The Cooper Companies, Inc. (NASDAQ:COO) Stake Lessened by Simplify Asset Management Inc.

Simplify Asset Management Inc. lowered its position in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 56.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,868 shares of the medical device company’s stock after selling 11,470 shares during the quarter. Simplify Asset Management Inc.’s holdings in Cooper Companies were worth $978,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in Cooper Companies during the third quarter worth approximately $25,000. Covestor Ltd increased its position in Cooper Companies by 305.9% in the 1st quarter. Covestor Ltd now owns 276 shares of the medical device company’s stock worth $28,000 after purchasing an additional 208 shares during the last quarter. Innealta Capital LLC bought a new stake in Cooper Companies in the second quarter worth approximately $25,000. Crewe Advisors LLC increased its holdings in shares of Cooper Companies by 286.4% during the 2nd quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock valued at $30,000 after acquiring an additional 252 shares during the last quarter. Finally, Clearstead Trust LLC bought a new position in shares of Cooper Companies in the first quarter valued at approximately $36,000. 24.39% of the stock is currently owned by institutional investors.

Cooper Companies Stock Performance

Shares of NASDAQ:COO traded down $0.64 on Friday, hitting $99.22. The company had a trading volume of 312,549 shares, compared to its average volume of 1,121,574. The Cooper Companies, Inc. has a 1-year low of $82.21 and a 1-year high of $112.38. The stock has a 50 day moving average price of $106.97 and a 200 day moving average price of $97.87. The company has a current ratio of 1.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The stock has a market cap of $19.76 billion, a price-to-earnings ratio of 55.63, a P/E/G ratio of 2.20 and a beta of 0.99.

Cooper Companies (NASDAQ:COO) last announced its quarterly earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.05. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $997.30 million. During the same period in the previous year, the firm posted $0.84 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. Analysts expect that The Cooper Companies, Inc. will post 3.65 EPS for the current year.

Insider Buying and Selling

In other Cooper Companies news, COO Daniel G. Mcbride sold 114,992 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $105.48, for a total value of $12,129,356.16. Following the transaction, the chief operating officer now owns 44,696 shares in the company, valued at approximately $4,714,534.08. This represents a 72.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Agostino Ricupati sold 1,601 shares of Cooper Companies stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $108.03, for a total transaction of $172,956.03. Following the transaction, the chief accounting officer now owns 4,818 shares of the company’s stock, valued at $520,488.54. This represents a 24.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 256,373 shares of company stock valued at $27,637,427 over the last ninety days. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a report on Thursday, August 29th. Piper Sandler increased their price target on shares of Cooper Companies from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Morgan Stanley raised their target price on shares of Cooper Companies from $95.00 to $104.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 10th. Wells Fargo & Company boosted their price objective on Cooper Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $115.00 price target (up previously from $110.00) on shares of Cooper Companies in a research note on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.00.

Cooper Companies 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.