Veritas Asset Management LLP Sells 355,060 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

Veritas Asset Management LLP reduced its position in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 8.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,054,818 shares of the medical device company’s stock after selling 355,060 shares during the quarter. Cooper Companies makes up 3.5% of Veritas Asset Management LLP’s investment portfolio, making the stock its 13th largest holding. Veritas Asset Management LLP’s holdings in Cooper Companies were worth $372,759,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of COO. Fulton Bank N.A. raised its stake in Cooper Companies by 3.0% during the 4th quarter. Fulton Bank N.A. now owns 3,718 shares of the medical device company’s stock valued at $342,000 after purchasing an additional 109 shares during the last quarter. Mather Group LLC. increased its position in shares of Cooper Companies by 7.4% during the 4th quarter. Mather Group LLC. now owns 1,926 shares of the medical device company’s stock worth $177,000 after purchasing an additional 133 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Cooper Companies by 15.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the medical device company’s stock worth $93,000 after purchasing an additional 136 shares in the last quarter. Greenleaf Trust grew its holdings in Cooper Companies by 5.0% during the 4th quarter. Greenleaf Trust now owns 2,915 shares of the medical device company’s stock worth $268,000 after acquiring an additional 139 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in Cooper Companies by 22.5% during the 4th quarter. UMB Bank n.a. now owns 773 shares of the medical device company’s stock worth $71,000 after acquiring an additional 142 shares during the last quarter. 24.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Citigroup decreased their price objective on shares of Cooper Companies from $116.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, December 6th. StockNews.com downgraded shares of Cooper Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Wells Fargo & Company raised their target price on shares of Cooper Companies from $115.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Needham & Company LLC restated a “hold” rating on shares of Cooper Companies in a report on Friday, December 6th. Finally, Morgan Stanley lowered their price objective on shares of Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $117.00.

Cooper Companies Stock Up 1.8 %

COO stock opened at $90.06 on Tuesday. The company has a market cap of $17.97 billion, a PE ratio of 46.18, a price-to-earnings-growth ratio of 2.25 and a beta of 1.00. The business has a 50-day simple moving average of $92.86 and a 200 day simple moving average of $99.63. The Cooper Companies, Inc. has a 52 week low of $84.76 and a 52 week high of $112.38. The company has a quick ratio of 1.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.32.

Cooper Companies (NASDAQ:COO) last issued its earnings results on Thursday, December 5th. The medical device company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 earnings per share. Sell-side analysts anticipate that The Cooper Companies, Inc. will post 3.98 EPS for the current fiscal year.

Cooper Companies 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.