Park Avenue Securities LLC Cuts Stock Position in The Cooper Companies, Inc. (NYSE:COO)

Park Avenue Securities LLC cut its holdings in The Cooper Companies, Inc. (NYSE:COOGet Rating) by 14.3% in the third quarter, Holdings Channel reports. The institutional investor owned 1,648 shares of the medical device company’s stock after selling 275 shares during the quarter. Park Avenue Securities LLC’s holdings in Cooper Companies were worth $435,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in COO. CAPROCK Group Inc. purchased a new stake in shares of Cooper Companies during the second quarter worth approximately $221,000. Kentucky Retirement Systems increased its position in shares of Cooper Companies by 16.5% during the second quarter. Kentucky Retirement Systems now owns 3,659 shares of the medical device company’s stock worth $1,146,000 after purchasing an additional 517 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Cooper Companies by 11.1% during the second quarter. SG Americas Securities LLC now owns 2,697 shares of the medical device company’s stock worth $844,000 after purchasing an additional 270 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of Cooper Companies by 15.7% during the second quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 1,684 shares of the medical device company’s stock worth $527,000 after purchasing an additional 229 shares in the last quarter. Finally, United Capital Financial Advisers LLC increased its position in shares of Cooper Companies by 10.5% during the second quarter. United Capital Financial Advisers LLC now owns 1,007 shares of the medical device company’s stock worth $315,000 after purchasing an additional 96 shares in the last quarter. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Jody S. Lindell sold 1,000 shares of the stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $344.30, for a total transaction of $344,300.00. Following the transaction, the director now owns 13,543 shares of the company’s stock, valued at approximately $4,662,854.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Cooper Companies Stock Performance

Shares of Cooper Companies stock opened at $343.73 on Friday. The Cooper Companies, Inc. has a 52 week low of $244.21 and a 52 week high of $430.67. The business’s fifty day simple moving average is $326.30 and its 200-day simple moving average is $305.29. The firm has a market cap of $16.96 billion, a PE ratio of 44.30, a price-to-earnings-growth 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.

Cooper Companies (NYSE:COOGet Rating) last announced its quarterly earnings results on Thursday, December 8th. The medical device company reported $2.75 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.34). Cooper Companies had a net margin of 11.66% and a return on equity of 8.76%. The business had revenue of $848.10 million during the quarter, compared to analyst estimates of $838.88 million. During the same period last year, the company earned $3.28 EPS. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities analysts forecast that The Cooper Companies, Inc. will post 12.47 earnings per share for the current year.

Cooper Companies Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently commented on COO shares. JPMorgan Chase & Co. boosted their price target on Cooper Companies from $300.00 to $330.00 in a research report on Monday, November 28th. StockNews.com initiated coverage on Cooper Companies in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Jefferies Financial Group cut Cooper Companies from a “buy” rating to a “hold” rating and dropped their target price for the company from $400.00 to $295.00 in a report on Tuesday, October 11th. Citigroup upped their target price on Cooper Companies from $348.00 to $368.00 and gave the company a “buy” rating in a report on Monday, December 12th. Finally, Piper Sandler upped their target price on Cooper Companies from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Wednesday, January 11th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $378.10.

Cooper Companies 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.

See Also

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

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