Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of The Cooper Cos. (NYSE:COO) by 10.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,691 shares of the medical device company’s stock after buying an additional 360 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in The Cooper Cos. were worth $661,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in COO. BlueMountain Capital Management LLC purchased a new position in shares of The Cooper Cos. during the first quarter valued at about $113,000. Mizuho Asset Management Co. Ltd. boosted its position in shares of The Cooper Cos. by 90.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 672 shares of the medical device company’s stock valued at $115,000 after buying an additional 319 shares during the period. Robecosam AG purchased a new position in shares of The Cooper Cos. during the second quarter valued at about $136,000. Pacer Advisors Inc. boosted its position in shares of The Cooper Cos. by 9.3% in the second quarter. Pacer Advisors Inc. now owns 821 shares of the medical device company’s stock valued at $141,000 after buying an additional 70 shares during the period. Finally, Bremer Trust National Association purchased a new position in shares of The Cooper Cos. during the third quarter valued at about $202,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.
The Cooper Cos. (NYSE:COO) opened at 175.36 on Monday. The stock’s 50 day moving average price is $180.89 and its 200-day moving average price is $172.88. The Cooper Cos. has a one year low of $119.28 and a one year high of $190.99. The stock has a market cap of $8.55 billion, a P/E ratio of 34.34 and a beta of 0.29.
The Cooper Cos. (NYSE:COO) last announced its earnings results on Thursday, September 1st. The medical device company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.29 by $0.01. The business had revenue of $514.70 million for the quarter. The Cooper Cos. had a return on equity of 14.89% and a net margin of 13.14%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.97 earnings per share. On average, analysts predict that The Cooper Cos. will post $8.43 earnings per share for the current year.
Several brokerages have recently issued reports on COO. KeyCorp set a $221.00 price target on The Cooper Cos. and gave the company a “buy” rating in a research report on Saturday, October 1st. JPMorgan Chase & Co. began coverage on The Cooper Cos. in a research report on Wednesday, July 13th. They set a “buy” rating on the stock. Robert W. Baird lifted their price target on The Cooper Cos. from $185.00 to $196.00 and gave the company an “outperform” rating in a research report on Thursday, August 18th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $185.00 price target on shares of The Cooper Cos. in a research report on Tuesday, July 26th. Finally, Jefferies Group lifted their price target on The Cooper Cos. from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, August 24th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $187.40.
In other news, EVP Albert G. White III sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $185.72, for a total value of $3,714,400.00. Following the transaction, the executive vice president now directly owns 41,639 shares of the company’s stock, valued at approximately $7,733,195.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William A. Kozy bought 270 shares of The Cooper Cos. stock in a transaction dated Tuesday, September 6th. The stock was acquired at an average cost of $186.69 per share, for a total transaction of $50,406.30. Following the completion of the acquisition, the director now directly owns 770 shares in the company, valued at $143,751.30. The disclosure for this purchase can be found here. 2.20% of the stock is owned by insiders.
About The Cooper Cos.
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.