Bank of Montreal Can Purchases 110,878 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

Bank of Montreal Can raised its position in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 51.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 326,520 shares of the medical device company’s stock after acquiring an additional 110,878 shares during the period. Bank of Montreal Can’s holdings in Cooper Companies were worth $35,845,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Cooper Companies by 43.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 35,233 shares of the medical device company’s stock worth $3,076,000 after purchasing an additional 10,616 shares during the last quarter. Diversify Advisory Services LLC bought a new position in shares of Cooper Companies in the second quarter worth about $501,000. BDF Gestion bought a new position in shares of Cooper Companies in the second quarter worth about $2,919,000. Assenagon Asset Management S.A. grew its holdings in shares of Cooper Companies by 30.9% in the second quarter. Assenagon Asset Management S.A. now owns 535,909 shares of the medical device company’s stock worth $46,785,000 after purchasing an additional 126,371 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Cooper Companies by 23.0% in the third quarter. Victory Capital Management Inc. now owns 3,950,119 shares of the medical device company’s stock worth $435,856,000 after purchasing an additional 737,726 shares during the last quarter. Institutional investors own 24.39% of the company’s stock.

Insider Buying and Selling at Cooper Companies

In other news, CFO Brian G. Andrews sold 24,788 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $105.90, for a total transaction of $2,625,049.20. Following the transaction, the chief financial officer now owns 6,614 shares in the company, valued at $700,422.60. This represents a 78.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Daniel G. Mcbride sold 114,992 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $105.48, for a total transaction of $12,129,356.16. Following the transaction, the chief operating officer now owns 44,696 shares in the company, valued at approximately $4,714,534.08. This trade represents a 72.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 256,373 shares of company stock valued at $27,637,427. 2.00% of the stock is currently owned by insiders.

Cooper Companies Stock Performance

COO stock opened at $103.43 on Friday. The firm has a market cap of $20.60 billion, a price-to-earnings ratio of 57.46, a PEG ratio of 2.21 and a beta of 0.99. The firm has a 50-day simple moving average of $105.45 and a two-hundred day simple moving average of $98.48. The Cooper Companies, Inc. has a one year low of $82.21 and a one year high of $112.38. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.99.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings results on Wednesday, August 28th. The medical device company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.91 by $0.05. The business had revenue of $1 billion during 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%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 earnings per share. On average, equities analysts forecast that The Cooper Companies, Inc. will post 3.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Piper Sandler upped their price target on shares of Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. StockNews.com cut shares of Cooper Companies from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Morgan Stanley upped their price target on shares of Cooper Companies from $95.00 to $104.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 10th. Wells Fargo & Company upped their price objective on shares of Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.00.

About Cooper Companies

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.