Shell Asset Management Co. boosted its stake in The Cooper Cos. (NYSE:COO) by 97.0% during the second quarter, Holdings Channel reports. The fund owned 16,124 shares of the medical device company’s stock after buying an additional 7,940 shares during the period. Shell Asset Management Co.’s holdings in The Cooper Cos. were worth $2,766,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in COO. BlueMountain Capital Management LLC purchased a new position in shares of The Cooper Cos. during the first quarter valued at about $113,000. Chilton Capital Management LLC purchased a new position in shares of The Cooper Cos. during the first quarter valued at about $203,000. Daiwa Securities Group Inc. raised its position in shares of 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 last quarter. Parametrica Management Ltd purchased a new position in shares of The Cooper Cos. during the second quarter valued at about $267,000. Finally, Bayesian Capital Management LP purchased a new position in shares of The Cooper Cos. during the first quarter valued at about $285,000. Institutional investors and hedge funds own 98.67% of the company’s stock.
Shares of The Cooper Cos. (NYSE:COO) traded down 1.91% on Friday, reaching $180.97. The company had a trading volume of 1,178,174 shares. The stock’s 50 day moving average is $184.66 and its 200 day moving average is $168.22. The Cooper Cos. has a 52 week low of $119.28 and a 52 week high of $190.99. The firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of 35.44 and a beta of 0.20.
The Cooper Cos. (NYSE:COO) last released its quarterly earnings data on Thursday, September 1st. The medical device company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.29 by $0.01. The Cooper Cos. had a net margin of 13.14% and a return on equity of 14.89%. The business earned $514.70 million during the quarter. During the same period last year, the company earned $1.97 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities analysts anticipate that The Cooper Cos. will post $8.43 EPS for the current year.
Several brokerages have issued reports on COO. Wells Fargo & Co. reiterated a “hold” rating on shares of The Cooper Cos. in a report on Friday, June 3rd. Stifel Nicolaus reiterated an “in-line” rating on shares of The Cooper Cos. in a report on Friday, September 2nd. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $185.00 price target on shares of The Cooper Cos. in a report on Tuesday, July 26th. Zacks Investment Research lowered The Cooper Cos. from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Finally, Jefferies Group reissued a “buy” rating and issued a $190.00 price objective (up from $175.00) on shares of The Cooper Cos. in a research note on Thursday, June 2nd. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The Cooper Cos. has a consensus rating of “Buy” and a consensus price target of $177.70.
In other The Cooper Cos. news, Director Stanley Md Zinberg sold 10,000 shares of the stock in a transaction dated Wednesday, June 29th. The shares were sold at an average price of $170.00, for a total transaction of $1,700,000.00. Following the completion of the transaction, the director now owns 899 shares of the company’s stock, valued at approximately $152,830. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Randal Golden sold 2,000 shares of the stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $167.31, for a total transaction of $334,620.00. Following the transaction, the vice president now directly owns 2,044 shares of the company’s stock, valued at approximately $341,981.64. The disclosure for this sale can be found here. Company 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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