Lord Abbett & CO. LLC Boosts Stake in The Cooper Companies, Inc. (NASDAQ:COO)

Lord Abbett & CO. LLC raised its position in The Cooper Companies, Inc. (NASDAQ:COO) by 6.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 251,402 shares of the medical device company’s stock after purchasing an additional 14,957 shares during the quarter. Lord Abbett & CO. LLC owned 0.13% of Cooper Companies worth $27,740,000 at the end of the most recent quarter.

Several other hedge funds and 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. 24.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cooper Companies

In other Cooper Companies news, CEO Albert G. White III sold 114,992 shares of the firm’s 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 transaction, the chief executive officer now owns 165,273 shares of the company’s stock, valued at $18,267,624.69. This trade represents a 41.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on COO. Wells Fargo & Company boosted their price objective on Cooper Companies from $115.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Morgan Stanley decreased their price target on Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Friday, December 6th. 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. Citigroup lowered their price target on shares of Cooper Companies from $116.00 to $115.00 and set a “buy” rating for the company in a report on Friday, December 6th. Finally, Robert W. Baird lifted their price target on shares of Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” 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. According to MarketBeat.com, Cooper Companies has a consensus rating of “Moderate Buy” and an average target price of $117.00.

Cooper Companies Stock Performance

Shares of COO stock opened at $94.85 on Monday. The stock has a market capitalization of $18.93 billion, a price-to-earnings ratio of 48.64, a PEG ratio of 2.52 and a beta of 0.97. The Cooper Companies, Inc. has a one year low of $84.76 and a one year high of $112.38. The company’s 50-day simple moving average is $103.49 and its 200-day simple moving average is $98.97. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.12 and a current ratio of 1.91.

Cooper Companies (NASDAQ:COO) last released its earnings results on Thursday, December 5th. The medical device company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the business posted $0.87 EPS. Cooper Companies’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts anticipate that The Cooper Companies, Inc. will post 3.98 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.