CI Investments Inc. Increases Stock Position in The Cooper Companies, Inc. (NYSE:COO)

Posted by on May 25th, 2023

CI Investments Inc. boosted its stake in The Cooper Companies, Inc. (NYSE:COO – Get Rating) by 251.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 474 shares of the medical device company’s stock after purchasing an additional 339 shares during the quarter. CI Investments Inc.’s holdings in Cooper Companies were worth $157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Cooper Companies by 1.0% during the third quarter. Vanguard Group Inc. now owns 5,486,539 shares of the medical device company’s stock worth $1,447,898,000 after acquiring an additional 56,846 shares in the last quarter. State Street Corp raised 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 in the last quarter. Veritas Asset Management LLP raised its stake in shares of Cooper Companies by 1.9% during the fourth quarter. Veritas Asset Management LLP now owns 2,091,844 shares of the medical device company’s stock worth $691,710,000 after acquiring an additional 38,832 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Cooper Companies by 8.1% during the third quarter. Alliancebernstein L.P. now owns 1,577,676 shares of the medical device company’s stock worth $416,349,000 after acquiring an additional 118,239 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Cooper Companies by 20.0% during the third quarter. Bank of New York Mellon Corp now owns 1,377,607 shares of the medical device company’s stock worth $363,554,000 after acquiring an additional 229,133 shares in the last quarter. 96.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COO has been the topic of several research reports. TheStreet raised shares of Cooper Companies from a “c+” rating to a “b-” rating in a research note on Friday, April 14th. Citigroup raised their target price on shares of Cooper Companies from $372.00 to $430.00 and gave the stock a “buy” rating in a report on Monday, April 3rd. Stifel Nicolaus raised their target price on shares of Cooper Companies from $380.00 to $420.00 in a report on Tuesday, May 16th. Robert W. Baird raised their target price on shares of Cooper Companies from $371.00 to $385.00 in a report on Friday, March 3rd. Finally, Mizuho raised their target price on shares of Cooper Companies from $390.00 to $400.00 in a report on Tuesday, April 18th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $398.80.

Insider Buying and Selling at Cooper Companies

In other Cooper Companies news, CAO Agostino Ricupati sold 1,000 shares of the firm’s stock in a transaction on Friday, March 31st. The stock was sold at an average price of $370.00, for a total transaction of $370,000.00. Following the completion of the transaction, the chief accounting officer now owns 863 shares of the company’s stock, valued at $319,310. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Robert S. Weiss sold 37,510 shares of Cooper Companies stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $337.72, for a total value of $12,667,877.20. Following the completion of the transaction, the director now owns 70,000 shares of the company’s stock, valued at approximately $23,640,400. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Agostino Ricupati sold 1,000 shares of the stock in a transaction that occurred on Friday, March 31st. The stock was sold at an average price of $370.00, for a total transaction of $370,000.00. Following the completion of the transaction, the chief accounting officer now owns 863 shares in the company, valued at approximately $319,310. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,726 shares of company stock valued at $13,451,962. 2.00% of the stock is currently owned by company insiders.

Cooper Companies Stock Performance

NYSE:COO opened at $377.97 on Thursday. The stock has a market cap of $18.69 billion, a P/E ratio of 50.06, a price-to-earnings-growth ratio of 2.72 and a beta of 0.91. The firm’s fifty day simple moving average is $374.22 and its 200 day simple moving average is $345.62. The Cooper Companies, Inc. has a twelve month low of $244.21 and a twelve month high of $395.20. The company has a quick ratio of 1.00, a current ratio of 1.72 and a debt-to-equity ratio of 0.36.

Cooper Companies (NYSE:COO – Get Rating) last released its quarterly earnings results on Thursday, March 2nd. The medical device company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.24. The business had revenue of $858.50 million for the quarter, compared to analysts’ expectations of $834.90 million. Cooper Companies had a net margin of 11.10% and a return on equity of 8.39%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.24 earnings per share. As a group, research analysts predict that The Cooper Companies, Inc. will post 12.73 EPS for the current year.

About Cooper Companies

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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.

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Institutional Ownership by Quarter for Cooper Companies (NYSE:COO)

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