Comerica Bank Acquires 293 Shares of The Cooper Companies, Inc. (NYSE:COO)

Comerica Bank boosted its holdings in shares of The Cooper Companies, Inc. (NYSE:COOGet Rating) by 3.5% during the 3rd quarter, Holdings Channel reports. The fund owned 8,620 shares of the medical device company’s stock after buying an additional 293 shares during the period. Comerica Bank’s holdings in Cooper Companies were worth $2,229,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Synovus Financial Corp grew its holdings in Cooper Companies by 5.0% during the 3rd quarter. Synovus Financial Corp now owns 15,302 shares of the medical device company’s stock worth $4,045,000 after acquiring an additional 723 shares in the last quarter. CWM LLC grew its holdings in Cooper Companies by 61.1% during the 3rd quarter. CWM LLC now owns 530 shares of the medical device company’s stock worth $140,000 after acquiring an additional 201 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Cooper Companies by 401.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 25,922 shares of the medical device company’s stock worth $6,841,000 after acquiring an additional 20,749 shares in the last quarter. Covea Finance bought a new position in Cooper Companies during the 3rd quarter worth about $1,399,000. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Cooper Companies by 2.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 3,978 shares of the medical device company’s stock worth $1,049,000 after acquiring an additional 103 shares in the last quarter. 96.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cooper Companies news, Director Jody S. Lindell sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 6th. The shares were sold at an average price of $344.30, for a total transaction of $344,300.00. Following the completion of the transaction, the director now directly owns 13,543 shares of the company’s stock, valued at approximately $4,662,854.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is currently owned by insiders.

Cooper Companies Stock Performance

Shares of Cooper Companies stock opened at $342.39 on Friday. The firm has a market capitalization of $16.90 billion, a P/E ratio of 44.12, a PEG ratio of 2.55 and a beta of 0.91. The company has a quick ratio of 0.71, a current ratio of 1.20 and a debt-to-equity ratio of 0.33. The company has a 50 day moving average price of $325.91 and a 200 day moving average price of $305.19. The Cooper Companies, Inc. has a 52 week low of $244.21 and a 52 week high of $430.67.

Cooper Companies (NYSE:COOGet Rating) last posted its quarterly earnings results on Thursday, December 8th. The medical device company reported $2.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.11 by ($0.36). Cooper Companies had a return on equity of 8.76% and a net margin of 11.66%. The business had revenue of $848.10 million for the quarter, compared to analysts’ expectations of $838.88 million. During the same period in the prior year, the business posted $3.28 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. Sell-side analysts expect that The Cooper Companies, Inc. will post 12.47 EPS for the current year.

Cooper Companies Dividend Announcement

The firm also recently declared a Semi-Annual dividend, which will be paid on Friday, February 10th. Shareholders of record on Monday, January 23rd will be given a dividend of $0.03 per share. The ex-dividend date is Friday, January 20th. Cooper Companies’s dividend payout ratio is presently 0.77%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Cooper Companies from $300.00 to $330.00 in a report on Monday, November 28th. Jefferies Financial Group cut shares of Cooper Companies from a “buy” rating to a “hold” rating and lowered their price target for the company from $400.00 to $295.00 in a report on Tuesday, October 11th. Robert W. Baird lowered their price target on shares of Cooper Companies from $370.00 to $355.00 and set an “outperform” rating on the stock in a report on Friday, December 9th. Piper Sandler raised their price target on shares of Cooper Companies from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Wednesday, January 11th. Finally, Mizuho assumed coverage on shares of Cooper Companies in a report on Thursday, December 22nd. They issued a “buy” rating and a $375.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $378.10.

Cooper Companies Company Profile

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The Cooper Cos, Inc operates as a medical device company. It operates through the Cooper Vision and Cooper Surgical segments. The Cooper Vision segment develops, manufactures, and markets products for contact lens wearers, which solves vision challenges such as astigmatism, presbyopia, myopia, ocular dryness, and eye fatigues.

Further Reading

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Institutional Ownership by Quarter for Cooper Companies (NYSE:COO)

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