Metis Global Partners LLC Acquires 583 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

Metis Global Partners LLC boosted its position in The Cooper Companies, Inc. (NASDAQ:COO) by 3.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,982 shares of the medical device company’s stock after purchasing an additional 583 shares during the quarter. Metis Global Partners LLC’s holdings in Cooper Companies were worth $1,763,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of COO. Vanguard Group Inc. raised its position in Cooper Companies by 303.0% during the first quarter. Vanguard Group Inc. now owns 23,099,975 shares of the medical device company’s stock worth $2,343,723,000 after acquiring an additional 17,367,502 shares during the period. Capital World Investors increased 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 purchasing an additional 4,246,519 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Cooper Companies by 279.8% in the 1st quarter. Janus Henderson Group PLC now owns 3,437,064 shares of the medical device company’s stock valued at $348,723,000 after purchasing an additional 2,532,186 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Cooper Companies by 305.2% in the 1st quarter. Bessemer Group Inc. now owns 2,000,910 shares of the medical device company’s stock valued at $203,013,000 after buying an additional 1,507,049 shares during the period. Finally, Swedbank AB acquired a new position in Cooper Companies in the first quarter valued at about $139,246,000. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Insider Buying and Selling

In related news, COO Daniel G. Mcbride sold 114,992 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $105.48, for a total value of $12,129,356.16. Following the completion of the sale, the chief operating officer now directly owns 44,696 shares in the company, valued at approximately $4,714,534.08. The trade was a 72.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Agostino Ricupati sold 1,601 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $108.03, for a total transaction of $172,956.03. Following the transaction, the chief accounting officer now directly owns 4,818 shares in the company, valued at approximately $520,488.54. This represents a 24.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 256,373 shares of company stock worth $27,637,427. 2.00% of the stock is owned by corporate insiders.

Cooper Companies Price Performance

COO stock opened at $99.63 on Friday. The firm has a 50 day moving average of $106.83 and a 200-day moving average of $97.93. 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 $19.84 billion, a price-to-earnings ratio of 55.50, a PEG ratio of 2.20 and a beta of 0.99. The Cooper Companies, Inc. has a 12-month low of $82.21 and a 12-month high of $112.38.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Stifel Nicolaus reissued a “buy” rating and issued 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 raised their target price on Cooper Companies from $95.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 10th. Wells Fargo & Company upped their price objective on shares of Cooper Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. StockNews.com raised shares of Cooper Companies from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a research report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $117.00.

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.