First Trust Advisors LP Raises Stake in Cooper Companies Inc (NYSE:COO)

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First Trust Advisors LP increased its stake in shares of Cooper Companies Inc (NYSE:COO) by 45.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 174,060 shares of the medical device company’s stock after purchasing an additional 54,173 shares during the quarter. First Trust Advisors LP owned approximately 0.35% of Cooper Companies worth $51,551,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Cooper Companies during the 4th quarter worth approximately $117,156,000. Veritas Asset Management LLP raised its position in shares of Cooper Companies by 77.8% in the 1st quarter. Veritas Asset Management LLP now owns 981,302 shares of the medical device company’s stock valued at $290,632,000 after purchasing an additional 429,340 shares in the last quarter. BlackRock Inc. raised its position in shares of Cooper Companies by 7.1% in the 4th quarter. BlackRock Inc. now owns 3,732,729 shares of the medical device company’s stock valued at $949,981,000 after purchasing an additional 246,088 shares in the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of Cooper Companies by 481.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 196,798 shares of the medical device company’s stock valued at $50,085,000 after purchasing an additional 162,980 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Cooper Companies by 4.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,834,318 shares of the medical device company’s stock valued at $839,449,000 after purchasing an additional 112,906 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

In other Cooper Companies news, CFO Brian G. Andrews sold 1,648 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $293.28, for a total value of $483,325.44. Following the transaction, the chief financial officer now directly owns 1,101 shares of the company’s stock, valued at approximately $322,901.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Daniel G. Mcbride sold 11,981 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $315.99, for a total value of $3,785,876.19. Following the transaction, the chief operating officer now directly owns 42,668 shares in the company, valued at approximately $13,482,661.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,954 shares of company stock worth $25,441,629. Insiders own 1.70% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Co boosted their price target on Cooper Companies from $305.00 to $325.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Stephens boosted their price target on Cooper Companies from $305.00 to $320.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. BMO Capital Markets boosted their price target on Cooper Companies from $306.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Northcoast Research reiterated a “buy” rating and issued a $340.00 price target (up from $331.00) on shares of Cooper Companies in a report on Monday, June 3rd. Finally, Zacks Investment Research upgraded Cooper Companies from a “hold” rating to a “buy” rating and set a $336.00 price objective for the company in a research note on Friday, June 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. Cooper Companies presently has a consensus rating of “Buy” and an average price target of $315.36.

Shares of Cooper Companies stock traded down $0.30 during trading on Tuesday, hitting $324.19. The stock had a trading volume of 209,500 shares, compared to its average volume of 344,670. The company has a quick ratio of 0.68, a current ratio of 1.21 and a debt-to-equity ratio of 0.42. The firm has a market cap of $16.06 billion, a price-to-earnings ratio of 28.19, a price-to-earnings-growth ratio of 2.46 and a beta of 0.78. Cooper Companies Inc has a fifty-two week low of $228.65 and a fifty-two week high of $329.88.

Cooper Companies (NYSE:COO) last announced its earnings results on Thursday, May 30th. The medical device company reported $2.94 EPS for the quarter, beating the consensus estimate of $2.76 by $0.18. The business had revenue of $654.30 million during the quarter, compared to the consensus estimate of $655.00 million. Cooper Companies had a return on equity of 17.25% and a net margin of 16.46%. Cooper Companies’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.86 earnings per share. Analysts anticipate that Cooper Companies Inc will post 12.24 earnings per share for the current fiscal year.

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Cooper Companies Company Profile

The Cooper Companies, Inc operates as a medical device company worldwide. It operates through CooperVision and CooperSurgical business units. The company develops, manufactures, and markets a range of contact lenses, including spherical lenses, and toric and multifocal lenses that correct near- and farsightedness, as well as addresses various complex visual defects, such as astigmatism and presbyopia.

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Institutional Ownership by Quarter for Cooper Companies (NYSE:COO)

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