Tower Research Capital LLC TRC increased its position in shares of The Cooper Cos. (NYSE:COO) by 298.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,706 shares of the medical device company’s stock after buying an additional 1,278 shares during the period. Tower Research Capital LLC TRC’s holdings in The Cooper Cos. were worth $293,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in The Cooper Cos. during the fourth quarter worth approximately $52,659,000. Eaton Vance Management boosted its stake in The Cooper Cos. by 2,370.6% in the second quarter. Eaton Vance Management now owns 213,214 shares of the medical device company’s stock worth $36,581,000 after buying an additional 204,584 shares during the period. ClariVest Asset Management LLC bought a new stake in The Cooper Cos. during the second quarter worth approximately $24,579,000. Hermes Investment Management Ltd. bought a new stake in The Cooper Cos. during the second quarter worth approximately $20,781,000. Finally, Torray LLC boosted its stake in The Cooper Cos. by 55.4% in the first quarter. Torray LLC now owns 336,390 shares of the medical device company’s stock worth $51,794,000 after buying an additional 119,875 shares during the period. Institutional investors and hedge funds own 98.67% of the company’s stock.
The Cooper Cos. (NYSE:COO) opened at 186.41 on Wednesday. The stock’s 50 day moving average is $184.48 and its 200-day moving average is $167.76. The Cooper Cos. has a 52-week low of $119.28 and a 52-week high of $190.99. The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of 36.50 and a beta of 0.20.
The Cooper Cos. (NYSE:COO) last issued its earnings results on Thursday, September 1st. The medical device company reported $2.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $514.70 million for the quarter. During the same quarter in the prior year, the business posted $1.97 EPS. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. Equities research analysts anticipate that The Cooper Cos. will post $8.43 EPS for the current fiscal year.
A number of equities research analysts recently commented on the stock. 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 lifted their price target on shares of 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 lifted their price target on shares of 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. reaffirmed a “hold” rating on shares of The Cooper Cos. in a report on Sunday, September 11th. Finally, Zacks Investment Research cut shares of The Cooper Cos. from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $177.70.
In related news, CEO Robert S. Weiss sold 151,839 shares of the firm’s stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $163.02, for a total value of $24,752,793.78. Following the sale, the chief executive officer now owns 200,617 shares in the company, valued at $32,704,583.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Allan E. Rubenstein sold 2,150 shares of the firm’s stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $165.63, for a total transaction of $356,104.50. Following the completion of the sale, the director now owns 9,995 shares in the company, valued at approximately $1,655,471.85. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.
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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