Point72 Asset Management L.P. acquired a new stake in shares of Cooper Companies Inc (NYSE:COO) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 228,117 shares of the medical device company’s stock, valued at approximately $52,195,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of COO. LPL Financial LLC increased its position in Cooper Companies by 15.1% during the 1st quarter. LPL Financial LLC now owns 5,354 shares of the medical device company’s stock worth $1,225,000 after purchasing an additional 701 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in Cooper Companies by 117.9% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,366 shares of the medical device company’s stock worth $1,225,000 after purchasing an additional 2,903 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Cooper Companies by 13.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 299,669 shares of the medical device company’s stock worth $68,567,000 after purchasing an additional 36,357 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in Cooper Companies during the 1st quarter worth approximately $3,060,000. Finally, Lord Abbett & CO. LLC increased its position in Cooper Companies by 49.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 293,524 shares of the medical device company’s stock worth $67,161,000 after purchasing an additional 97,068 shares in the last quarter. 97.30% of the stock is owned by institutional investors.

A number of research firms recently issued reports on COO. Raymond James dropped their target price on shares of Cooper Companies from $275.00 to $270.00 and set an “outperform” rating for the company in a research report on Tuesday, June 5th. ValuEngine downgraded shares of Cooper Companies from a “hold” rating to a “sell” rating in a research report on Wednesday, June 6th. Oppenheimer set a $265.00 target price on shares of Cooper Companies and gave the stock a “hold” rating in a research report on Friday, June 8th. Zacks Investment Research raised shares of Cooper Companies from a “hold” rating to a “buy” rating and set a $265.00 target price for the company in a research report on Tuesday, May 22nd. Finally, BMO Capital Markets reissued an “outperform” rating and set a $280.00 target price (up previously from $277.00) on shares of Cooper Companies in a research report on Friday, March 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $265.36.

NYSE COO opened at $226.83 on Thursday. The company has a market capitalization of $10.90 billion, a price-to-earnings ratio of 23.38, a P/E/G ratio of 1.75 and a beta of 0.61. Cooper Companies Inc has a fifty-two week low of $216.47 and a fifty-two week high of $260.26. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.76 and a quick ratio of 1.67.

Cooper Companies (NYSE:COO) last released its quarterly earnings results on Thursday, June 7th. The medical device company reported $2.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.84 by $0.02. The firm had revenue of $631.30 million during the quarter, compared to analysts’ expectations of $627.49 million. Cooper Companies had a return on equity of 17.14% and a net margin of 5.58%. Cooper Companies’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.50 EPS. sell-side analysts forecast that Cooper Companies Inc will post 11.82 earnings per share for the current fiscal year.

In other news, Director Michael Kalkstein sold 1,715 shares of the stock in a transaction that occurred on Wednesday, April 11th. The stock was sold at an average price of $221.66, for a total transaction of $380,146.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

About Cooper Companies

The Cooper Companies, Inc operates as a medical device company worldwide. It operates through CooperVision and CooperSurgical business units. The company develops, manufactures, and markets a range of contact lenses, including spherical lenses, and toric and multifocal lenses that correct near- and farsightedness, as well as addresses various complex visual defects, such as astigmatism and presbyopia.

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Institutional Ownership by Quarter for Cooper Companies (NYSE:COO)

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