Huntington National Bank cut its position in The Cooper Cos. (NYSE:COO) by 60.8% during the second quarter, Holdings Channel reports. The fund owned 25,411 shares of the medical device company’s stock after selling 39,456 shares during the period. Huntington National Bank’s holdings in The Cooper Cos. were worth $4,360,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. Hermes Investment Management Ltd. acquired a new stake in The Cooper Cos. during the second quarter worth approximately $20,781,000. Credit Agricole S A increased its stake in The Cooper Cos. by 242.3% in the first quarter. Credit Agricole S A now owns 40,358 shares of the medical device company’s stock worth $6,212,000 after buying an additional 28,569 shares during the last quarter. Bellevue Group AG acquired a new stake in The Cooper Cos. during the first quarter worth approximately $3,618,000. Strs Ohio increased its stake in The Cooper Cos. by 845.8% in the second quarter. Strs Ohio now owns 24,100 shares of the medical device company’s stock worth $4,134,000 after buying an additional 21,552 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in The Cooper Cos. by 7.5% in the first quarter. Geode Capital Management LLC now owns 302,020 shares of the medical device company’s stock worth $46,476,000 after buying an additional 21,134 shares during the last quarter. Institutional investors and hedge funds own 98.67% of the company’s stock.
The Cooper Cos. (NYSE:COO) traded down 0.56% during mid-day trading on Friday, reaching $177.59. 329,109 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $182.99 and a 200-day moving average price of $171.28. The stock has a market cap of $8.66 billion, a P/E ratio of 34.77 and a beta of 0.29. The Cooper Cos. has a 1-year low of $119.28 and a 1-year high of $190.99.
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 for the quarter, beating analysts’ consensus estimates of $2.29 by $0.01. The business had revenue of $514.70 million for the quarter. The Cooper Cos. had a net margin of 13.14% and a return on equity of 14.89%. The business’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.97 earnings per share. Equities research analysts anticipate that The Cooper Cos. will post $8.43 EPS for the current fiscal year.
COO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of The Cooper Cos. in a report on Wednesday, July 13th. They set a “buy” rating on the stock. Stifel Nicolaus boosted their price target on shares of The Cooper Cos. from $180.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, June 30th. Wells Fargo & Co. restated a “hold” rating on shares of The Cooper Cos. in a report on Sunday, September 11th. Jefferies Group boosted their price target on shares of The Cooper Cos. from $190.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, August 24th. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $185.00 price target on shares of The Cooper Cos. in a report on Tuesday, July 26th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $187.40.
In related news, EVP Albert G. White III sold 20,000 shares of the stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $185.72, for a total value of $3,714,400.00. Following the sale, the executive vice president now directly owns 41,639 shares in the company, valued at approximately $7,733,195.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William A. Kozy purchased 270 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was purchased at an average price of $186.69 per share, for a total transaction of $50,406.30. Following the completion of the transaction, the director now directly owns 770 shares in the company, valued at $143,751.30. The disclosure for this purchase can be found here. 2.20% of the stock is currently owned by corporate insiders.
About The Cooper Cos.
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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