Hsbc Holdings PLC Boosts Holdings in The Cooper Companies, Inc. (NASDAQ:COO)

Hsbc Holdings PLC boosted its holdings in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 16.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 452,842 shares of the medical device company’s stock after buying an additional 65,488 shares during the quarter. Hsbc Holdings PLC’s holdings in Cooper Companies were worth $39,547,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. grew its position in shares of Cooper Companies by 248.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the medical device company’s stock valued at $25,000 after acquiring an additional 174 shares during the period. Innealta Capital LLC purchased a new position in Cooper Companies during the second quarter valued at $25,000. Covestor Ltd grew its holdings in Cooper Companies by 305.9% during 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 increased its position in Cooper Companies by 286.4% in the second quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock worth $30,000 after buying an additional 252 shares in the last quarter. Finally, Tortoise Investment Management LLC raised 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 worth $34,000 after buying an additional 169 shares during the period. 24.39% of the stock is currently owned by institutional investors.

Cooper Companies Price Performance

NASDAQ:COO opened at $110.49 on Friday. The company has a market capitalization of $22.00 billion, a P/E ratio of 64.99, a P/E/G ratio of 2.60 and a beta of 0.98. The business’s 50-day moving average is $97.54 and its 200 day moving average is $95.48. The company has a current ratio of 1.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The Cooper Companies, Inc. has a 12 month low of $75.93 and a 12 month high of $112.38.

Cooper Companies (NASDAQ:COO) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $997.30 million. During the same period in the prior year, the company earned $0.84 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts forecast that The Cooper Companies, Inc. will post 3.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Agostino Ricupati sold 1,601 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were 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 in the company, valued at approximately $520,488.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Cooper Companies news, CEO Albert G. White III sold 114,992 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $110.53, for a total transaction of $12,710,065.76. Following the transaction, the chief executive officer now owns 165,273 shares in the company, valued at $18,267,624.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Agostino Ricupati sold 1,601 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $108.03, for a total transaction of $172,956.03. Following the completion of the sale, the chief accounting officer now owns 4,818 shares of the company’s stock, valued at approximately $520,488.54. The disclosure for this sale can be found here. Insiders sold 256,373 shares of company stock valued at $27,637,427 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on COO. Robert W. Baird boosted their price objective on Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Piper Sandler increased their price objective on shares of Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Morgan Stanley lifted 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. Jefferies Financial Group upgraded Cooper Companies from a “hold” rating to a “buy” rating and increased their price target for the stock from $107.00 to $115.00 in a research note on Tuesday, July 16th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $115.00 price objective (up from $110.00) on shares of Cooper Companies 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. According to data from MarketBeat.com, Cooper Companies currently has a consensus rating of “Moderate Buy” and an average price target of $115.00.

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.