Mizuho Asset Management Co. Ltd. raised its stake in shares of The Cooper Cos. (NYSE:COO) by 90.4% during the second quarter, Holdings Channel reports. The fund owned 672 shares of the medical device company’s stock after buying an additional 319 shares during the period. Mizuho Asset Management Co. Ltd.’s holdings in The Cooper Cos. were worth $115,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. BlueMountain Capital Management LLC purchased a new position in The Cooper Cos. during the first quarter valued at approximately $113,000. Chilton Capital Management LLC purchased a new position in The Cooper Cos. during the first quarter valued at approximately $203,000. Daiwa Securities Group Inc. boosted its position in The Cooper Cos. by 20.0% in the second quarter. Daiwa Securities Group Inc. now owns 1,200 shares of the medical device company’s stock valued at $206,000 after buying an additional 200 shares during the period. HL Financial Services LLC purchased a new position in The Cooper Cos. during the second quarter valued at approximately $250,000. Finally, Parametrica Management Ltd purchased a new position in The Cooper Cos. during the second quarter valued at approximately $267,000. Hedge funds and other institutional investors own 98.67% of the company’s stock.
Shares of The Cooper Cos. (NYSE:COO) traded down 0.46% on Wednesday, reaching $177.48. The company’s stock had a trading volume of 48,648 shares. The Cooper Cos. has a 52-week low of $119.28 and a 52-week high of $190.99. The company has a market cap of $8.65 billion, a PE ratio of 34.75 and a beta of 0.20. The firm has a 50 day moving average of $184.45 and a 200 day moving average of $168.92.
The Cooper Cos. (NYSE:COO) last announced its quarterly earnings results on Thursday, September 1st. The medical device company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.01. The company earned $514.70 million during the quarter. The Cooper Cos. had a net margin of 13.14% and a return on equity of 14.89%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the company posted $1.97 earnings per share. Analysts predict that The Cooper Cos. will post $8.43 earnings per share for the current year.
Several equities analysts have commented on the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $215.00 price target on shares of The Cooper Cos. in a report on Friday, September 9th. Jefferies Group increased their target price on The Cooper Cos. from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, August 24th. BMO Capital Markets increased their target price on The Cooper Cos. from $199.00 to $206.00 and gave the stock an “outperform” rating in a report on Friday, September 2nd. Wells Fargo & Co. reissued a “hold” rating on shares of The Cooper Cos. in a report on Sunday, September 11th. Finally, Zacks Investment Research cut The Cooper Cos. from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $177.70.
In other news, EVP Albert G. White III sold 20,000 shares of the company’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $185.72, for a total transaction of $3,714,400.00. Following the completion of the transaction, the executive vice president now directly owns 41,639 shares in the company, valued at $7,733,195.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Kalkstein sold 1,000 shares of the company’s stock in a transaction on Friday, July 8th. The stock was sold at an average price of $178.55, for a total transaction of $178,550.00. Following the transaction, the director now owns 14,215 shares of the company’s stock, valued at $2,538,088.25. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
The Cooper Cos. Company Profile
The Cooper Companies, Inc (Cooper) is a medical device company. The Company operates through two business units: CooperVision, Inc (CooperVision) and CooperSurgical, Inc (CooperSurgical). CooperVision develops, manufactures and markets a range of soft contact lenses for the vision correction market. CooperVision offers Biofinity monthly spherical, toric and multifocal lenses under the Avaira brand.
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