Exxonmobil Investment Management Inc. TX reduced its stake in shares of Cooper Companies, Inc. (The) (NYSE:COO) by 13.7% during the second quarter, Holdings Channel reports. The fund owned 9,380 shares of the medical device company’s stock after selling 1,487 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Cooper Companies, Inc. (The) were worth $2,246,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. increased its stake in Cooper Companies, Inc. (The) by 2,849.1% in the first quarter. BlackRock Inc. now owns 3,071,637 shares of the medical device company’s stock valued at $613,991,000 after buying an additional 2,967,481 shares during the last quarter. Janus Capital Management LLC increased its stake in Cooper Companies, Inc. (The) by 35.7% in the first quarter. Janus Capital Management LLC now owns 1,743,182 shares of the medical device company’s stock valued at $348,441,000 after buying an additional 458,173 shares during the last quarter. Findlay Park Partners LLP acquired a new stake in Cooper Companies, Inc. (The) during the first quarter valued at about $55,664,000. Vanguard Group Inc. increased its stake in Cooper Companies, Inc. (The) by 5.4% in the first quarter. Vanguard Group Inc. now owns 4,781,732 shares of the medical device company’s stock valued at $955,821,000 after buying an additional 244,531 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in Cooper Companies, Inc. (The) during the first quarter valued at about $46,885,000. 98.09% of the stock is owned by institutional investors and hedge funds.

Cooper Companies, Inc. (COO) opened at 251.98 on Tuesday. The firm’s 50-day moving average is $229.73 and its 200-day moving average is $200.61. Cooper Companies, Inc. has a 12-month low of $158.73 and a 12-month high of $252.85. The stock has a market capitalization of $12.31 billion, a P/E ratio of 37.78 and a beta of 0.61.

Cooper Companies, Inc. (The) (NYSE:COO) last released its earnings results on Thursday, June 1st. The medical device company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.25. Cooper Companies, Inc. (The) had a return on equity of 15.88% and a net margin of 16.02%. The firm had revenue of $522.40 million for the quarter, compared to analysts’ expectations of $520.71 million. During the same period in the prior year, the firm posted $2.05 earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Analysts predict that Cooper Companies, Inc. will post $9.62 EPS for the current fiscal year.

Cooper Companies, Inc. (The) announced that its board has approved a stock repurchase plan on Tuesday, March 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the medical device company to purchase up to 5.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

The business also recently announced a semiannual dividend, which will be paid on Monday, August 7th. Stockholders of record on Friday, July 21st will be paid a $0.03 dividend. The ex-dividend date is Wednesday, July 19th. This represents a dividend yield of 0.02%. Cooper Companies, Inc. (The)’s dividend payout ratio is currently 0.90%.

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Several analysts recently issued reports on COO shares. BMO Capital Markets reissued an “outperform” rating and issued a $255.00 price target (up previously from $220.00) on shares of Cooper Companies, Inc. (The) in a research report on Monday, June 5th. Zacks Investment Research raised shares of Cooper Companies, Inc. (The) from a “hold” rating to a “buy” rating and set a $226.00 price target for the company in a research report on Wednesday, May 3rd. Jefferies Group LLC reissued a “buy” rating and issued a $250.00 price target (up previously from $220.00) on shares of Cooper Companies, Inc. (The) in a research report on Saturday, June 3rd. Piper Jaffray Companies reissued an “overweight” rating and issued a $220.00 price target on shares of Cooper Companies, Inc. (The) in a research report on Thursday, April 6th. Finally, Stifel Nicolaus lifted their price target on shares of Cooper Companies, Inc. (The) from $220.00 to $231.00 and gave the company a “buy” rating in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $237.00.

In other news, CEO Paul L. Remmell sold 9,294 shares of the stock in a transaction on Friday, July 14th. The stock was sold at an average price of $248.46, for a total value of $2,309,187.24. Following the sale, the chief executive officer now directly owns 6,186 shares of the company’s stock, valued at $1,536,973.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Randal Golden sold 1,621 shares of the stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $243.65, for a total value of $394,956.65. Following the completion of the sale, the vice president now directly owns 1,731 shares in the company, valued at $421,758.15. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,331 shares of company stock worth $16,400,454. Insiders own 1.60% of the company’s stock.

About Cooper Companies, Inc. (The)

The Cooper Companies, Inc is a global medical device company. The Company operates through two business units: CooperVision, Inc and CooperSurgical, Inc CooperVision offers soft contact lenses for the vision correction market. CooperVision develops, manufactures and markets a range of single-use, two-week and monthly contact lenses.

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Institutional Ownership by Quarter for Cooper Companies, Inc. (The) (NYSE:COO)

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