First Mercantile Trust Co. lowered its stake in The Cooper Cos. (NYSE:COO) by 7.4% during the third quarter, Holdings Channel reports. The fund owned 3,721 shares of the medical device company’s stock after selling 298 shares during the period. First Mercantile Trust Co.’s holdings in The Cooper Cos. were worth $667,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fisher Asset Management LLC boosted its position in The Cooper Cos. by 14.8% in the second quarter. Fisher Asset Management LLC now owns 106,914 shares of the medical device company’s stock valued at $19,469,000 after buying an additional 13,800 shares during the last quarter. Hermes Investment Management Ltd. purchased a new position in The Cooper Cos. during the second quarter valued at $20,781,000. Envestnet Asset Management Inc. boosted its position in The Cooper Cos. by 31.4% in the first quarter. Envestnet Asset Management Inc. now owns 14,177 shares of the medical device company’s stock valued at $2,183,000 after buying an additional 3,390 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in The Cooper Cos. during the first quarter valued at $1,678,000. Finally, Commerce Bank boosted its position in The Cooper Cos. by 4.2% in the second quarter. Commerce Bank now owns 137,961 shares of the medical device company’s stock valued at $23,670,000 after buying an additional 5,615 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.
Shares of The Cooper Cos. (NYSE:COO) traded up 1.20% during mid-day trading on Friday, hitting $170.70. The stock had a trading volume of 376,622 shares. The stock has a market cap of $8.32 billion, a P/E ratio of 33.42 and a beta of 0.62. The Cooper Cos. has a 12 month low of $119.28 and a 12 month high of $190.99. The firm has a 50 day moving average price of $176.62 and a 200-day moving average price of $175.54.
The Cooper Cos. (NYSE:COO) last released its quarterly earnings data on Thursday, September 1st. The medical device company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.01. The Cooper Cos. had a return on equity of 14.89% and a net margin of 13.14%. The company had revenue of $514.70 million for the quarter. During the same quarter in the previous year, the firm posted $1.97 earnings per share. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities research analysts forecast that The Cooper Cos. will post $8.43 EPS for the current year.
A number of research analysts recently commented on COO shares. Wells Fargo & Co. restated a “hold” rating on shares of The Cooper Cos. in a research report on Sunday, September 11th. Jefferies Group raised their price target on The Cooper Cos. from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, August 24th. Robert W. Baird raised their price target on The Cooper Cos. from $185.00 to $196.00 and gave the stock an “outperform” rating in a research report on Thursday, August 18th. Stifel Nicolaus raised their price target on The Cooper Cos. from $195.00 to $215.00 and gave the stock a “buy” rating in a research report on Wednesday, August 31st. Finally, Zacks Investment Research cut The Cooper Cos. from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $187.80.
In related news, Director William A. Kozy acquired 270 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The shares were bought at an average cost of $186.69 per share, for a total transaction of $50,406.30. Following the purchase, the director now owns 770 shares in the company, valued at approximately $143,751.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Albert G. White III sold 20,000 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $185.72, for a total value of $3,714,400.00. Following the sale, the executive vice president now owns 41,639 shares in the company, valued at $7,733,195.08. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
The Cooper Cos. Company Profile
The Cooper Companies, Inc (Cooper) is a medical device company. The Company operates through two business units: CooperVision, Inc (CooperVision) and CooperSurgical, Inc (CooperSurgical). CooperVision develops, manufactures and markets a range of soft contact lenses for the vision correction market. CooperVision offers Biofinity monthly spherical, toric and multifocal lenses under the Avaira brand.