Mufg Securities Americas Inc. Acquires 899 Shares of The Cooper Companies, Inc. $COO

Mufg Securities Americas Inc. lifted its holdings in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 25.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 4,432 shares of the medical device company’s stock after acquiring an additional 899 shares during the period. Mufg Securities Americas Inc.’s holdings in Cooper Companies were worth $315,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Zions Bancorporation National Association UT bought a new stake in Cooper Companies in the first quarter valued at about $33,000. J.Safra Asset Management Corp grew its stake in shares of Cooper Companies by 204.8% in the 2nd quarter. J.Safra Asset Management Corp now owns 506 shares of the medical device company’s stock valued at $36,000 after purchasing an additional 340 shares during the period. GKV Capital Management Co. Inc. bought a new stake in shares of Cooper Companies in the 1st quarter valued at approximately $40,000. Assetmark Inc. raised its holdings in shares of Cooper Companies by 357.8% in the 2nd quarter. Assetmark Inc. now owns 618 shares of the medical device company’s stock worth $44,000 after buying an additional 483 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of Cooper Companies by 36.6% during the 2nd quarter. Allworth Financial LP now owns 959 shares of the medical device company’s stock worth $68,000 after buying an additional 257 shares during the period. 24.39% of the stock is currently owned by institutional investors and hedge funds.

Cooper Companies Stock Up 2.9%

Shares of NASDAQ COO opened at $78.21 on Wednesday. The Cooper Companies, Inc. has a 12-month low of $61.78 and a 12-month high of $106.63. The firm’s 50-day simple moving average is $70.62 and its 200 day simple moving average is $71.84. The company has a quick ratio of 1.24, a current ratio of 2.12 and a debt-to-equity ratio of 0.29. The company has a market cap of $15.55 billion, a price-to-earnings ratio of 38.53, a price-to-earnings-growth ratio of 1.83 and a beta of 1.02.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings data on Wednesday, August 27th. The medical device company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.03. Cooper Companies had a net margin of 10.08% and a return on equity of 9.82%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the company posted $0.96 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, research analysts expect that The Cooper Companies, Inc. will post 3.98 earnings per share for the current fiscal year.

Cooper Companies declared that its board has initiated a stock repurchase plan on Wednesday, September 17th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the medical device company to reacquire up to 15.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Stifel Nicolaus lowered their price target on Cooper Companies from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, August 28th. Barclays started coverage on shares of Cooper Companies in a report on Monday, October 13th. They issued an “overweight” rating and a $85.00 target price on the stock. The Goldman Sachs Group set a $64.00 target price on shares of Cooper Companies and gave the stock a “sell” rating in a research report on Wednesday, October 1st. Robert W. Baird reduced their price target on shares of Cooper Companies from $97.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, August 28th. Finally, Morgan Stanley set a $76.00 price objective on shares of Cooper Companies and gave the stock an “equal weight” rating in a report on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Cooper Companies currently has a consensus rating of “Moderate Buy” and an average target price of $84.77.

Insiders Place Their Bets

In related news, CEO Albert G. White III purchased 10,000 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was acquired at an average price of $68.39 per share, with a total value of $683,900.00. Following the completion of the acquisition, the chief executive officer directly owned 226,151 shares in the company, valued at approximately $15,466,466.89. This trade represents a 4.63% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Daniel G. Mcbride acquired 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was bought at an average price of $65.04 per share, with a total value of $195,120.00. Following the transaction, the chief operating officer directly owned 63,120 shares in the company, valued at $4,105,324.80. The trade was a 4.99% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 17,975 shares of company stock valued at $1,216,346 over the last quarter. Company insiders own 1.98% of the company’s stock.

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.