XTX Topco Ltd Buys Shares of 35,043 The Cooper Companies, Inc. $COO

XTX Topco Ltd purchased a new position in The Cooper Companies, Inc. (NASDAQ:COO) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 35,043 shares of the medical device company’s stock, valued at approximately $2,494,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in COO. Zions Bancorporation National Association UT purchased a new position in Cooper Companies in the first quarter worth $33,000. J.Safra Asset Management Corp lifted its stake in Cooper Companies by 204.8% during the second quarter. J.Safra Asset Management Corp now owns 506 shares of the medical device company’s stock worth $36,000 after purchasing an additional 340 shares during the last quarter. GKV Capital Management Co. Inc. bought a new stake in Cooper Companies during the first quarter worth about $40,000. Assetmark Inc. boosted its holdings in shares of Cooper Companies by 357.8% in the 2nd quarter. Assetmark Inc. now owns 618 shares of the medical device company’s stock worth $44,000 after purchasing an additional 483 shares in the last quarter. Finally, Allworth Financial LP increased its position in shares of Cooper Companies by 36.6% during the 2nd quarter. Allworth Financial LP now owns 959 shares of the medical device company’s stock valued at $68,000 after purchasing an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Insider Activity

In other Cooper Companies news, COO Gerard H. Warner III bought 1,450 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The stock was bought at an average price of $69.23 per share, for a total transaction of $100,383.50. Following the completion of the acquisition, the chief operating officer directly owned 18,319 shares in the company, valued at $1,268,224.37. The trade was a 8.60% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Daniel G. Mcbride purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was bought at an average price of $65.04 per share, for a total transaction of $195,120.00. Following the acquisition, the chief operating officer owned 63,120 shares of the company’s stock, valued at $4,105,324.80. This represents a 4.99% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders bought 17,975 shares of company stock valued at $1,216,346. 1.98% of the stock is owned by insiders.

Cooper Companies Stock Performance

Cooper Companies stock opened at $77.94 on Thursday. The company has a current ratio of 2.12, a quick ratio of 1.24 and a debt-to-equity ratio of 0.29. The firm has a market cap of $15.50 billion, a P/E ratio of 38.39, a P/E/G ratio of 1.83 and a beta of 1.02. The Cooper Companies, Inc. has a 1-year low of $61.78 and a 1-year high of $106.63. The firm has a 50-day moving average of $70.89 and a 200-day moving average of $71.88.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings results on Wednesday, August 27th. The medical device company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.03. Cooper Companies had a return on equity of 9.82% and a net margin of 10.08%.The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the company posted $0.96 EPS. Cooper Companies’s quarterly revenue was up 5.7% compared to the same quarter last year. Sell-side analysts expect that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

Cooper Companies announced that its Board of Directors has authorized a share repurchase plan on Wednesday, September 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the medical device company to reacquire up to 15.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts recently weighed in on COO shares. Barclays assumed coverage on Cooper Companies in a research report on Monday, October 13th. They issued an “overweight” rating and a $85.00 target price for the company. Piper Sandler decreased their price target on shares of Cooper Companies from $105.00 to $83.00 and set an “overweight” rating on the stock in a research note on Thursday, August 28th. The Goldman Sachs Group set a $64.00 price objective on shares of Cooper Companies and gave the stock a “sell” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. cut their price objective on shares of Cooper Companies from $76.00 to $66.00 and set a “neutral” rating for the company in a research note on Thursday, August 28th. Finally, Weiss Ratings raised shares of Cooper Companies from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Cooper Companies has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

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.