The Cooper Companies, Inc. $COO Shares Sold by Channing Capital Management LLC

Channing Capital Management LLC cut its position in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 20.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 88,367 shares of the medical device company’s stock after selling 22,316 shares during the period. Channing Capital Management LLC’s holdings in Cooper Companies were worth $6,288,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COO. Horizon Investments LLC boosted its stake in shares of Cooper Companies by 5.0% during the 1st quarter. Horizon Investments LLC now owns 2,859 shares of the medical device company’s stock worth $241,000 after acquiring an additional 136 shares in the last quarter. Wealth Alliance LLC increased its stake in shares of Cooper Companies by 4.2% in the 2nd quarter. Wealth Alliance LLC now owns 4,230 shares of the medical device company’s stock valued at $301,000 after purchasing an additional 171 shares in the last quarter. State of Michigan Retirement System raised its holdings in Cooper Companies by 0.4% in the 2nd quarter. State of Michigan Retirement System now owns 54,344 shares of the medical device company’s stock worth $3,867,000 after purchasing an additional 200 shares during the period. New York Life Investment Management LLC boosted its position in Cooper Companies by 0.7% during the second quarter. New York Life Investment Management LLC now owns 30,019 shares of the medical device company’s stock worth $2,136,000 after purchasing an additional 210 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Cooper Companies by 3.5% during the first quarter. EverSource Wealth Advisors LLC now owns 6,517 shares of the medical device company’s stock worth $550,000 after purchasing an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Insider Activity

In other Cooper Companies news, CEO Albert G. White III acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was bought at an average price of $68.39 per share, with a total value of $683,900.00. Following the purchase, the chief executive officer owned 226,151 shares in the company, valued at approximately $15,466,466.89. The trade was a 4.63% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Gerard H. Warner III acquired 1,450 shares of the business’s stock in a transaction on Friday, September 5th. The stock was acquired at an average price of $69.23 per share, with a total value of $100,383.50. Following the acquisition, the chief operating officer owned 18,319 shares in the company, valued at $1,268,224.37. The trade was a 8.60% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 13,450 shares of company stock worth $921,064 over the last three months. Insiders own 1.98% of the company’s stock.

Cooper Companies Stock Up 0.2%

Shares of COO opened at $75.98 on Thursday. The stock has a 50 day moving average price of $71.81 and a 200 day moving average price of $71.70. The Cooper Companies, Inc. has a one year low of $61.78 and a one year high of $106.63. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.24 and a current ratio of 2.12. The stock has a market capitalization of $15.11 billion, a price-to-earnings ratio of 37.43, a PEG ratio of 1.90 and a beta of 1.05.

Cooper Companies announced that its board has initiated a share repurchase plan on Wednesday, September 17th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the medical device company to purchase up to 15.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently commented on COO. Piper Sandler cut their price objective on Cooper Companies from $105.00 to $83.00 and set an “overweight” rating for the company in a research report on Thursday, August 28th. The Goldman Sachs Group set a $64.00 price target on shares of Cooper Companies and gave the company a “sell” rating in a research note on Wednesday, October 1st. Wells Fargo & Company reissued an “equal weight” rating and issued a $72.00 price target on shares of Cooper Companies in a report on Thursday, November 13th. Robert W. Baird reduced their price objective on shares of Cooper Companies from $97.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, August 28th. Finally, Stifel Nicolaus decreased their price objective on shares of Cooper Companies from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Cooper Companies presently has an average rating of “Moderate Buy” and an average price target of $84.77.

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.