BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Lowers Stock Position in The Cooper Companies, Inc. (NASDAQ:COO)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 12.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,218 shares of the medical device company’s stock after selling 4,847 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Cooper Companies were worth $3,670,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. raised its holdings in shares of Cooper Companies by 480.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 937,806 shares of the medical device company’s stock valued at $81,870,000 after buying an additional 776,140 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Cooper Companies by 23.0% during the third quarter. Victory Capital Management Inc. now owns 3,950,119 shares of the medical device company’s stock worth $435,856,000 after acquiring an additional 737,726 shares in the last quarter. Magnetar Financial LLC bought a new stake in shares of Cooper Companies in the 2nd quarter worth approximately $63,822,000. TD Asset Management Inc purchased a new stake in shares of Cooper Companies in the 2nd quarter valued at $53,045,000. Finally, Impax Asset Management Group plc grew its holdings in shares of Cooper Companies by 31.0% during the 2nd quarter. Impax Asset Management Group plc now owns 2,359,798 shares of the medical device company’s stock valued at $205,511,000 after purchasing an additional 558,886 shares during the last quarter. Institutional investors own 24.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on COO. Piper Sandler increased their target price on Cooper Companies from $115.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Wells Fargo & Company raised their target price on shares of Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. StockNews.com raised shares of Cooper Companies from a “hold” rating to a “buy” rating in a research report on Tuesday. Robert W. Baird increased their target price on shares of Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $115.00 price target (up previously from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $117.00.

Cooper Companies Trading Up 0.3 %

NASDAQ COO opened at $103.29 on Wednesday. The stock’s 50 day moving average is $105.04 and its 200 day moving average is $98.66. The company has a quick ratio of 1.18, a current ratio of 1.99 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $20.57 billion, a PE ratio of 57.54, a P/E/G ratio of 2.23 and a beta of 0.97. The Cooper Companies, Inc. has a twelve month low of $82.55 and a twelve month high of $112.38.

Insider Activity

In other news, CEO Albert G. White III sold 114,992 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $18,267,624.69. This represents a 41.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian G. Andrews sold 24,788 shares of Cooper Companies stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $105.90, for a total value of $2,625,049.20. Following the completion of the transaction, the chief financial officer now directly owns 6,614 shares of the company’s stock, valued at approximately $700,422.60. This represents a 78.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,381 shares of company stock worth $15,508,071. Corporate insiders own 2.00% of the company’s stock.

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.