New York State Teachers Retirement System reduced its holdings in Cooper Companies Inc (NYSE:COO) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,410 shares of the medical device company’s stock after selling 1,009 shares during the quarter. New York State Teachers Retirement System owned approximately 0.15% of Cooper Companies worth $25,068,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in COO. Norges Bank acquired a new position in shares of Cooper Companies in the 4th quarter worth approximately $117,156,000. Veritas Asset Management LLP boosted its holdings in shares of Cooper Companies by 77.8% in the 1st quarter. Veritas Asset Management LLP now owns 981,302 shares of the medical device company’s stock worth $290,632,000 after acquiring an additional 429,340 shares in the last quarter. Swedbank acquired a new position in shares of Cooper Companies in the 2nd quarter worth approximately $100,362,000. Janus Henderson Group PLC boosted its holdings in shares of Cooper Companies by 4.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,834,318 shares of the medical device company’s stock worth $839,449,000 after acquiring an additional 112,906 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of Cooper Companies by 31.8% in the 1st quarter. California Public Employees Retirement System now owns 305,419 shares of the medical device company’s stock worth $90,456,000 after acquiring an additional 73,732 shares in the last quarter. 96.66% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cooper Companies stock traded up $2.04 on Tuesday, hitting $335.00. 123,149 shares of the company’s stock traded hands, compared to its average volume of 278,721. The firm has a 50-day moving average price of $328.16. The company has a market cap of $16.41 billion, a PE ratio of 29.13, a PEG ratio of 2.51 and a beta of 0.84. Cooper Companies Inc has a one year low of $228.65 and a one year high of $343.33. The company has a quick ratio of 0.68, a current ratio of 1.21 and a debt-to-equity ratio of 0.42.
Cooper Companies (NYSE:COO) last issued its earnings results on Thursday, May 30th. The medical device company reported $2.94 EPS for the quarter, beating the consensus estimate of $2.76 by $0.18. The company had revenue of $654.30 million during the quarter, compared to analysts’ expectations of $655.00 million. Cooper Companies had a net margin of 16.46% and a return on equity of 17.25%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.86 EPS. Research analysts expect that Cooper Companies Inc will post 12.27 earnings per share for the current year.
The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Tuesday, July 23rd will be given a dividend of $0.03 per share. The ex-dividend date is Monday, July 22nd. Cooper Companies’s payout ratio is 0.52%.
In related news, COO Daniel G. Mcbride sold 11,981 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $315.99, for a total value of $3,785,876.19. Following the completion of the sale, the chief operating officer now owns 42,668 shares in the company, valued at approximately $13,482,661.32. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael Kalkstein sold 3,500 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $316.28, for a total transaction of $1,106,980.00. The disclosure for this sale can be found here. Insiders have sold a total of 77,678 shares of company stock valued at $25,063,536 in the last quarter. Corporate insiders own 1.70% of the company’s stock.
Several research firms have issued reports on COO. Wells Fargo & Co reaffirmed a “buy” rating on shares of Allergan in a report on Monday, June 10th. Zacks Investment Research downgraded Home Bancshares from a “hold” rating to a “sell” rating in a report on Friday, June 7th. Northcoast Research reaffirmed a “buy” rating and set a $340.00 price objective (up previously from $331.00) on shares of Cooper Companies in a report on Monday, June 3rd. Finally, Raymond James reaffirmed a “buy” rating and set a $26.00 price objective on shares of Propetro in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company’s stock. Cooper Companies presently has an average rating of “Buy” and an average target price of $318.91.
Cooper Companies Company 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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