lenses that correct near- and farsightedness, as well as addresses various complex visual defects, such as astigmatism and presbyopia.
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