Rhumbline Advisers Purchases 3,531 Shares of The Cooper Companies, Inc. $COO

Rhumbline Advisers boosted its position in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 392,491 shares of the medical device company’s stock after acquiring an additional 3,531 shares during the period. Rhumbline Advisers owned 0.20% of Cooper Companies worth $27,930,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in COO. Cetera Investment Advisers lifted its stake in shares of Cooper Companies by 1.7% during the first quarter. Cetera Investment Advisers now owns 24,461 shares of the medical device company’s stock worth $2,063,000 after buying an additional 412 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Cooper Companies by 17.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,727 shares of the medical device company’s stock worth $3,857,000 after buying an additional 6,894 shares in the last quarter. LPL Financial LLC grew its position in shares of Cooper Companies by 4.7% during the 1st quarter. LPL Financial LLC now owns 148,261 shares of the medical device company’s stock valued at $12,506,000 after acquiring an additional 6,657 shares during the period. Mackenzie Financial Corp increased its position in shares of Cooper Companies by 10.4% in the first quarter. Mackenzie Financial Corp now owns 21,972 shares of the medical device company’s stock valued at $1,853,000 after buying an additional 2,062 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. increased its holdings in Cooper Companies by 28.5% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 13,722 shares of the medical device company’s stock worth $1,157,000 after acquiring an additional 3,041 shares in the last quarter. Institutional investors and hedge funds own 24.39% of the company’s stock.

Insider Transactions at Cooper Companies

In related news, EVP Brian G. Andrews acquired 1,525 shares of Cooper Companies stock in a transaction on Tuesday, September 2nd. The stock was purchased at an average cost of $65.68 per share, with a total value of $100,162.00. Following the purchase, the executive vice president directly owned 22,191 shares in the company, valued at approximately $1,457,504.88. The trade was a 7.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Albert G. White III acquired 10,000 shares of the business’s stock in a transaction on Friday, September 5th. The shares were purchased at an average price of $68.39 per share, with a total value of $683,900.00. Following the transaction, the chief executive officer owned 226,151 shares in the company, valued at $15,466,466.89. The trade was a 4.63% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 17,975 shares of company stock worth $1,216,346 over the last three months. 1.98% of the stock is currently owned by company insiders.

Cooper Companies Price Performance

Shares of COO opened at $77.94 on Thursday. The stock has a market cap of $15.50 billion, a PE ratio of 38.39, a price-to-earnings-growth ratio of 1.83 and a beta of 1.02. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.12 and a quick ratio of 1.24. The Cooper Companies, Inc. has a 1-year low of $61.78 and a 1-year high of $106.63. The firm has a fifty day moving average price of $70.89 and a 200 day moving average price of $71.88.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings results on Wednesday, August 27th. The medical device company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.07 by $0.03. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates 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 was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 earnings per share. As a group, sell-side analysts anticipate that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

Cooper Companies declared that its Board of Directors has initiated a share buyback plan on Wednesday, September 17th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the medical device company to repurchase up to 15.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on COO. Piper Sandler decreased their target price on Cooper Companies from $105.00 to $83.00 and set an “overweight” rating on the stock in a research report on Thursday, August 28th. JPMorgan Chase & Co. decreased their price objective on Cooper Companies from $76.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, August 28th. Weiss Ratings upgraded shares of Cooper Companies from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday. Morgan Stanley set a $76.00 target price on Cooper Companies and gave the stock an “equal weight” rating in a research note on Thursday, August 28th. Finally, Robert W. Baird decreased their price target on shares of Cooper Companies from $97.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.77.

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.