Magnolia Capital Advisors LLC Makes New Investment in The Cooper Companies, Inc. (NASDAQ:COO)

Magnolia Capital Advisors LLC bought a new position in shares of The Cooper Companies, Inc. (NASDAQ:COO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,422 shares of the medical device company’s stock, valued at approximately $211,000.

Other large investors have also recently made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in shares of Cooper Companies during the first quarter worth approximately $2,211,000. Whittier Trust Co. boosted its holdings in Cooper Companies by 298.9% in the first quarter. Whittier Trust Co. now owns 11,940 shares of the medical device company’s stock valued at $1,211,000 after purchasing an additional 8,947 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in 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 valued at $3,076,000 after purchasing an additional 10,616 shares in the last quarter. Gulf International Bank UK Ltd boosted its holdings in Cooper Companies by 300.0% in the first quarter. Gulf International Bank UK Ltd now owns 17,148 shares of the medical device company’s stock valued at $1,739,000 after purchasing an additional 12,861 shares in the last quarter. Finally, Axxcess Wealth Management LLC boosted its holdings in Cooper Companies by 298.4% in the first quarter. Axxcess Wealth Management LLC now owns 8,211 shares of the medical device company’s stock valued at $833,000 after purchasing an additional 6,150 shares in the last quarter. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cooper Companies news, COO Daniel G. Mcbride sold 114,992 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $105.48, for a total value of $12,129,356.16. Following the completion of the transaction, the chief operating officer now owns 44,696 shares in the company, valued at $4,714,534.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Cooper Companies news, COO Daniel G. Mcbride sold 114,992 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $105.48, for a total value of $12,129,356.16. Following the completion of the transaction, the chief operating officer now owns 44,696 shares in the company, valued at $4,714,534.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian G. Andrews sold 24,788 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $105.90, for a total value of $2,625,049.20. Following the completion of the transaction, the chief financial officer now owns 6,614 shares of the company’s stock, valued at approximately $700,422.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 256,373 shares of company stock worth $27,637,427. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on COO shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a report on Thursday, August 29th. Robert W. Baird upped their price target on Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $115.00 price target (up from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. Morgan Stanley increased their price objective on Cooper Companies from $95.00 to $104.00 and gave the company an “equal weight” rating in a report on Tuesday, September 10th. Finally, Jefferies Financial Group raised Cooper Companies from a “hold” rating to a “buy” rating and increased their price objective for the company from $107.00 to $115.00 in a report on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.00.

Cooper Companies Price Performance

Cooper Companies stock opened at $110.34 on Tuesday. The Cooper Companies, Inc. has a 12 month low of $75.93 and a 12 month high of $112.38. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.99 and a quick ratio of 1.18. The business has a 50 day simple moving average of $100.22 and a 200-day simple moving average of $95.78. The stock has a market capitalization of $21.97 billion, a PE ratio of 64.91, a price-to-earnings-growth ratio of 2.63 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, topping the consensus estimate of $0.91 by $0.05. The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $997.30 million. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. Cooper Companies’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 earnings per share. Equities analysts predict that The Cooper Companies, Inc. will post 3.65 earnings per share for the current 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.