Renaissance Technologies LLC grew its stake in Cooper Companies Inc (NYSE:COO) by 103.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 422,848 shares of the medical device company’s stock after purchasing an additional 215,448 shares during the quarter. Renaissance Technologies LLC’s holdings in Cooper Companies were worth $92,130,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Canada Pension Plan Investment Board bought a new position in shares of Cooper Companies in the third quarter valued at approximately $163,000. FNY Managed Accounts LLC bought a new position in shares of Cooper Companies in the fourth quarter valued at approximately $217,000. CAPROCK Group Inc. bought a new position in shares of Cooper Companies in the fourth quarter valued at approximately $222,000. Ballentine Partners LLC bought a new position in shares of Cooper Companies in the third quarter valued at approximately $223,000. Finally, Everence Capital Management Inc. bought a new position in shares of Cooper Companies in the fourth quarter valued at approximately $253,000. Institutional investors own 97.45% of the company’s stock.
In related news, Director Allan E. Rubenstein sold 6,450 shares of the business’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $228.79, for a total transaction of $1,475,695.50. Following the transaction, the director now owns 8,628 shares in the company, valued at approximately $1,974,000.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gary S. Petersmeyer sold 785 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $229.06, for a total value of $179,812.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,385 shares of company stock worth $12,289,463. 1.60% of the stock is owned by company insiders.
Cooper Companies (NYSE:COO) last announced its quarterly earnings results on Thursday, March 8th. The medical device company reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.28. Cooper Companies had a return on equity of 17.02% and a net margin of 7.83%. The company had revenue of $590.00 million for the quarter, compared to the consensus estimate of $583.07 million. During the same quarter in the previous year, the business earned $1.93 EPS. Cooper Companies’s revenue was up 18.2% compared to the same quarter last year. equities analysts forecast that Cooper Companies Inc will post 11.6 earnings per share for the current year.
The firm also recently declared a semiannual dividend, which was paid on Friday, February 9th. Investors of record on Tuesday, January 23rd were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, January 22nd. This represents a yield of 0.03%. Cooper Companies’s dividend payout ratio is presently 1.72%.
A number of equities research analysts have recently weighed in on COO shares. Stifel Nicolaus reissued a “buy” rating and issued a $265.00 target price (down previously from $275.00) on shares of Cooper Companies in a research note on Friday, December 8th. Raymond James Financial reissued a “buy” rating and issued a $265.00 target price on shares of Cooper Companies in a research note on Monday, December 4th. Zacks Investment Research raised Cooper Companies from a “hold” rating to a “buy” rating and set a $257.00 target price for the company in a research note on Tuesday, November 14th. Jefferies Group reissued a “buy” rating and issued a $285.00 target price on shares of Cooper Companies in a research note on Friday. Finally, TheStreet lowered Cooper Companies from a “b” rating to a “c” rating in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $267.50.
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Cooper Companies Profile
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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