Freedom Investment Management Inc. Cuts Stake in The Cooper Companies, Inc. (NASDAQ:COO)

Freedom Investment Management Inc. lessened its holdings in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 12.2% during the 3rd quarter, Holdings Channel reports. The firm owned 2,907 shares of the medical device company’s stock after selling 403 shares during the period. Freedom Investment Management Inc.’s holdings in Cooper Companies were worth $321,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. raised its position in shares of Cooper Companies by 84.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,187 shares of the medical device company’s stock valued at $120,000 after buying an additional 544 shares during the last quarter. Cetera Investment Advisers lifted its stake in Cooper Companies by 1,634.5% in the 1st quarter. Cetera Investment Advisers now owns 20,935 shares of the medical device company’s stock worth $2,124,000 after purchasing an additional 19,728 shares in the last quarter. Cetera Advisors LLC boosted its holdings in shares of Cooper Companies by 717.7% during the 1st quarter. Cetera Advisors LLC now owns 4,751 shares of the medical device company’s stock valued at $482,000 after purchasing an additional 4,170 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Cooper Companies by 309.5% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 17,394 shares of the medical device company’s stock valued at $1,765,000 after purchasing an additional 13,146 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Cooper Companies by 100.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 37,788 shares of the medical device company’s stock worth $3,829,000 after purchasing an additional 18,917 shares during the last quarter. 24.39% of the stock is owned by hedge funds and other institutional investors.

Cooper Companies Stock Performance

Shares of NASDAQ:COO opened at $104.46 on Friday. 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 capitalization of $20.80 billion, a price-to-earnings ratio of 58.19, a PEG ratio of 2.24 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. The firm’s 50-day moving average is $105.18 and its 200 day moving average is $98.60.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on COO. Wells Fargo & Company increased their price target on 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 lowered shares of Cooper Companies from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Robert W. Baird increased their price objective 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. 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. Finally, Needham & Company LLC restated a “hold” rating on shares of Cooper Companies in a research report on Wednesday. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Cooper Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.00.

Insider Buying and Selling at Cooper Companies

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

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.