Brown Brothers Harriman & Co. Boosts Stake in The Cooper Companies, Inc. (NASDAQ:COO)

Brown Brothers Harriman & Co. raised its position in The Cooper Companies, Inc. (NASDAQ:COO) by 191.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 419 shares of the medical device company’s stock after purchasing an additional 275 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Cooper Companies were worth $46,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Point72 Asset Management L.P. raised its holdings in Cooper Companies by 480.1% in the second quarter. Point72 Asset Management L.P. now owns 937,806 shares of the medical device company’s stock valued at $81,870,000 after buying an additional 776,140 shares during the period. Victory Capital Management Inc. raised its stake in shares of Cooper Companies by 23.0% in the 3rd quarter. Victory Capital Management Inc. now owns 3,950,119 shares of the medical device company’s stock valued at $435,856,000 after acquiring an additional 737,726 shares during the period. Magnetar Financial LLC acquired a new position in shares of Cooper Companies during the 2nd quarter valued at $63,822,000. TD Asset Management Inc purchased a new stake in Cooper Companies during the 2nd quarter worth $53,045,000. Finally, Impax Asset Management Group plc increased its holdings in Cooper Companies by 31.0% in the 2nd quarter. Impax Asset Management Group plc now owns 2,359,798 shares of the medical device company’s stock valued at $205,511,000 after purchasing an additional 558,886 shares in the last quarter. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Insider Activity at Cooper Companies

In related news, COO Daniel G. Mcbride sold 114,992 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $105.48, for a total transaction of $12,129,356.16. Following the sale, the chief operating officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Agostino Ricupati sold 1,601 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $108.03, for a total transaction of $172,956.03. Following the completion of the transaction, the chief accounting officer now directly owns 4,818 shares in the company, valued at $520,488.54. This represents a 24.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 256,373 shares of company stock valued at $27,637,427. Corporate insiders own 2.00% of the company’s stock.

Cooper Companies Stock Performance

Shares of COO stock opened at $103.43 on Friday. The stock has a market capitalization of $20.60 billion, a price-to-earnings ratio of 57.46, a PEG ratio of 2.21 and a beta of 0.99. The Cooper Companies, Inc. has a one year low of $82.21 and a one year high of $112.38. The company’s 50-day simple moving average is $105.45 and its 200-day simple moving average is $98.48. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.99.

Cooper Companies (NASDAQ:COO) last released its earnings results on Wednesday, August 28th. The medical device company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.05. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $997.30 million. During the same quarter last year, the business posted $0.84 EPS. Cooper Companies’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities analysts anticipate that The Cooper Companies, Inc. will post 3.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Stifel Nicolaus restated a “buy” rating and set a $115.00 price objective (up previously from $110.00) on shares of Cooper Companies in a research note on Thursday, August 29th. Morgan Stanley upped their price target on Cooper Companies from $95.00 to $104.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 10th. Robert W. Baird lifted their price objective on shares of Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. StockNews.com downgraded shares of Cooper Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company lifted their price target on shares of Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Cooper Companies presently has an average rating of “Moderate Buy” and a consensus target price of $117.00.

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.