The Cooper Companies, Inc. $COO Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its position in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 18.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 835,763 shares of the medical device company’s stock after purchasing an additional 132,073 shares during the quarter. Russell Investments Group Ltd.’s holdings in Cooper Companies were worth $59,473,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT acquired a new position in Cooper Companies during the 1st quarter valued at approximately $33,000. GKV Capital Management Co. Inc. acquired a new stake in Cooper Companies in the first quarter worth $40,000. J.Safra Asset Management Corp lifted 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 buying an additional 340 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Cooper Companies by 357.8% during 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 period. Finally, Allworth Financial LP boosted its holdings 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 valued at $68,000 after acquiring an additional 257 shares during the period. Institutional investors own 24.39% of the company’s stock.

Cooper Companies Stock Down 0.3%

Shares of NASDAQ:COO opened at $77.94 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.24 and a current ratio of 2.12. The company 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 Cooper Companies, Inc. has a 52 week low of $61.78 and a 52 week high of $106.63. The firm has a 50 day simple moving average of $71.11 and a 200 day simple moving average of $71.93.

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 during the quarter, compared to the consensus estimate of $1.06 billion. Cooper Companies had a return on equity of 9.82% and a net margin of 10.08%.The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.96 EPS. As a group, research analysts expect that The Cooper Companies, Inc. will post 3.98 earnings per share for the current year.

Cooper Companies declared that its Board of Directors has approved a share repurchase program on Wednesday, September 17th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the medical device company to repurchase up to 15.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, COO Gerard H. Warner III bought 1,450 shares of the company’s stock in a transaction on Friday, September 5th. The shares were bought at an average cost of $69.23 per share, with a total value of $100,383.50. Following the transaction, the chief operating officer directly owned 18,319 shares in the company, valued at approximately $1,268,224.37. This trade represents a 8.60% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Albert G. White III acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The shares were acquired at an average cost of $68.39 per share, for a total transaction of $683,900.00. Following the transaction, the chief executive officer owned 226,151 shares of the company’s stock, valued at approximately $15,466,466.89. This represents a 4.63% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 17,975 shares of company stock valued at $1,216,346 in the last three months. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wells Fargo & Company reissued an “equal weight” rating and set a $72.00 target price on shares of Cooper Companies in a research note on Thursday, November 13th. Morgan Stanley set a $76.00 price objective 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 target price on Cooper Companies and gave the company a “sell” rating in a research report on Wednesday, October 1st. Stifel Nicolaus decreased their price target on Cooper Companies from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, August 28th. Finally, Needham & Company LLC reissued a “buy” rating and set a $94.00 price target on shares of Cooper Companies in a report on Thursday, August 28th. One 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Cooper Companies Company Profile

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.