Credit Suisse AG Lowers Stake in The Cooper Companies, Inc. (NYSE:COO)

Posted by Defense World Staff on Jun 9th, 2023

Credit Suisse AG decreased its stake in The Cooper Companies, Inc. (NYSE:COO – Get Rating) by 16.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,572 shares of the medical device company’s stock after selling 10,148 shares during the period. Credit Suisse AG owned approximately 0.10% of Cooper Companies worth $17,053,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Greenwood Capital Associates LLC purchased a new stake in shares of Cooper Companies in the fourth quarter worth about $25,000. Belpointe Asset Management LLC purchased a new stake in shares of Cooper Companies in the fourth quarter worth about $30,000. Denali Advisors LLC purchased a new stake in shares of Cooper Companies in the fourth quarter worth about $33,000. CI Investments Inc. boosted its position in shares of Cooper Companies by 60.7% in the third quarter. CI Investments Inc. now owns 135 shares of the medical device company’s stock worth $36,000 after buying an additional 51 shares during the period. Finally, Standard Family Office LLC purchased a new position in Cooper Companies in the third quarter valued at about $37,000. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Insider Transactions at Cooper Companies

In related news, CAO Agostino Ricupati sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 31st. The stock was sold at an average price of $370.00, for a total value of $370,000.00. Following the sale, the chief accounting officer now directly owns 863 shares in the company, valued at approximately $319,310. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.

Cooper Companies Stock Down 0.3 %

Shares of Cooper Companies stock opened at $349.80 on Friday. The company has a current ratio of 1.69, a quick ratio of 0.95 and a debt-to-equity ratio of 0.35. The business’s 50 day simple moving average is $376.62 and its 200-day simple moving average is $350.12. The stock has a market capitalization of $17.32 billion, a price-to-earnings ratio of 60.31, a PEG ratio of 2.49 and a beta of 0.92. The Cooper Companies, Inc. has a twelve month low of $244.21 and a twelve month high of $395.20.

Cooper Companies (NYSE:COO – Get Rating) last announced its quarterly earnings results on Thursday, June 1st. The medical device company reported $3.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.04. The business had revenue of $877.40 million for the quarter, compared to analysts’ expectations of $865.81 million. Cooper Companies had a return on equity of 8.18% and a net margin of 8.41%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.24 EPS. Equities research analysts forecast that The Cooper Companies, Inc. will post 12.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Robert W. Baird increased their price target on Cooper Companies from $385.00 to $400.00 in a report on Friday, June 2nd. TheStreet raised Cooper Companies from a “c+” rating to a “b-” rating in a report on Friday, April 14th. Citigroup increased their price target on Cooper Companies from $372.00 to $430.00 and gave the company a “buy” rating in a report on Monday, April 3rd. Stifel Nicolaus increased their price target on Cooper Companies from $380.00 to $420.00 in a report on Tuesday, May 16th. Finally, Piper Sandler increased their price target on Cooper Companies from $375.00 to $430.00 in a report on Wednesday, May 24th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $393.89.

Cooper Companies Company 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.