Cramer Rosenthal Mcglynn LLC Reduces Position in Cooper Companies Inc (NYSE:COO)

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Cramer Rosenthal Mcglynn LLC cut its holdings in shares of Cooper Companies Inc (NYSE:COO) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,519 shares of the medical device company’s stock after selling 2,585 shares during the period. Cramer Rosenthal Mcglynn LLC owned approximately 0.18% of Cooper Companies worth $29,821,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. HighTower Advisors LLC boosted its position in Cooper Companies by 29.8% in the second quarter. HighTower Advisors LLC now owns 4,509 shares of the medical device company’s stock worth $1,512,000 after purchasing an additional 1,035 shares during the last quarter. AXA lifted its position in shares of Cooper Companies by 9.4% during the second quarter. AXA now owns 79,367 shares of the medical device company’s stock worth $26,739,000 after purchasing an additional 6,803 shares during the last quarter. Pinebridge Investments L.P. lifted its position in shares of Cooper Companies by 221.7% during the second quarter. Pinebridge Investments L.P. now owns 36,287 shares of the medical device company’s stock worth $12,225,000 after purchasing an additional 25,007 shares during the last quarter. United Capital Financial Advisers LLC lifted its position in shares of Cooper Companies by 2.8% during the second quarter. United Capital Financial Advisers LLC now owns 1,435 shares of the medical device company’s stock worth $483,000 after purchasing an additional 39 shares during the last quarter. Finally, Scotia Capital Inc. bought a new position in shares of Cooper Companies during the second quarter worth about $216,000. 96.00% of the stock is currently owned by institutional investors.

Several equities analysts have recently commented on the stock. Wells Fargo & Co increased their price target on shares of Cooper Companies from $356.00 to $365.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. KeyCorp set a $351.00 target price on shares of Cooper Companies and gave the stock a “buy” rating in a report on Friday, August 30th. Raymond James restated a “buy” rating on shares of Cooper Companies in a research note on Monday, August 26th. Northcoast Research restated a “buy” rating and issued a $340.00 price target (up previously from $331.00) on shares of Cooper Companies in a research note on Monday, June 3rd. Finally, Piper Jaffray Companies set a $360.00 price target on shares of Cooper Companies and gave the company a “buy” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $326.27.

In related news, VP Randal Golden sold 1,154 shares of the firm’s stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $328.16, for a total transaction of $378,696.64. Following the completion of the sale, the vice president now directly owns 1,148 shares in the company, valued at $376,727.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Agostino Ricupati sold 5,532 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $326.67, for a total transaction of $1,807,138.44. Following the sale, the senior vice president now owns 742 shares of the company’s stock, valued at $242,389.14. The disclosure for this sale can be found here. Insiders have sold 10,041 shares of company stock valued at $3,285,697 over the last 90 days. 1.70% of the stock is currently owned by insiders.

Shares of NYSE:COO traded down $0.05 during trading hours on Friday, hitting $304.95. The stock had a trading volume of 1,949 shares, compared to its average volume of 322,884. The stock’s fifty day simple moving average is $325.48 and its 200 day simple moving average is $308.99. Cooper Companies Inc has a 1-year low of $228.65 and a 1-year high of $344.32. The firm has a market capitalization of $14.72 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 2.24 and a beta of 0.93. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.73 and a current ratio of 1.29.

Cooper Companies (NYSE:COO) last posted its quarterly earnings data on Thursday, August 29th. The medical device company reported $3.23 EPS for the quarter, beating the Zacks’ consensus estimate of $3.16 by $0.07. Cooper Companies had a net margin of 17.08% and a return on equity of 17.15%. The business had revenue of $679.40 million for the quarter, compared to analyst estimates of $687.60 million. During the same quarter last year, the business earned $3.00 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, research analysts anticipate that Cooper Companies Inc will post 12.32 EPS for the current year.

About Cooper Companies

The Cooper Companies, Inc operates as a medical device company worldwide. It operates through CooperVision and CooperSurgical business units. The company develops, manufactures, and markets a range of contact lenses, including spherical lenses, and toric and multifocal lenses that correct near- and farsightedness, as well as addresses various complex visual defects, such as astigmatism and presbyopia.

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Institutional Ownership by Quarter for Cooper Companies (NYSE:COO)

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