The Cooper Companies, Inc. $COO Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,187,675 shares of the medical device company’s stock after acquiring an additional 12,656 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.59% of Cooper Companies worth $84,515,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in COO. Horizon Investments LLC lifted its position in shares of Cooper Companies by 5.0% during the first quarter. Horizon Investments LLC now owns 2,859 shares of the medical device company’s stock worth $241,000 after purchasing an additional 136 shares in the last quarter. Wealth Alliance LLC increased its stake in Cooper Companies by 4.2% during the 2nd quarter. Wealth Alliance LLC now owns 4,230 shares of the medical device company’s stock worth $301,000 after buying an additional 171 shares during the period. State of Michigan Retirement System lifted its holdings in Cooper Companies by 0.4% in the 2nd quarter. State of Michigan Retirement System now owns 54,344 shares of the medical device company’s stock worth $3,867,000 after buying an additional 200 shares in the last quarter. New York Life Investment Management LLC lifted its holdings in Cooper Companies by 0.7% in the 2nd quarter. New York Life Investment Management LLC now owns 30,019 shares of the medical device company’s stock worth $2,136,000 after buying an additional 210 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Cooper Companies by 3.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,517 shares of the medical device company’s stock valued at $550,000 after buying an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Cooper Companies Price Performance

Shares of COO opened at $77.92 on Friday. The Cooper Companies, Inc. has a 52 week low of $61.78 and a 52 week high of $106.63. The company has a current ratio of 2.12, a quick ratio of 1.24 and a debt-to-equity ratio of 0.29. The firm 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 stock has a 50 day moving average of $71.30 and a 200-day moving average of $71.81.

Cooper Companies (NASDAQ:COO) last announced its quarterly earnings data on Wednesday, August 27th. The medical device company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.03. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Cooper Companies had a return on equity of 9.82% and a net margin of 10.08%.The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the business posted $0.96 earnings per share. As a group, analysts forecast that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

Cooper Companies declared that its board has approved a stock buyback plan on Wednesday, September 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the medical device company to purchase up to 15.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on COO. Morgan Stanley set a $76.00 target price on Cooper Companies and gave the stock an “equal weight” rating in a research report on Thursday, August 28th. The Goldman Sachs Group set a $64.00 price objective on Cooper Companies and gave the company a “sell” rating in a research note on Wednesday, October 1st. JPMorgan Chase & Co. cut their target price on Cooper Companies from $76.00 to $66.00 and set a “neutral” rating on the stock in a research report on Thursday, August 28th. Stifel Nicolaus decreased their price target on shares of Cooper Companies from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, August 28th. Finally, Piper Sandler dropped their price target on shares of Cooper Companies from $105.00 to $83.00 and set an “overweight” rating for the company in a research note on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Insider Activity at Cooper Companies

In other Cooper Companies news, Director Lawrence Erik Kurzius purchased 2,000 shares of Cooper Companies stock in a transaction dated Monday, September 29th. The shares were bought at an average cost of $68.39 per share, for a total transaction of $136,780.00. Following the transaction, the director owned 5,777 shares in the company, valued at $395,089.03. This represents a 52.95% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Daniel G. Mcbride purchased 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was acquired at an average cost of $65.04 per share, with a total value of $195,120.00. Following the completion of the acquisition, the chief operating officer directly owned 63,120 shares in the company, valued at approximately $4,105,324.80. This trade represents a 4.99% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 17,975 shares of company stock valued at $1,216,346 in the last ninety days. 1.98% of the stock is owned by insiders.

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.