CIBC Asset Management Inc increased its holdings in shares of Cooper Companies Inc (NYSE:COO) by 1.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 4,265 shares of the medical device company’s stock after purchasing an additional 65 shares during the period. CIBC Asset Management Inc’s holdings in Cooper Companies were worth $1,210,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd bought a new position in shares of Cooper Companies during the 1st quarter valued at about $34,000. CSat Investment Advisory L.P. lifted its stake in Cooper Companies by 53.6% in the 1st quarter. CSat Investment Advisory L.P. now owns 324 shares of the medical device company’s stock valued at $89,000 after acquiring an additional 113 shares in the last quarter. Squar Milner Financial Services LLC lifted its stake in Cooper Companies by 19.4% in the 1st quarter. Squar Milner Financial Services LLC now owns 326 shares of the medical device company’s stock valued at $89,000 after acquiring an additional 53 shares in the last quarter. Fifth Third Bancorp lifted its stake in Cooper Companies by 21.7% in the 1st quarter. Fifth Third Bancorp now owns 421 shares of the medical device company’s stock valued at $116,000 after acquiring an additional 75 shares in the last quarter. Finally, Arden Trust Co bought a new stake in Cooper Companies in the 1st quarter valued at approximately $120,000. Institutional investors and hedge funds own 88.09% of the company’s stock.
COO stock opened at $282.93 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.58 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $15.09 billion, a PE ratio of 26.37, a PEG ratio of 3.04 and a beta of 0.91. Cooper Companies Inc has a 1-year low of $236.68 and a 1-year high of $365.68. The business’s 50 day simple moving average is $288.34 and its 200 day simple moving average is $307.54.
Cooper Companies (NYSE:COO) last posted its earnings results on Thursday, June 4th. The medical device company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.78). The business had revenue of $524.90 million for the quarter, compared to analyst estimates of $604.78 million. Cooper Companies had a return on equity of 14.67% and a net margin of 13.50%. The firm’s revenue was down 19.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.94 earnings per share. As a group, sell-side analysts predict that Cooper Companies Inc will post 8.45 EPS for the current fiscal year.
The firm also recently announced a Semi-Annual dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 23rd will be issued a dividend of $0.03 per share. The ex-dividend date is Wednesday, July 22nd. Cooper Companies’s payout ratio is presently 0.49%.
In other news, CEO Albert G. White III acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were purchased at an average cost of $278.23 per share, with a total value of $278,230.00. Following the acquisition, the chief executive officer now directly owns 41,430 shares in the company, valued at approximately $11,527,068.90. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Holly R. Sheffield acquired 880 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was purchased at an average cost of $283.18 per share, for a total transaction of $249,198.40. Following the completion of the acquisition, the executive vice president now owns 930 shares in the company, valued at $263,357.40. The disclosure for this purchase can be found here. Insiders have purchased a total of 3,235 shares of company stock worth $908,298 over the last three months. 1.40% of the stock is owned by insiders.
Several research firms have commented on COO. Stephens boosted their target price on Cooper Companies from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. KeyCorp cut their target price on Cooper Companies from $380.00 to $330.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 26th. Raymond James cut their target price on Cooper Companies from $340.00 to $330.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. Wells Fargo & Co cut their target price on Cooper Companies from $388.00 to $329.00 and set an “overweight” rating on the stock in a research note on Thursday, May 21st. Finally, Oppenheimer initiated coverage on Cooper Companies in a research note on Friday, June 5th. They set a “hold” rating and a $330.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $330.25.
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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