State of New Jersey Common Pension Fund D Cuts Position in The Cooper Companies, Inc. (NASDAQ:COO)

State of New Jersey Common Pension Fund D lessened its holdings in The Cooper Companies, Inc. (NASDAQ:COO) by 32.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,367 shares of the medical device company’s stock after selling 33,689 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Cooper Companies were worth $6,143,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of COO. Principal Securities Inc. acquired a new stake in Cooper Companies in the 4th quarter worth about $149,000. Dimensional Fund Advisors LP boosted its holdings in Cooper Companies by 8.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 297,675 shares of the medical device company’s stock worth $112,656,000 after buying an additional 22,884 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Cooper Companies by 1.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 24,319 shares of the medical device company’s stock worth $9,204,000 after buying an additional 241 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Cooper Companies by 10.8% in the 4th quarter. Quadrant Capital Group LLC now owns 613 shares of the medical device company’s stock worth $232,000 after buying an additional 60 shares during the last quarter. Finally, Brown Advisory Inc. acquired a new stake in Cooper Companies in the 4th quarter worth about $243,000. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Cooper Companies Trading Up 1.5 %

COO opened at $110.53 on Monday. The stock has a market capitalization of $22.01 billion, a PE ratio of 65.02, a P/E/G ratio of 2.60 and a beta of 0.98. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.99. The Cooper Companies, Inc. has a one year low of $75.93 and a one year high of $110.69. The business’s 50 day moving average price is $95.59 and its 200 day moving average price is $95.09.

Cooper Companies (NASDAQ:COO) last announced its earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.05. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $997.30 million. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.84 earnings per share. As a group, equities research analysts expect that The Cooper Companies, Inc. will post 3.66 EPS for the current year.

Wall Street Analysts Forecast Growth

COO has been the topic of several research analyst reports. Wells Fargo & Company lifted their price objective on Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Needham & Company LLC restated a “hold” rating on shares of Cooper Companies in a report on Thursday, August 29th. Stifel Nicolaus restated a “buy” rating and set a $115.00 target price (up from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. Piper Sandler boosted their target price on Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Robert W. Baird boosted their target price on Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $115.00.

Insider Buying and Selling at Cooper Companies

In other Cooper Companies news, CFO Brian G. Andrews sold 24,788 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $105.90, for a total value of $2,625,049.20. Following the sale, the chief financial officer now owns 6,614 shares of the company’s stock, valued at $700,422.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Brian G. Andrews sold 24,788 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $105.90, for a total transaction of $2,625,049.20. Following the sale, the chief financial officer now owns 6,614 shares of the company’s stock, valued at $700,422.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Agostino Ricupati sold 1,601 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $108.03, for a total value of $172,956.03. Following the sale, the chief accounting officer now directly owns 4,818 shares in the company, valued at approximately $520,488.54. The disclosure for this sale can be found here. Insiders have sold a total of 141,381 shares of company stock valued at $14,927,361 over the last quarter. 2.00% of the stock is owned by company insiders.

Cooper Companies Company 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.