Today: UBS Asset Management Americas Inc. reduces its investment in The Cooper Cos. (COO)

Today: UBS Asset Management Americas Inc. reduces its investment in The Cooper Cos. (COO)

UBS Asset Management Americas Inc. decreased its stake in The Cooper Cos. (NYSE:COO) by 42.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 604,203 shares of the medical device company’s stock after selling 438,130 shares during the period. UBS Asset Management Americas Inc. owned 1.24% of The Cooper Cos. worth $108,309,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its stake 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. bought a new position in shares of The Cooper Cos. during the second quarter valued at $20,781,000. Commerce Bank boosted its position in shares of 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 in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of 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 in the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new position in shares of The Cooper Cos. during the first quarter valued at $1,678,000. 98.06% of the stock is owned by institutional investors and hedge funds.

Shares of The Cooper Cos. (NYSE:COO) traded down 0.395% during midday trading on Monday, reaching $170.025. The company had a trading volume of 129,693 shares. The company has a 50 day moving average of $176.62 and a 200 day moving average of $175.55. The Cooper Cos. has a one year low of $119.28 and a one year high of $190.99. The company has a market capitalization of $8.29 billion, a PE ratio of 33.293 and a beta of 0.62.

The Cooper Cos. (NYSE:COO) last posted its earnings results on Thursday, September 1st. The medical device company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.01. The firm 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 company’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.97 EPS. Analysts predict that The Cooper Cos. will post $8.43 EPS for the current fiscal year.

Several equities analysts have weighed in on COO shares. Stifel Nicolaus lifted their price objective on The Cooper Cos. from $195.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday, August 31st. Jefferies Group lifted their price objective on The Cooper Cos. from $190.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, August 24th. Zacks Investment Research raised The Cooper Cos. from a “hold” rating to a “buy” rating and set a $198.00 price objective for the company in a report on Wednesday, October 5th. KeyCorp set a $221.00 price objective on The Cooper Cos. and gave the company a “buy” rating in a report on Saturday, October 1st. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of The Cooper Cos. in a report on Sunday, September 11th. Four investment analysts have rated the stock with a hold rating and ten have assigned 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, EVP Albert G. White III sold 20,000 shares of the stock in a transaction 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 sale, the executive vice president now owns 41,639 shares in the company, valued at $7,733,195.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William A. Kozy acquired 270 shares of the stock in a transaction that occurred on Tuesday, September 6th. The stock was acquired at an average price of $186.69 per share, for a total transaction of $50,406.30. Following the transaction, the director now directly owns 770 shares of the company’s stock, valued at approximately $143,751.30. The disclosure for this purchase can be found here. 2.20% of the stock is owned by corporate insiders.

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.

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