Cooper Companies Inc (COO) Stake Lessened by Employees Retirement System of Texas
Employees Retirement System of Texas trimmed its holdings in Cooper Companies Inc (NYSE:COO) by 80.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,000 shares of the medical device company’s stock after selling 12,000 shares during the period. Employees Retirement System of Texas’ holdings in Cooper Companies were worth $654,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new stake in shares of Cooper Companies in the third quarter valued at approximately $163,000. FNY Managed Accounts LLC acquired a new stake in shares of Cooper Companies in the fourth quarter valued at approximately $217,000. CAPROCK Group Inc. acquired a new stake in shares of Cooper Companies in the fourth quarter valued at approximately $222,000. Ballentine Partners LLC acquired a new stake in shares of Cooper Companies in the third quarter valued at approximately $223,000. Finally, Everence Capital Management Inc. acquired a new stake in shares of Cooper Companies in the fourth quarter valued at approximately $253,000. 95.04% of the stock is owned by institutional investors.
COO has been the subject of a number of recent analyst reports. Zacks Investment Research raised Cooper Companies from a “hold” rating to a “buy” rating and set a $257.00 price objective for the company in a research report on Tuesday, November 14th. Raymond James Financial reaffirmed a “buy” rating and issued a $265.00 price objective on shares of Cooper Companies in a research report on Monday, December 4th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $265.00 price objective (down from $275.00) on shares of Cooper Companies in a research report on Friday, December 8th. Oppenheimer set a $250.00 price objective on Cooper Companies and gave the company a “hold” rating in a research report on Friday, December 8th. Finally, Cleveland Research cut Cooper Companies from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Cooper Companies currently has a consensus rating of “Hold” and an average price target of $259.70.
Cooper Companies (NYSE:COO) last released its quarterly earnings results on Thursday, December 7th. The medical device company reported $2.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.64 by $0.01. The business had revenue of $561.50 million during the quarter, compared to analysts’ expectations of $558.86 million. Cooper Companies had a return on equity of 16.02% and a net margin of 17.43%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm posted $2.28 EPS. analysts predict that Cooper Companies Inc will post 11.57 earnings per share for the current year.
The company also recently declared a semiannual dividend, which was paid on Friday, February 9th. Investors of record on Tuesday, January 23rd were issued a dividend of $0.03 per share. The ex-dividend date was Monday, January 22nd. This represents a yield of 0.03%. Cooper Companies’s payout ratio is currently 0.80%.
In other Cooper Companies news, Director Stanley Md Zinberg sold 5,000 shares of Cooper Companies stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $224.66, for a total value of $1,123,300.00. Following the completion of the transaction, the director now directly owns 6,090 shares of the company’s stock, valued at approximately $1,368,179.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert S. Weiss sold 32,500 shares of Cooper Companies stock in a transaction on Monday, December 18th. The shares were sold at an average price of $224.70, for a total value of $7,302,750.00. Following the completion of the transaction, the chief executive officer now directly owns 119,111 shares of the company’s stock, valued at $26,764,241.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,385 shares of company stock valued at $12,289,463. 1.60% of the stock is currently owned by insiders.
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About Cooper Companies
The Cooper Companies, Inc is a global medical device company. The Company operates through two business units: CooperVision, Inc and CooperSurgical, Inc CooperVision offers soft contact lenses for the vision correction market. CooperVision develops, manufactures and markets a range of single-use, two-week and monthly contact lenses.
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