Envestnet Asset Management Inc. Raises Holdings in The Cooper Companies, Inc. (NASDAQ:COO)

Envestnet Asset Management Inc. raised its holdings in The Cooper Companies, Inc. (NASDAQ:COO) by 3.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 758,332 shares of the medical device company’s stock after purchasing an additional 26,787 shares during the quarter. Envestnet Asset Management Inc. owned 0.38% of Cooper Companies worth $66,202,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Treasurer of the State of North Carolina increased its holdings in Cooper Companies by 0.9% in the 4th quarter. Treasurer of the State of North Carolina now owns 22,861 shares of the medical device company’s stock valued at $8,652,000 after purchasing an additional 212 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Cooper Companies by 55.3% in the fourth quarter. Hsbc Holdings PLC now owns 87,718 shares of the medical device company’s stock valued at $33,188,000 after buying an additional 31,234 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Cooper Companies in the 1st quarter valued at $2,211,000. Whittier Trust Co. lifted its stake in Cooper Companies by 298.9% during the 1st quarter. Whittier Trust Co. now owns 11,940 shares of the medical device company’s stock worth $1,211,000 after acquiring an additional 8,947 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in Cooper Companies by 43.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 35,233 shares of the medical device company’s stock valued at $3,076,000 after acquiring an additional 10,616 shares during the period. Institutional investors and hedge funds own 24.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $115.00 price target (up from $110.00) on shares of Cooper Companies in a research note on Thursday, August 29th. Piper Sandler upped their target price on shares of Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Wells Fargo & Company increased their target price on shares of 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 research note on Thursday, August 29th. Finally, Robert W. Baird increased their price objective on Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Cooper Companies has a consensus rating of “Moderate Buy” and an average target price of $115.00.

Cooper Companies Stock Up 0.6 %

Shares of NASDAQ:COO opened at $110.53 on Thursday. The firm has a 50 day simple moving average of $96.59 and a 200-day simple moving average of $95.27. The Cooper Companies, Inc. has a twelve month low of $75.93 and a twelve month high of $112.38. The company has a current ratio of 1.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The company 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.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings data on Wednesday, August 28th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.05. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $997.30 million. During the same quarter in the prior year, the firm posted $0.84 earnings per share. Cooper Companies’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts predict that The Cooper Companies, Inc. will post 3.66 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Agostino Ricupati sold 1,601 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 4,818 shares of the company’s stock, valued at $520,488.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Brian G. Andrews sold 24,788 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 6,614 shares in the company, valued at approximately $700,422.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Agostino Ricupati sold 1,601 shares of the 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 of the company’s stock, valued at $520,488.54. The disclosure for this sale can be found here. Insiders have sold 141,381 shares of company stock worth $14,927,361 in the last quarter. 2.00% of the stock is owned by insiders.

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.