Redpoint Investment Management Pty Ltd Reduces Position in Cooper Companies Inc (COO)
Redpoint Investment Management Pty Ltd lowered its stake in Cooper Companies Inc (NYSE:COO) by 46.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 930 shares of the medical device company’s stock after selling 801 shares during the quarter. Redpoint Investment Management Pty Ltd’s holdings in Cooper Companies were worth $237,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Essex Savings Bank purchased a new position in shares of Cooper Companies during the 4th quarter worth $25,000. Certified Advisory Corp purchased a new position in shares of Cooper Companies during the 4th quarter worth $25,000. Financial Gravity Companies Inc. purchased a new position in shares of Cooper Companies during the 4th quarter worth $46,000. Focused Wealth Management Inc purchased a new position in shares of Cooper Companies during the 4th quarter worth $127,000. Finally, CENTRAL TRUST Co boosted its stake in shares of Cooper Companies by 17.1% during the 4th quarter. CENTRAL TRUST Co now owns 513 shares of the medical device company’s stock worth $131,000 after acquiring an additional 75 shares during the last quarter.
Several research analysts have recently weighed in on the stock. Stephens upgraded shares of Cooper Companies from an “equal weight” rating to an “overweight” rating and set a $305.00 price target on the stock in a research note on Friday, February 1st. Zacks Investment Research cut shares of Cooper Companies from a “hold” rating to a “sell” rating in a research note on Tuesday, February 5th. KeyCorp dropped their price target on shares of Cooper Companies from $298.00 to $296.00 and set an “overweight” rating on the stock in a research note on Friday, December 7th. BMO Capital Markets lifted their price target on shares of Cooper Companies from $294.00 to $306.00 and gave the stock an “outperform” rating in a research note on Friday, December 7th. Finally, Jefferies Financial Group lifted their price target on shares of Cooper Companies to $305.00 and gave the stock a “buy” rating in a research note on Friday, December 7th. Two analysts have rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $289.44.
Shares of COO stock opened at $279.07 on Friday. The firm has a market cap of $13.77 billion, a PE ratio of 24.27, a PEG ratio of 2.19 and a beta of 0.88. Cooper Companies Inc has a one year low of $216.47 and a one year high of $288.51. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.16 and a current ratio of 2.03.
Cooper Companies (NYSE:COO) last announced its quarterly earnings data on Thursday, December 6th. The medical device company reported $2.87 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.96 by ($0.09). The firm had revenue of $651.50 million for the quarter, compared to the consensus estimate of $645.25 million. Cooper Companies had a net margin of 5.52% and a return on equity of 17.70%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.65 earnings per share. On average, equities analysts forecast that Cooper Companies Inc will post 11.54 EPS for the current fiscal year.
The company also recently disclosed a semiannual dividend, which was paid on Friday, February 8th. Stockholders of record on Tuesday, January 22nd were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, January 18th. This represents a dividend yield of 0.02%. Cooper Companies’s payout ratio is 0.52%.
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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