Kentucky Retirement Systems Lowers Position in The Cooper Companies, Inc. (NASDAQ:COO)

Kentucky Retirement Systems reduced its holdings in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 0.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,978 shares of the medical device company’s stock after selling 115 shares during the quarter. Kentucky Retirement Systems’ holdings in Cooper Companies were worth $1,308,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. grew its stake in Cooper Companies by 248.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the medical device company’s stock worth $25,000 after buying an additional 174 shares during the period. Innealta Capital LLC purchased a new stake in Cooper Companies during the second quarter worth approximately $25,000. Covestor Ltd boosted its stake in shares of Cooper Companies by 305.9% in the first quarter. Covestor Ltd now owns 276 shares of the medical device company’s stock valued at $28,000 after purchasing an additional 208 shares during the period. Crewe Advisors LLC boosted its stake in shares of Cooper Companies by 286.4% in the second quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 252 shares during the period. Finally, Tortoise Investment Management LLC boosted its stake in shares of Cooper Companies by 75.4% in the second quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 169 shares during the period. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on COO. Needham & Company LLC restated a “hold” rating on shares of Cooper Companies in a research note on Thursday, August 29th. Morgan Stanley upped their target price on shares of Cooper Companies from $95.00 to $104.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 10th. Wells Fargo & Company upped their target price on shares of Cooper Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Robert W. Baird upped their target price on shares of Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Jefferies Financial Group raised shares of Cooper Companies from a “hold” rating to a “buy” rating and upped their price target for the company from $107.00 to $115.00 in a report on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.00.

Cooper Companies Stock Down 0.5 %

Shares of NASDAQ:COO opened at $110.49 on Friday. The stock has a market capitalization of $22.00 billion, a price-to-earnings ratio of 64.99, a price-to-earnings-growth ratio of 2.60 and a beta of 0.98. The Cooper Companies, Inc. has a 1-year low of $75.93 and a 1-year high of $112.38. The company’s fifty day moving average is $97.93 and its two-hundred day moving average is $95.50. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.99.

Cooper Companies (NASDAQ:COO) last issued its earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.05. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $997.30 million. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 earnings per share. Equities analysts anticipate that The Cooper Companies, Inc. will post 3.66 EPS for the current year.

Insider Buying and Selling

In related news, COO Daniel G. Mcbride sold 114,992 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $105.48, for a total value of $12,129,356.16. Following the sale, the chief operating officer now owns 44,696 shares of the company’s stock, valued at approximately $4,714,534.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, COO Daniel G. Mcbride sold 114,992 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $105.48, for a total value of $12,129,356.16. Following the sale, the chief operating officer now owns 44,696 shares of the company’s stock, valued at approximately $4,714,534.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brian G. Andrews sold 24,788 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $105.90, for a total transaction of $2,625,049.20. Following the completion of the sale, the chief financial officer now directly owns 6,614 shares in the company, valued at approximately $700,422.60. The disclosure for this sale can be found here. Insiders have sold a total of 256,373 shares of company stock valued at $27,637,427 in the last quarter. Company insiders own 2.00% of the company’s stock.

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