The Cooper Companies, Inc. (NYSE:COO) Shares Sold by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB lessened its stake in The Cooper Companies, Inc. (NYSE:COO) by 22.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,800 shares of the medical device company’s stock after selling 15,200 shares during the quarter. Cooper Companies makes up approximately 2.1% of Rhenman & Partners Asset Management AB’s holdings, making the stock its 17th biggest holding. Rhenman & Partners Asset Management AB owned about 0.11% of Cooper Companies worth $20,245,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Colonial Trust Co SC acquired a new stake in shares of Cooper Companies in the 1st quarter valued at about $41,000. First Trust Direct Indexing L.P. raised its stake in Cooper Companies by 4.6% during the second quarter. First Trust Direct Indexing L.P. now owns 1,226 shares of the medical device company’s stock worth $470,000 after acquiring an additional 54 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in Cooper Companies by 163.4% during the second quarter. B. Riley Wealth Advisors Inc. now owns 1,886 shares of the medical device company’s stock worth $723,000 after acquiring an additional 1,170 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in Cooper Companies by 14.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,303 shares of the medical device company’s stock worth $1,266,000 after acquiring an additional 428 shares during the period. Finally, Truist Financial Corp raised its stake in Cooper Companies by 2.9% during the second quarter. Truist Financial Corp now owns 25,712 shares of the medical device company’s stock worth $9,859,000 after acquiring an additional 728 shares during the period. Institutional investors and hedge funds own 96.31% of the company’s stock.

Cooper Companies Price Performance

NYSE:COO traded down $0.23 during trading hours on Tuesday, reaching $337.78. 66,636 shares of the company’s stock were exchanged, compared to its average volume of 290,186. The company has a market capitalization of $16.73 billion, a P/E ratio of 61.12, a price-to-earnings-growth ratio of 2.69 and a beta of 0.94. The Cooper Companies, Inc. has a 12 month low of $302.88 and a 12 month high of $399.62. The company has a quick ratio of 0.99, a current ratio of 1.72 and a debt-to-equity ratio of 0.33. The business’s 50-day simple moving average is $325.72 and its two-hundred day simple moving average is $358.50.

Cooper Companies (NYSE:COO) last issued its earnings results 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 firm had revenue of $930.20 million during 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% compared to the same quarter last year. During the same period last year, the firm posted $3.19 earnings per share. Sell-side analysts expect that The Cooper Companies, Inc. will post 12.81 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on COO shares. StockNews.com started coverage on shares of Cooper Companies in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $420.00 price objective on shares of Cooper Companies in a research note on Thursday, August 31st. Redburn Atlantic cut shares of Cooper Companies from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $390.00 to $343.00 in a research report on Thursday, October 5th. Morgan Stanley started coverage on shares of Cooper Companies in a research report on Thursday, September 28th. They issued an “equal weight” rating and a $410.00 target price for the company. Finally, Mizuho restated a “buy” rating and issued a $440.00 target price on shares of Cooper Companies in a research report on Monday, August 28th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $401.30.

Cooper Companies Company Profile

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.