Bridgewater Associates LP Sells 11,319 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

Bridgewater Associates LP decreased its holdings in The Cooper Companies, Inc. (NASDAQ:COO) by 27.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,649 shares of the medical device company’s stock after selling 11,319 shares during the period. Bridgewater Associates LP’s holdings in Cooper Companies were worth $3,382,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Ashton Thomas Securities LLC bought a new stake in Cooper Companies in the 3rd quarter valued at $25,000. Innealta Capital LLC purchased a new position in shares of Cooper Companies during the second quarter valued at about $25,000. Covestor Ltd increased its holdings in shares of Cooper Companies by 144.9% in the third 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. Crewe Advisors LLC lifted its position in shares of Cooper Companies by 286.4% in the second quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock worth $30,000 after buying an additional 252 shares in the last quarter. Finally, Tortoise Investment Management LLC boosted its stake in Cooper Companies by 75.4% during the second quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company’s stock valued at $34,000 after buying an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Cooper Companies Trading Up 1.0 %

NASDAQ COO opened at $104.46 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 company has a market capitalization of $20.80 billion, a price-to-earnings ratio of 58.19, a price-to-earnings-growth ratio of 2.24 and a beta of 0.99. The company’s 50-day simple moving average is $105.18 and its two-hundred day simple moving average is $98.60.

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

Insiders Place Their Bets

In related news, CEO Albert G. White III sold 114,992 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $110.53, for a total transaction of $12,710,065.76. Following the completion of the sale, the chief executive officer now owns 165,273 shares of the company’s stock, valued at $18,267,624.69. This represents a 41.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brian G. Andrews sold 24,788 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 6,614 shares of the company’s stock, valued at approximately $700,422.60. This trade represents a 78.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 256,373 shares of company stock worth $27,637,427 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on COO. StockNews.com cut Cooper Companies from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Stifel Nicolaus reiterated a “buy” rating and set a $115.00 price objective (up previously from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. Wells Fargo & Company lifted their price objective 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. Robert W. Baird upped their target price on shares of Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, Morgan Stanley raised their price target 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. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Cooper Companies currently has an average rating of “Moderate Buy” and an average price target 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.