The Manufacturers Life Insurance Company Acquires 19,342 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

The Manufacturers Life Insurance Company boosted its holdings in The Cooper Companies, Inc. (NASDAQ:COO) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 854,855 shares of the medical device company’s stock after buying an additional 19,342 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.43% of Cooper Companies worth $94,325,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in COO. Innealta Capital LLC bought a new position in Cooper Companies in the 2nd quarter valued at approximately $25,000. Ashton Thomas Securities LLC bought a new position in Cooper Companies in the 3rd quarter valued at approximately $25,000. Crewe Advisors LLC raised its holdings 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 during the last quarter. Tortoise Investment Management LLC raised its holdings in Cooper Companies by 75.4% during the 2nd quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company’s stock worth $34,000 after purchasing an additional 169 shares during the last quarter. Finally, Covestor Ltd raised its holdings in Cooper Companies by 144.9% during the 3rd quarter. Covestor Ltd now owns 338 shares of the medical device company’s stock worth $37,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 24.39% of the company’s stock.

Wall Street Analysts Forecast Growth

COO has been the subject of several analyst reports. Wells Fargo & Company raised their price target 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. Robert W. Baird raised their price target on shares of Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Morgan Stanley raised their price target on shares of Cooper Companies from $95.00 to $104.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 10th. StockNews.com lowered shares of Cooper Companies from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Piper Sandler lifted their price objective on shares of Cooper Companies from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Cooper Companies currently has a consensus rating of “Moderate Buy” and an average price target of $117.00.

Insider Activity at Cooper Companies

In other Cooper Companies news, CFO Brian G. Andrews sold 24,788 shares of Cooper Companies stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $105.90, for a total transaction of $2,625,049.20. Following the transaction, the chief financial officer now directly owns 6,614 shares of the company’s stock, valued at $700,422.60. The trade was a 78.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Daniel G. Mcbride sold 114,992 shares of Cooper Companies stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $105.48, for a total transaction of $12,129,356.16. Following the transaction, the chief operating officer now directly owns 44,696 shares in the company, valued at $4,714,534.08. This represents a 72.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 256,373 shares of company stock valued at $27,637,427. 2.00% of the stock is owned by company insiders.

Cooper Companies Stock Performance

NASDAQ COO opened at $103.43 on Thursday. The company has a fifty day simple moving average of $105.59 and a 200 day simple moving average of $98.45. The Cooper Companies, Inc. has a 12-month low of $82.21 and a 12-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 cap of $20.60 billion, a P/E ratio of 57.46, a PEG ratio of 2.21 and a beta of 0.99.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings results 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 business had revenue of $1 billion during the quarter, compared to the consensus estimate of $997.30 million. During the same quarter last year, the firm posted $0.84 EPS. Cooper Companies’s revenue was up 7.8% compared to the same quarter last year. Sell-side analysts predict that The Cooper Companies, Inc. will post 3.65 earnings per share for the current fiscal year.

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.