NewEdge Wealth LLC Sells 4,597 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

NewEdge Wealth LLC trimmed its position in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 6.9% during the 4th quarter, Holdings Channel reports. The firm owned 62,230 shares of the medical device company’s stock after selling 4,597 shares during the period. NewEdge Wealth LLC’s holdings in Cooper Companies were worth $5,721,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP increased its holdings in Cooper Companies by 45.8% in the 3rd quarter. Allworth Financial LP now owns 968 shares of the medical device company’s stock valued at $107,000 after acquiring an additional 304 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Cooper Companies by 25.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,833 shares of the medical device company’s stock valued at $1,958,000 after acquiring an additional 3,566 shares during the last quarter. Arkadios Wealth Advisors bought a new stake in Cooper Companies in the 3rd quarter valued at $277,000. Wealth Enhancement Advisory Services LLC increased its holdings in Cooper Companies by 33.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,061 shares of the medical device company’s stock valued at $1,000,000 after acquiring an additional 2,264 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in Cooper Companies by 1.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 24,142 shares of the medical device company’s stock valued at $2,663,000 after acquiring an additional 355 shares during the last quarter. 24.39% of the stock is currently owned by institutional investors.

Cooper Companies Price Performance

COO stock opened at $89.87 on Friday. The Cooper Companies, Inc. has a 12 month low of $84.76 and a 12 month high of $112.38. The company has a current ratio of 1.91, a quick ratio of 1.12 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $92.71 and a 200 day moving average price of $99.49. The stock has a market cap of $17.94 billion, a PE ratio of 46.09, a P/E/G ratio of 2.25 and a beta of 1.00.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings results on Thursday, December 5th. The medical device company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the company earned $0.87 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts anticipate that The Cooper Companies, Inc. will post 3.98 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Morgan Stanley reduced their price target on shares of Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Friday, December 6th. Needham & Company LLC restated a “hold” rating on shares of Cooper Companies in a report on Friday, December 6th. StockNews.com downgraded shares of Cooper Companies from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Wells Fargo & Company boosted their target price on shares of Cooper Companies from $115.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Citigroup reduced their target price on shares of Cooper Companies from $116.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, December 6th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cooper Companies currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.00.

About Cooper Companies

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.