PNC Financial Services Group Inc. Increases Holdings in The Cooper Companies, Inc. (NASDAQ:COO)

PNC Financial Services Group Inc. increased its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,385 shares of the medical device company’s stock after purchasing an additional 346 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Cooper Companies were worth $8,093,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Cooper Companies by 4.0% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,627,596 shares of the medical device company’s stock valued at $517,592,000 after acquiring an additional 62,345 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Cooper Companies by 16.5% in the 4th quarter. Victory Capital Management Inc. now owns 995,245 shares of the medical device company’s stock valued at $376,641,000 after acquiring an additional 140,700 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Cooper Companies by 5.9% in the 3rd quarter. Invesco Ltd. now owns 697,045 shares of the medical device company’s stock valued at $221,667,000 after acquiring an additional 39,022 shares during the last quarter. Norges Bank bought a new stake in shares of Cooper Companies in the 4th quarter valued at about $196,045,000. Finally, Northern Trust Corp lifted its stake in shares of Cooper Companies by 3.4% in the 3rd quarter. Northern Trust Corp now owns 510,353 shares of the medical device company’s stock valued at $162,297,000 after acquiring an additional 16,571 shares during the last quarter. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Agostino Ricupati sold 54,724 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $100.89, for a total transaction of $5,521,104.36. Following the transaction, the chief accounting officer now directly owns 5,081 shares of the company’s stock, valued at approximately $512,622.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Gary S. Petersmeyer sold 1,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $103.51, for a total value of $103,510.00. Following the transaction, the director now directly owns 5,668 shares of the company’s stock, valued at approximately $586,694.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Agostino Ricupati sold 54,724 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $100.89, for a total value of $5,521,104.36. Following the completion of the transaction, the chief accounting officer now directly owns 5,081 shares in the company, valued at $512,622.09. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on COO shares. KeyCorp began coverage on Cooper Companies in a research note on Tuesday, February 6th. They issued a “sector weight” rating for the company. JPMorgan Chase & Co. raised Cooper Companies from a “neutral” rating to an “overweight” rating and upped their price target for the company from $100.00 to $120.00 in a research report on Wednesday, March 13th. Piper Sandler upped their price target on Cooper Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $110.00 price target (up previously from $105.00) on shares of Cooper Companies in a research report on Friday, March 1st. Finally, TheStreet lowered Cooper Companies from a “b-” rating to a “c” rating in a research report on Thursday, February 29th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Cooper Companies has an average rating of “Moderate Buy” and a consensus price target of $109.69.

Cooper Companies Stock Performance

Cooper Companies stock opened at $94.44 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.86 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $18.77 billion, a P/E ratio of 64.57, a PEG ratio of 2.45 and a beta of 0.97. The stock’s 50 day moving average is $95.57 and its 200 day moving average is $93.25. The Cooper Companies, Inc. has a twelve month low of $75.93 and a twelve month high of $104.07.

Cooper Companies (NASDAQ:COO) last issued its earnings results on Thursday, February 29th. The medical device company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.78 by $0.07. Cooper Companies had a return on equity of 8.79% and a net margin of 7.93%. The business had revenue of $931.60 million for the quarter, compared to the consensus estimate of $915.93 million. During the same period last year, the business posted $2.90 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts predict that The Cooper Companies, Inc. will post 3.5 earnings per share for the current fiscal year.

Cooper Companies 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, and myopia in the Americas, Europe, Middle East, Africa, and Asia Pacific.