Westpac Banking Corp decreased its holdings in shares of Cooper Companies Inc (NYSE:COO) by 2.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,891 shares of the medical device company’s stock after selling 437 shares during the quarter. Westpac Banking Corp’s holdings in Cooper Companies were worth $5,017,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Swiss National Bank boosted its holdings in shares of Cooper Companies by 2.7% during the first quarter. Swiss National Bank now owns 214,000 shares of the medical device company’s stock worth $63,380,000 after purchasing an additional 5,700 shares during the last quarter. Wealthfront Advisers LLC boosted its holdings in shares of Cooper Companies by 31.2% during the first quarter. Wealthfront Advisers LLC now owns 1,536 shares of the medical device company’s stock worth $455,000 after purchasing an additional 365 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Cooper Companies by 3.8% during the second quarter. Signaturefd LLC now owns 875 shares of the medical device company’s stock worth $295,000 after purchasing an additional 32 shares during the last quarter. State Treasurer State of Michigan boosted its holdings in shares of Cooper Companies by 1.4% during the first quarter. State Treasurer State of Michigan now owns 14,228 shares of the medical device company’s stock worth $4,214,000 after purchasing an additional 200 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Cooper Companies by 16.0% during the first quarter. Envestnet Asset Management Inc. now owns 55,589 shares of the medical device company’s stock worth $16,464,000 after purchasing an additional 7,688 shares during the last quarter. Institutional investors and hedge funds own 96.10% of the company’s stock.
Cooper Companies stock traded down $0.57 during midday trading on Friday, reaching $335.39. The stock had a trading volume of 2,664 shares, compared to its average volume of 233,361. Cooper Companies Inc has a twelve month low of $228.65 and a twelve month high of $344.32. The stock has a market capitalization of $16.83 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 2.58 and a beta of 0.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.68 and a current ratio of 1.21. The stock’s 50-day simple moving average is $334.14 and its 200 day simple moving average is $304.39.
Cooper Companies (NYSE:COO) last issued its earnings results on Thursday, May 30th. The medical device company reported $2.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.76 by $0.18. Cooper Companies had a return on equity of 17.25% and a net margin of 16.46%. The firm had revenue of $654.30 million for the quarter, compared to analysts’ expectations of $655.00 million. During the same quarter last year, the firm earned $2.86 earnings per share. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities analysts predict that Cooper Companies Inc will post 12.28 earnings per share for the current fiscal year.
The company also recently announced a Semi-Annual dividend, which was paid on Wednesday, August 7th. Investors of record on Tuesday, July 23rd were issued a $0.03 dividend. The ex-dividend date was Monday, July 22nd. Cooper Companies’s payout ratio is currently 0.52%.
In other Cooper Companies news, VP Randal Golden sold 1,154 shares of the firm’s stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $328.16, for a total value of $378,696.64. Following the transaction, the vice president now directly owns 1,148 shares of the company’s stock, valued at $376,727.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Daniel G. Mcbride sold 11,981 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 42,668 shares in the company, valued at $13,482,661.32. The disclosure for this sale can be found here. Insiders sold 77,678 shares of company stock worth $25,063,536 in the last quarter. 1.70% of the stock is owned by insiders.
Several research firms have recently issued reports on COO. Wells Fargo & Co raised their price objective on Cooper Companies from $356.00 to $365.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Raymond James raised their price objective on Cooper Companies from $325.00 to $364.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. Piper Jaffray Companies raised their price objective on Cooper Companies from $330.00 to $360.00 and gave the stock an “overweight” rating in a report on Tuesday. Zacks Investment Research upgraded Cooper Companies from a “hold” rating to a “buy” rating and set a $336.00 price objective on the stock in a report on Friday, June 7th. Finally, Northcoast Research reiterated a “buy” rating and issued a $340.00 target price (up previously from $331.00) on shares of Cooper Companies in a report on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $322.91.
About Cooper Companies
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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