Quarry LP Cuts Stock Holdings in The Cooper Companies, Inc. (NASDAQ:COO)

Quarry LP trimmed its position in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 56.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,175 shares of the medical device company’s stock after selling 1,543 shares during the period. Quarry LP’s holdings in Cooper Companies were worth $130,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Innealta Capital LLC purchased a new stake in Cooper Companies during the second quarter valued at about $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Cooper Companies during the 3rd quarter worth about $25,000. Crewe Advisors LLC increased its position in Cooper Companies by 286.4% during the 2nd quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock worth $30,000 after purchasing an additional 252 shares in the last quarter. Tortoise Investment Management LLC raised its holdings in Cooper Companies by 75.4% in the second quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company’s stock valued at $34,000 after buying an additional 169 shares during the period. Finally, Covestor Ltd lifted its position in Cooper Companies by 144.9% during the third quarter. Covestor Ltd now owns 338 shares of the medical device company’s stock valued at $37,000 after buying an additional 200 shares in the last quarter. 24.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Robert W. Baird raised their target price on shares of Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. StockNews.com raised Cooper Companies from a “hold” rating to a “buy” rating in a research report on Tuesday. Wells Fargo & Company boosted their price objective on Cooper Companies from $115.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday. Piper Sandler increased their target price on Cooper Companies from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Citigroup reduced their price target on Cooper Companies from $116.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $117.00.

Insider Buying and Selling

In other Cooper Companies news, CEO Albert G. White III sold 114,992 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was 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 of the company’s stock, valued at $18,267,624.69. This trade represents a 41.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Agostino Ricupati sold 1,601 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $108.03, for a total value 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 $520,488.54. This trade represents a 24.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Cooper Companies Stock Performance

Shares of COO opened at $98.70 on Friday. The firm has a market cap of $19.66 billion, a price-to-earnings ratio of 54.83, a PEG ratio of 2.24 and a beta of 0.97. The company has a quick ratio of 1.18, a current ratio of 1.99 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $104.49 and its two-hundred day moving average is $98.79. The Cooper Companies, Inc. has a 52-week low of $82.69 and a 52-week high of $112.38.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings results on Thursday, December 5th. The medical device company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.87 earnings per share. Analysts forecast that The Cooper Companies, Inc. will post 3.65 EPS for the current fiscal year.

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.