Taurus Asset Management LLC Increases Position in The Cooper Companies, Inc. (NASDAQ:COO)

Taurus Asset Management LLC increased its stake in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 0.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 181,700 shares of the medical device company’s stock after acquiring an additional 775 shares during the period. Cooper Companies makes up about 2.0% of Taurus Asset Management LLC’s investment portfolio, making the stock its 22nd largest position. Taurus Asset Management LLC’s holdings in Cooper Companies were worth $20,049,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in Cooper Companies during the 3rd quarter worth approximately $25,000. Covestor Ltd raised its stake in shares of Cooper Companies by 305.9% during the first quarter. Covestor Ltd now owns 276 shares of the medical device company’s stock worth $28,000 after purchasing an additional 208 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Cooper Companies during the second quarter worth $25,000. Crewe Advisors LLC grew its position in Cooper Companies by 286.4% in the 2nd quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock valued at $30,000 after buying an additional 252 shares during the last quarter. Finally, Tortoise Investment Management LLC increased its stake in Cooper Companies by 75.4% in the 2nd quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company’s stock valued at $34,000 after buying an additional 169 shares during the period. Institutional investors and hedge funds own 24.39% of the company’s stock.

Insider Buying and Selling at Cooper Companies

In related news, CEO Albert G. White III sold 114,992 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $110.53, for a total transaction of $12,710,065.76. Following the transaction, the chief executive officer now owns 165,273 shares of the company’s stock, valued at approximately $18,267,624.69. This represents a 41.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brian G. Andrews sold 24,788 shares of Cooper Companies stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $105.90, for a total transaction of $2,625,049.20. Following the completion of the sale, the chief financial officer now directly owns 6,614 shares of the company’s stock, valued at $700,422.60. The trade was a 78.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 256,373 shares of company stock worth $27,637,427. 2.00% of the stock is owned by insiders.

Cooper Companies Price Performance

Cooper Companies stock opened at $99.63 on Monday. The firm has a market capitalization of $19.84 billion, a PE ratio of 55.50, a P/E/G ratio of 2.15 and a beta of 0.99. The Cooper Companies, Inc. has a 52 week low of $82.21 and a 52 week high of $112.38. The firm’s 50-day simple moving average is $106.83 and its 200 day simple moving average is $98.06. The company has a quick ratio of 1.18, a current ratio of 1.99 and a debt-to-equity ratio of 0.33.

Cooper Companies (NASDAQ:COO) last announced its quarterly earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.05. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $997.30 million. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities research analysts predict that The Cooper Companies, Inc. will post 3.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

COO has been the subject of several recent analyst reports. Morgan Stanley raised 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. StockNews.com upgraded shares of Cooper Companies from a “hold” rating to a “buy” rating in a research report on Thursday. Wells Fargo & Company boosted their target price on Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a research 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 price objective on Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $117.00.

About Cooper Companies

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.