Investors Sell Shares of The Cooper Cos. (COO) on Strength (COO)
Traders sold shares of The Cooper Cos. (NYSE:COO) on strength during trading on Tuesday. $11.90 million flowed into the stock on the tick-up and $30.26 million flowed out of the stock on the tick-down, for a money net flow of $18.36 million out of the stock. Of all stocks tracked, The Cooper Cos. had the 0th highest net out-flow for the day. The Cooper Cos. traded up $1.60 for the day and closed at $185.79
A number of analysts have recently commented on the company. Jefferies Group upped their price objective on The Cooper Cos. to $210.00 in a report on Wednesday. Robert W. Baird upped their price target on shares of The Cooper Cos. from $185.00 to $196.00 and gave the stock an “outperform” rating in a research report on Thursday, August 18th. Zacks Investment Research cut shares of The Cooper Cos. from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $185.00 price target on shares of The Cooper Cos. in a research report on Tuesday, July 26th. Finally, JPMorgan Chase & Co. started coverage on shares of The Cooper Cos. in a research report on Wednesday, July 13th. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $170.10.
The company has a market cap of $9.00 billion and a price-to-earnings ratio of 43.95. The stock’s 50 day moving average price is $180.38 and its 200 day moving average price is $161.33.
The Cooper Cos. (NYSE:COO) last released its earnings results on Thursday, June 2nd. The medical device company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.14. During the same period last year, the firm posted $1.72 EPS. The company earned $484.80 million during the quarter. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. Equities research analysts forecast that The Cooper Cos. will post $8.42 earnings per share for the current year.
The business also recently announced a semiannual dividend, which was paid on Friday, August 5th. Shareholders of record on Friday, July 22nd were given a $0.03 dividend. The ex-dividend date was Wednesday, July 20th. This represents a yield of 0.03%.
In other news, Director Michael Kalkstein sold 1,000 shares of the firm’s stock in a transaction on Friday, July 8th. The shares were sold at an average price of $178.55, for a total transaction of $178,550.00. Following the transaction, the director now owns 14,215 shares in the company, valued at approximately $2,538,088.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stanley Md Zinberg sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 29th. The shares were sold at an average price of $170.00, for a total transaction of $1,700,000.00. Following the transaction, the director now owns 899 shares in the company, valued at approximately $152,830. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have added to or reduced their stakes in COO. Schroder Investment Management Group increased its position in The Cooper Cos. by 13.1% in the fourth quarter. Schroder Investment Management Group now owns 307,100 shares of the medical device company’s stock worth $41,213,000 after buying an additional 35,600 shares in the last quarter. I.G. Investment Management LTD. increased its position in The Cooper Cos. by 40.6% in the fourth quarter. I.G. Investment Management LTD. now owns 30,760 shares of the medical device company’s stock worth $4,128,000 after buying an additional 8,884 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in The Cooper Cos. by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 154,051 shares of the medical device company’s stock worth $20,674,000 after buying an additional 4,043 shares in the last quarter.
The Cooper Companies, Inc (Cooper) is a medical device company. The Company operates through two business units: CooperVision, Inc (CooperVision) and CooperSurgical, Inc (CooperSurgical). CooperVision develops, manufactures and markets a range of soft contact lenses for the vision correction market. CooperVision offers Biofinity monthly spherical, toric and multifocal lenses under the Avaira brand.
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