Sumitomo Mitsui Trust Holdings Inc. Buys 22,475 Shares of The Cooper Companies, Inc. (NYSE:COO)

Posted by Defense World Staff on Jul 18th, 2023

Sumitomo Mitsui Trust Holdings Inc. lifted its stake in The Cooper Companies, Inc. (NYSE:COO – Free Report) by 16.1% during the first quarter, HoldingsChannel reports. The firm owned 161,825 shares of the medical device company’s stock after purchasing an additional 22,475 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Cooper Companies were worth $60,419,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. ProShare Advisors LLC grew its holdings in shares of Cooper Companies by 0.4% in the fourth quarter. ProShare Advisors LLC now owns 6,700 shares of the medical device company’s stock worth $2,215,000 after purchasing an additional 28 shares during the last quarter. ETF Managers Group LLC grew its holdings in Cooper Companies by 3.8% during the 4th quarter. ETF Managers Group LLC now owns 1,702 shares of the medical device company’s stock worth $563,000 after acquiring an additional 62 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new position in Cooper Companies during the 4th quarter worth about $222,000. Securian Asset Management Inc. grew its holdings in Cooper Companies by 2.5% during the 4th quarter. Securian Asset Management Inc. now owns 4,054 shares of the medical device company’s stock worth $1,341,000 after acquiring an additional 100 shares in the last quarter. Finally, Xponance Inc. grew its holdings in Cooper Companies by 17.4% during the 4th quarter. Xponance Inc. now owns 6,580 shares of the medical device company’s stock worth $2,176,000 after acquiring an additional 974 shares in the last quarter. 98.36% of the stock is currently owned by institutional investors.

Cooper Companies Trading Down 0.9 %

Shares of COO stock opened at $393.92 on Tuesday. The company’s 50-day moving average price is $375.05 and its 200-day moving average price is $360.58. 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 stock has a market cap of $19.50 billion, a price-to-earnings ratio of 67.91, a PEG ratio of 2.82 and a beta of 0.91. The Cooper Companies, Inc. has a twelve month low of $244.21 and a twelve month high of $399.62.

Cooper Companies (NYSE:COO – Get Free Report) last announced its quarterly earnings results on Thursday, June 1st. The medical device company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.04. Cooper Companies had a net margin of 8.41% and a return on equity of 8.18%. The firm had revenue of $877.40 million for the quarter, compared to analysts’ expectations of $865.81 million. During the same quarter in the previous year, the company posted $3.24 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. As a group, equities analysts predict that The Cooper Companies, Inc. will post 12.79 earnings per share for the current year.

Cooper Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Thursday, July 27th will be given a $0.03 dividend. The ex-dividend date is Wednesday, July 26th. This represents a $0.12 dividend on an annualized basis and a yield of 0.03%. Cooper Companies’s payout ratio is currently 1.03%.

Analyst Ratings Changes

Several research analysts have issued reports on COO shares. Robert W. Baird increased their target price on shares of Cooper Companies from $385.00 to $400.00 in a report on Friday, June 2nd. Morgan Stanley started coverage on shares of Cooper Companies in a research note on Tuesday, May 30th. They issued an “equal weight” rating and a $410.00 target price for the company. Citigroup lifted their price objective on shares of Cooper Companies from $431.00 to $440.00 in a research note on Monday, July 10th. Stifel Nicolaus lifted their price objective on shares of Cooper Companies from $380.00 to $420.00 in a research note on Tuesday, May 16th. Finally, Piper Sandler lifted their price objective on shares of Cooper Companies from $375.00 to $430.00 in a research note on Wednesday, May 24th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $399.44.

About Cooper Companies

(Free Report)

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, myopia, ocular dryness and eye fatigues in the Americas, Europe, Middle East, Africa, and Asia Pacific.