Sumitomo Mitsui Trust Group Inc. Raises Stock Position in The Cooper Companies, Inc. (NASDAQ:COO)

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 1.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 443,863 shares of the medical device company’s stock after acquiring an additional 6,489 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Cooper Companies were worth $48,976,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of COO. Vanguard Group Inc. lifted its holdings in Cooper Companies by 303.0% in the 1st quarter. Vanguard Group Inc. now owns 23,099,975 shares of the medical device company’s stock valued at $2,343,723,000 after purchasing an additional 17,367,502 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Cooper Companies by 3.0% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,820,590 shares of the medical device company’s stock worth $682,738,000 after buying an additional 231,155 shares in the last quarter. Capital World Investors boosted its position in Cooper Companies by 301.7% during the first quarter. Capital World Investors now owns 5,654,023 shares of the medical device company’s stock worth $573,657,000 after acquiring an additional 4,246,519 shares during the last quarter. Janus Henderson Group PLC boosted its position in Cooper Companies by 279.8% during the first quarter. Janus Henderson Group PLC now owns 3,437,064 shares of the medical device company’s stock worth $348,723,000 after acquiring an additional 2,532,186 shares during the last quarter. Finally, Impax Asset Management Group plc grew its stake in Cooper Companies by 31.0% during 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 acquiring an additional 558,886 shares in the last quarter. Institutional investors and hedge funds own 24.39% of the company’s stock.

Insider Buying and Selling at Cooper Companies

In other Cooper Companies news, CAO Agostino Ricupati sold 1,601 shares of the stock in a transaction dated 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 owns 4,818 shares of the company’s stock, valued at $520,488.54. This trade represents a 24.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Albert G. White III sold 114,992 shares of Cooper Companies stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $110.53, for a total value of $12,710,065.76. Following the completion of the transaction, the chief executive officer now owns 165,273 shares of the company’s stock, valued at $18,267,624.69. The trade was a 41.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 256,373 shares of company stock valued at $27,637,427 in the last three months. 2.00% of the stock is owned by corporate insiders.

Cooper Companies Stock Performance

Shares of COO stock opened at $99.63 on Friday. The Cooper Companies, Inc. has a one year low of $82.21 and a one year high of $112.38. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.99. The firm’s 50 day moving average price is $106.83 and its 200-day moving average price is $97.93. The firm has a market cap of $19.84 billion, a P/E ratio of 55.50, a P/E/G ratio of 2.20 and a beta of 0.99.

Cooper Companies (NASDAQ:COO) last released its quarterly 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 analysts’ expectations of $997.30 million. During the same period in the prior year, the firm earned $0.84 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts predict that The Cooper Companies, Inc. will post 3.65 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on COO. Needham & Company LLC restated a “hold” rating on shares of Cooper Companies in a report on Thursday, August 29th. Piper Sandler boosted their price objective on Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Stifel Nicolaus restated a “buy” rating and issued a $115.00 target price (up from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. StockNews.com upgraded Cooper Companies from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Robert W. Baird upped their price objective on shares of Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $117.00.

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.