Oppenheimer & Co. Inc. Boosts Stock Position in The Cooper Companies, Inc. (NYSE:COO)

Posted by Defense World Staff on Feb 25th, 2023

Oppenheimer & Co. Inc. raised its stake in The Cooper Companies, Inc. (NYSE:COO – Get Rating) by 3.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,021 shares of the medical device company’s stock after purchasing an additional 62 shares during the period. Oppenheimer & Co. Inc.’s holdings in Cooper Companies were worth $533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Cooper Companies by 1.3% in the first quarter. Vanguard Group Inc. now owns 5,368,727 shares of the medical device company’s stock valued at $2,241,927,000 after purchasing an additional 70,640 shares during the last quarter. State Street Corp grew its stake in shares of Cooper Companies by 0.5% during the first quarter. State Street Corp now owns 2,177,872 shares of the medical device company’s stock worth $909,458,000 after acquiring an additional 10,373 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Cooper Companies by 1.7% during the third quarter. Victory Capital Management Inc. now owns 1,023,973 shares of the medical device company’s stock worth $270,227,000 after acquiring an additional 17,353 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Cooper Companies by 1.1% during the second quarter. Allianz Asset Management GmbH now owns 890,287 shares of the medical device company’s stock worth $278,767,000 after acquiring an additional 9,416 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Cooper Companies by 0.5% during the first quarter. Northern Trust Corp now owns 558,812 shares of the medical device company’s stock worth $233,355,000 after acquiring an additional 3,006 shares during the last quarter. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Cooper Companies Trading Down 2.8 %

Shares of NYSE:COO opened at $330.51 on Friday. The Cooper Companies, Inc. has a 12-month low of $244.21 and a 12-month high of $430.67. The company has a market capitalization of $16.33 billion, a PE ratio of 42.59, a PEG ratio of 2.47 and a beta of 0.89. The business has a 50 day moving average of $340.79 and a two-hundred day moving average of $310.70. The company has a current ratio of 1.20, a quick ratio of 0.71 and a debt-to-equity ratio of 0.33.

Cooper Companies (NYSE:COO – Get Rating) last announced its quarterly earnings results on Thursday, December 8th. The medical device company reported $2.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.34). Cooper Companies had a net margin of 11.66% and a return on equity of 8.76%. The company had revenue of $848.10 million during the quarter, compared to analyst estimates of $838.88 million. During the same period in the previous year, the firm posted $3.28 earnings per share. The company’s revenue was up 11.7% compared to the same quarter last year. As a group, analysts forecast that The Cooper Companies, Inc. will post 12.47 EPS for the current year.

Cooper Companies Dividend Announcement

The business also recently declared a Semi-Annual dividend, which was paid on Friday, February 10th. Shareholders of record on Monday, January 23rd were issued a $0.03 dividend. The ex-dividend date was Friday, January 20th. Cooper Companies’s payout ratio is presently 0.77%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on COO shares. Robert W. Baird dropped their price target on Cooper Companies from $370.00 to $355.00 and set an “outperform” rating on the stock in a research note on Friday, December 9th. JPMorgan Chase & Co. boosted their price target on Cooper Companies from $300.00 to $330.00 in a research note on Monday, November 28th. Piper Sandler boosted their price target on Cooper Companies from $350.00 to $375.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 11th. Citigroup lifted their target price on Cooper Companies from $348.00 to $368.00 and gave the stock a “buy” rating in a report on Monday, December 12th. Finally, Mizuho lifted their target price on Cooper Companies from $375.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, January 24th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $379.10.

Insider Transactions at Cooper Companies

In other news, Director Jody S. Lindell sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $344.30, for a total transaction of $344,300.00. Following the completion of the transaction, the director now directly owns 13,543 shares of the company’s stock, valued at approximately $4,662,854.90. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.00% of the company’s stock.

Cooper Companies Profile

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The Cooper Cos, Inc operates as a medical device company. It operates through the Cooper Vision and Cooper Surgical segments. The Cooper Vision segment develops, manufactures, and markets products for contact lens wearers, which solves vision challenges such as astigmatism, presbyopia, myopia, ocular dryness, and eye fatigues.