Davis R M Inc. Sells 740 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

Davis R M Inc. trimmed its position in The Cooper Companies, Inc. (NASDAQ:COO) by 12.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,101 shares of the medical device company’s stock after selling 740 shares during the quarter. Davis R M Inc.’s holdings in Cooper Companies were worth $563,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in shares of Cooper Companies in the 2nd quarter valued at approximately $25,000. Ashton Thomas Securities LLC bought a new position in Cooper Companies in the 3rd quarter valued at approximately $25,000. Crewe Advisors LLC boosted its position in Cooper Companies by 286.4% in the second 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 in the last quarter. Tortoise Investment Management LLC grew its stake in shares of Cooper Companies by 75.4% during the second quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company’s stock worth $34,000 after buying an additional 169 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Cooper Companies by 144.9% during the third quarter. Covestor Ltd now owns 338 shares of the medical device company’s stock worth $37,000 after buying an additional 200 shares in the last quarter. 24.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COO has been the topic of several recent research reports. Wells Fargo & Company raised their price objective on Cooper Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Stifel Nicolaus restated 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 reiterated a “hold” rating on shares of Cooper Companies in a report on Thursday, August 29th. Piper Sandler boosted their target price on shares of Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Robert W. Baird raised their price target on shares of Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $117.00.

Cooper Companies Price Performance

Shares of COO opened at $102.40 on Tuesday. The firm has a market cap of $20.39 billion, a PE ratio of 57.05, a price-to-earnings-growth ratio of 2.17 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 business’s 50 day moving average price is $105.74 and its two-hundred day moving average price is $98.39. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.99.

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

Insider Activity

In related news, CFO Brian G. Andrews sold 24,788 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $105.90, for a total value of $2,625,049.20. Following the transaction, the chief financial officer now directly owns 6,614 shares in the company, valued at $700,422.60. This trade represents a 78.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Daniel G. Mcbride sold 114,992 shares of the business’s 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 sale, the chief operating officer now owns 44,696 shares of the company’s stock, valued at $4,714,534.08. This trade represents a 72.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 256,373 shares of company stock worth $27,637,427 in the last three months. Company insiders own 2.00% of the company’s stock.

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.