Westpac Banking Corp decreased its position in The Cooper Companies, Inc. (NYSE:COO – Free Report) by 31.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,964 shares of the medical device company’s stock after selling 4,181 shares during the quarter. Westpac Banking Corp’s holdings in Cooper Companies were worth $3,437,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its stake in Cooper Companies by 59.3% during the 2nd quarter. Venturi Wealth Management LLC now owns 86 shares of the medical device company’s stock worth $33,000 after acquiring an additional 32 shares in the last quarter. KB Financial Partners LLC acquired a new stake in shares of Cooper Companies during the first quarter worth about $34,000. Clear Street Markets LLC boosted its stake in shares of Cooper Companies by 93.9% in the first quarter. Clear Street Markets LLC now owns 95 shares of the medical device company’s stock valued at $35,000 after purchasing an additional 46 shares during the period. Colonial Trust Co SC acquired a new position in shares of Cooper Companies in the first quarter valued at approximately $41,000. Finally, Trivant Custom Portfolio Group LLC purchased a new stake in Cooper Companies during the 1st quarter worth approximately $58,000. 96.31% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the stock. Mizuho reissued a “buy” rating and issued a $440.00 price target on shares of Cooper Companies in a research report on Monday, August 28th. Bank of America started coverage on Cooper Companies in a research note on Monday, October 30th. They set a “buy” rating and a $380.00 target price for the company. Morgan Stanley assumed coverage on Cooper Companies in a research report on Thursday, September 28th. They issued an “equal weight” rating and a $410.00 price target on the stock. Redburn Atlantic downgraded Cooper Companies from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $390.00 to $343.00 in a research report on Thursday, October 5th. Finally, StockNews.com began coverage on shares of Cooper Companies in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $401.30.
Cooper Companies Stock Up 0.7 %
COO stock traded up $2.48 during trading on Thursday, hitting $343.99. 29,519 shares of the company’s stock were exchanged, compared to its average volume of 289,771. The business has a 50-day moving average price of $326.51 and a two-hundred day moving average price of $359.56. The company has a current ratio of 1.72, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $17.03 billion, a price-to-earnings ratio of 61.76, a PEG ratio of 2.61 and a beta of 0.94. The Cooper Companies, Inc. has a 52-week low of $301.45 and a 52-week high of $399.62.
Cooper Companies (NYSE:COO – Get Free Report) last released its quarterly earnings data on Wednesday, August 30th. The medical device company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.34 by $0.01. The company had revenue of $930.20 million for the quarter, compared to analysts’ expectations of $899.77 million. Cooper Companies had a net margin of 7.83% and a return on equity of 8.17%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the company earned $3.19 earnings per share. As a group, equities research analysts expect that The Cooper Companies, Inc. will post 12.81 EPS for the current year.
About Cooper Companies
The Cooper Companies, Inc, together with its subsidiaries, develops, manufactures, and markets contact lens wearers. The company operates in two segments, CooperVision and CooperSurgical. The CooperVision segment provides spherical lense, including lenses that correct near and farsightedness; and toric and multifocal lenses comprising lenses correcting vision challenges, such as astigmatism, presbyopia, myopia, ocular dryness and eye fatigues in the Americas, Europe, Middle East, Africa, and Asia Pacific.
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