Insider Selling: The Cooper Companies, Inc. (NASDAQ:COO) CEO Sells $12,710,065.76 in Stock

The Cooper Companies, Inc. (NASDAQ:COO) CEO Albert G. White III sold 114,992 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $110.53, for a total value of $12,710,065.76. Following the sale, the chief executive officer now directly owns 165,273 shares in the company, valued at approximately $18,267,624.69. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Cooper Companies Price Performance

COO opened at $110.49 on Monday. The stock’s 50 day simple moving average is $97.93 and its 200 day simple moving average is $95.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.99 and a quick ratio of 1.18. The Cooper Companies, Inc. has a 1 year low of $75.93 and a 1 year high of $112.38. The firm has a market cap of $22.00 billion, a price-to-earnings ratio of 64.99, a PEG ratio of 2.60 and a beta of 0.98.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share (EPS) 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 business had revenue of $1 billion for the quarter, compared to analyst estimates of $997.30 million. During the same period last year, the company earned $0.84 EPS. Cooper Companies’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, analysts predict that The Cooper Companies, Inc. will post 3.66 earnings per share for the current year.

Institutional Investors Weigh In On Cooper Companies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new stake in Cooper Companies in the 2nd quarter worth approximately $3,043,000. Cetera Investment Advisers lifted its holdings in Cooper Companies by 6.3% in the 2nd quarter. Cetera Investment Advisers now owns 22,244 shares of the medical device company’s stock worth $1,942,000 after buying an additional 1,309 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in Cooper Companies by 113.1% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 2,529 shares of the medical device company’s stock worth $221,000 after buying an additional 1,342 shares during the period. Quarry LP lifted its holdings in Cooper Companies by 1,225.9% in the 2nd quarter. Quarry LP now owns 2,718 shares of the medical device company’s stock worth $237,000 after buying an additional 2,513 shares during the period. Finally, Wallace Advisory Group LLC purchased a new stake in Cooper Companies in the 2nd quarter worth approximately $290,000. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Jefferies Financial Group upgraded Cooper Companies from a “hold” rating to a “buy” rating and upped their target price for the stock from $107.00 to $115.00 in a research note on Tuesday, July 16th. Wells Fargo & Company upped their target price on Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Needham & Company LLC restated a “hold” rating on shares of Cooper Companies in a research note on Thursday, August 29th. Morgan Stanley upped their target price on Cooper Companies from $95.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 10th. Finally, Piper Sandler upped their target price on Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cooper Companies currently has an average rating of “Moderate Buy” and an average price target of $115.00.

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.