Simplify Asset Management Inc. Lowers Stock Position in The Cooper Companies, Inc. (NASDAQ:COO)

Simplify Asset Management Inc. lessened its position in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 67.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,338 shares of the medical device company’s stock after selling 42,060 shares during the period. Simplify Asset Management Inc.’s holdings in Cooper Companies were worth $1,776,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Cooper Companies by 303.0% in the first quarter. Vanguard Group Inc. now owns 23,099,975 shares of the medical device company’s stock worth $2,343,723,000 after acquiring an additional 17,367,502 shares in the last quarter. Capital World Investors increased its holdings in shares of Cooper Companies by 301.7% in the 1st 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 boosted its holdings in shares of Cooper Companies by 279.8% in the 1st quarter. Janus Henderson Group PLC now owns 3,437,064 shares of the medical device company’s stock valued at $348,723,000 after buying an additional 2,532,186 shares during the period. Bessemer Group Inc. grew its position in shares of Cooper Companies by 305.2% during the 1st quarter. Bessemer Group Inc. now owns 2,000,910 shares of the medical device company’s stock valued at $203,013,000 after buying an additional 1,507,049 shares during the last quarter. Finally, Swedbank AB acquired a new stake in Cooper Companies during the first quarter worth about $139,246,000. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on COO. Needham & Company LLC reiterated 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 from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. Jefferies Financial Group upgraded shares of Cooper Companies from a “hold” rating to a “buy” rating and upped their price target for the stock from $107.00 to $115.00 in a research report on Tuesday, July 16th. Piper Sandler raised their target price on Cooper Companies from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, Robert W. Baird increased their target price on shares of Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.00.

Insider Buying and Selling

In related news, COO Daniel G. Mcbride sold 114,992 shares of Cooper Companies stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $105.48, for a total transaction of $12,129,356.16. Following the sale, the chief operating officer now directly owns 44,696 shares of the company’s stock, valued at $4,714,534.08. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 owns 4,818 shares in the company, valued at $520,488.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Daniel G. Mcbride sold 114,992 shares of Cooper Companies 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 completion of the transaction, the chief operating officer now directly owns 44,696 shares of the company’s stock, valued at $4,714,534.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 141,381 shares of company stock valued at $14,927,361. Insiders own 2.00% of the company’s stock.

Cooper Companies Price Performance

NASDAQ COO opened at $111.10 on Friday. The firm has a market cap of $22.12 billion, a P/E ratio of 65.35, a price-to-earnings-growth ratio of 2.60 and a beta of 0.98. The stock’s 50-day moving average is $97.09 and its two-hundred day moving average is $95.37. The Cooper Companies, Inc. has a fifty-two week low of $75.93 and a fifty-two week high of $112.38. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.99 and a quick ratio of 1.18.

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