Plato Investment Management Ltd Purchases Shares of 3,827 The Cooper Companies, Inc. (NASDAQ:COO)

Plato Investment Management Ltd purchased a new stake in The Cooper Companies, Inc. (NASDAQ:COO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,827 shares of the medical device company’s stock, valued at approximately $334,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Cooper Companies by 303.0% in the 1st quarter. Vanguard Group Inc. now owns 23,099,975 shares of the medical device company’s stock valued at $2,343,723,000 after purchasing an additional 17,367,502 shares during the period. Capital World Investors increased its position in shares of Cooper Companies by 301.7% in the first quarter. Capital World Investors now owns 5,654,023 shares of the medical device company’s stock valued at $573,657,000 after acquiring an additional 4,246,519 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Cooper Companies by 279.8% in the first quarter. Janus Henderson Group PLC now owns 3,437,064 shares of the medical device company’s stock valued at $348,723,000 after acquiring an additional 2,532,186 shares during the last quarter. Impax Asset Management Group plc increased its position in shares of Cooper Companies by 31.0% in the second quarter. Impax Asset Management Group plc now owns 2,359,798 shares of the medical device company’s stock valued at $205,511,000 after acquiring an additional 558,886 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Cooper Companies by 305.2% in the first quarter. Bessemer Group Inc. now owns 2,000,910 shares of the medical device company’s stock valued at $203,013,000 after acquiring an additional 1,507,049 shares during the last quarter. Institutional investors and hedge funds own 24.39% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on COO shares. Jefferies Financial Group raised Cooper Companies from a “hold” rating to a “buy” rating and lifted their target price for the company from $107.00 to $115.00 in a research report on Tuesday, July 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a research report on Thursday, August 29th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $115.00 target price (up previously from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. Robert W. Baird lifted their price target on Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Piper Sandler boosted their price target on Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.00.

Insider Buying and Selling at Cooper Companies

In other Cooper Companies news, CAO Agostino Ricupati sold 1,601 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $108.03, for a total value of $172,956.03. Following the transaction, the chief accounting officer now directly owns 4,818 shares of the company’s stock, valued at approximately $520,488.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Agostino Ricupati sold 1,601 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $108.03, for a total transaction of $172,956.03. Following the sale, the chief accounting officer now directly owns 4,818 shares of the company’s stock, valued at approximately $520,488.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Brian G. Andrews sold 24,788 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $105.90, for a total value of $2,625,049.20. Following the sale, the chief financial officer now directly owns 6,614 shares in the company, valued at $700,422.60. The disclosure for this sale can be found here. Insiders have sold a total of 141,381 shares of company stock valued at $14,927,361 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Cooper Companies Stock Performance

Shares of NASDAQ COO opened at $111.23 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.99 and a quick ratio of 1.18. The stock’s fifty day moving average price is $96.10 and its two-hundred day moving average price is $95.21. The Cooper Companies, Inc. has a one year low of $75.93 and a one year high of $112.38. The firm has a market cap of $22.15 billion, a price-to-earnings ratio of 65.43, a P/E/G ratio of 2.60 and a beta of 0.98.

Cooper Companies (NASDAQ:COO) last issued its quarterly earnings data on Wednesday, August 28th. The medical device company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.05. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $997.30 million. During the same period in the prior year, the firm posted $0.84 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts forecast that The Cooper Companies, Inc. will post 3.66 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, and myopia in the Americas, Europe, Middle East, Africa, and Asia Pacific.