Riverhead Capital Management LLC decreased its stake in Cooper Companies Inc (NYSE:COO) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,257 shares of the medical device company’s stock after selling 228 shares during the period. Riverhead Capital Management LLC’s holdings in Cooper Companies were worth $767,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of COO. Janus Henderson Group PLC boosted its position in shares of Cooper Companies by 23.8% in the second quarter. Janus Henderson Group PLC now owns 2,618,690 shares of the medical device company’s stock worth $616,595,000 after buying an additional 502,783 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Cooper Companies by 11.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,054,418 shares of the medical device company’s stock valued at $719,163,000 after purchasing an additional 323,559 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Cooper Companies in the first quarter valued at about $52,195,000. Findlay Park Partners LLP purchased a new position in Cooper Companies in the second quarter valued at about $53,519,000. Finally, Ceredex Value Advisors LLC purchased a new position in Cooper Companies in the first quarter valued at about $37,336,000. 97.03% of the stock is owned by institutional investors.
NYSE:COO opened at $259.81 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.67 and a current ratio of 2.58. Cooper Companies Inc has a 52 week low of $216.47 and a 52 week high of $266.99. The company has a market cap of $12.55 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 2.04 and a beta of 0.67.
Cooper Companies (NYSE:COO) last released its earnings results on Thursday, August 30th. The medical device company reported $3.00 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.07). Cooper Companies had a return on equity of 17.53% and a net margin of 5.23%. The firm had revenue of $660.00 million for the quarter, compared to the consensus estimate of $653.44 million. research analysts forecast that Cooper Companies Inc will post 11.62 earnings per share for the current fiscal year.
A number of research analysts recently commented on COO shares. Zacks Investment Research downgraded Cooper Companies from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. Oppenheimer set a $270.00 price target on Cooper Companies and gave the company a “hold” rating in a report on Friday, August 31st. ValuEngine raised Cooper Companies from a “sell” rating to a “hold” rating in a report on Friday, June 15th. BMO Capital Markets increased their price target on Cooper Companies from $280.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, August 31st. Finally, TheStreet raised Cooper Companies from a “c+” rating to a “b-” rating in a report on Friday, June 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Cooper Companies currently has an average rating of “Hold” and a consensus target price of $267.20.
In other news, Director Allan E. Rubenstein sold 1,000 shares of the stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $235.13, for a total transaction of $235,130.00. Following the sale, the director now directly owns 4,568 shares in the company, valued at approximately $1,074,073.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert S. Weiss sold 58,543 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $252.82, for a total value of $14,800,841.26. Following the sale, the director now owns 157,710 shares in the company, valued at $39,872,242.20. The disclosure for this sale can be found here. Insiders have sold a total of 68,620 shares of company stock worth $17,191,677 over the last quarter. Insiders own 1.60% of the company’s stock.
Cooper Companies Profile
The Cooper Companies, Inc operates as a medical device company worldwide. It operates through CooperVision and CooperSurgical business units. The company develops, manufactures, and markets a range of contact lenses, including spherical lenses, and toric and multifocal lenses that correct near- and farsightedness, as well as addresses various complex visual defects, such as astigmatism and presbyopia.
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