BLI Banque de Luxembourg Investments Sells 13,500 Shares of The Cooper Companies, Inc. $COO

BLI Banque de Luxembourg Investments reduced its holdings in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 10.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 110,900 shares of the medical device company’s stock after selling 13,500 shares during the quarter. BLI Banque de Luxembourg Investments owned approximately 0.06% of Cooper Companies worth $7,887,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in COO. Zions Bancorporation National Association UT bought a new position in Cooper Companies during the first quarter worth about $33,000. J.Safra Asset Management Corp raised its stake in Cooper Companies by 204.8% in the second quarter. J.Safra Asset Management Corp now owns 506 shares of the medical device company’s stock valued at $36,000 after purchasing an additional 340 shares in the last quarter. GKV Capital Management Co. Inc. acquired a new position in Cooper Companies during the first quarter valued at approximately $40,000. Assetmark Inc. grew its position in Cooper Companies by 357.8% in the second quarter. Assetmark Inc. now owns 618 shares of the medical device company’s stock valued at $44,000 after acquiring an additional 483 shares during the last quarter. Finally, Allworth Financial LP grew its stake in shares of Cooper Companies by 36.6% during the second quarter. Allworth Financial LP now owns 959 shares of the medical device company’s stock worth $68,000 after buying an additional 257 shares during the last quarter. 24.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COO. Piper Sandler lowered their price objective on Cooper Companies from $105.00 to $83.00 and set an “overweight” rating for the company in a research report on Thursday, August 28th. JPMorgan Chase & Co. decreased their price objective on shares of Cooper Companies from $76.00 to $66.00 and set a “neutral” rating for the company in a report on Thursday, August 28th. Barclays started coverage on shares of Cooper Companies in a report on Monday, October 13th. They issued an “overweight” rating and a $85.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $94.00 price target on shares of Cooper Companies in a report on Thursday, August 28th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $72.00 price target on shares of Cooper Companies in a research report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Cooper Companies presently has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Cooper Companies Stock Down 0.0%

Shares of NASDAQ COO opened at $77.92 on Friday. The company has a quick ratio of 1.24, a current ratio of 2.12 and a debt-to-equity ratio of 0.29. The firm’s fifty day moving average is $71.30 and its 200 day moving average is $71.81. The company has a market cap of $15.49 billion, a price-to-earnings ratio of 38.38, a PEG ratio of 1.83 and a beta of 1.02. The Cooper Companies, Inc. has a 52 week low of $61.78 and a 52 week high of $106.63.

Cooper Companies (NASDAQ:COO) last announced its quarterly earnings results on Wednesday, August 27th. The medical device company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.03. Cooper Companies had a return on equity of 9.82% and a net margin of 10.08%.The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the business earned $0.96 EPS. Cooper Companies’s revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts expect that The Cooper Companies, Inc. will post 3.98 earnings per share for the current year.

Cooper Companies announced that its board has approved a share buyback plan on Wednesday, September 17th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the medical device company to reacquire up to 15.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Cooper Companies news, EVP Brian G. Andrews purchased 1,525 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was bought at an average cost of $65.68 per share, for a total transaction of $100,162.00. Following the purchase, the executive vice president directly owned 22,191 shares in the company, valued at $1,457,504.88. The trade was a 7.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Daniel G. Mcbride acquired 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were acquired at an average cost of $65.04 per share, for a total transaction of $195,120.00. Following the purchase, the chief operating officer directly owned 63,120 shares of the company’s stock, valued at $4,105,324.80. This represents a 4.99% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 17,975 shares of company stock worth $1,216,346 over the last 90 days. Corporate insiders own 1.98% of the company’s stock.

About Cooper Companies

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, and myopia in the Americas, Europe, Middle East, Africa, and Asia Pacific.