Jennison Associates LLC Decreases Holdings in The Cooper Companies, Inc. (NASDAQ:COO)

Jennison Associates LLC lowered its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 23.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 810,583 shares of the medical device company’s stock after selling 252,359 shares during the period. Jennison Associates LLC’s holdings in Cooper Companies were worth $89,440,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. LRI Investments LLC boosted its holdings in shares of Cooper Companies by 4.5% in the 2nd quarter. LRI Investments LLC now owns 2,595 shares of the medical device company’s stock worth $227,000 after purchasing an additional 112 shares during the period. Mitchell & Pahl Private Wealth LLC boosted its stake in Cooper Companies by 1.5% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 7,986 shares of the medical device company’s stock worth $881,000 after buying an additional 117 shares during the period. Commonwealth Equity Services LLC increased its position in Cooper Companies by 0.8% during the second quarter. Commonwealth Equity Services LLC now owns 15,600 shares of the medical device company’s stock valued at $1,362,000 after acquiring an additional 118 shares during the last quarter. Bleakley Financial Group LLC raised its stake in shares of Cooper Companies by 2.1% in the third quarter. Bleakley Financial Group LLC now owns 5,767 shares of the medical device company’s stock valued at $636,000 after acquiring an additional 119 shares during the period. Finally, First Horizon Advisors Inc. raised its stake in shares of Cooper Companies by 4.8% in the second quarter. First Horizon Advisors Inc. now owns 2,709 shares of the medical device company’s stock valued at $236,000 after acquiring an additional 125 shares during the period. 24.39% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Cooper Companies Trading Up 0.0 %

NASDAQ:COO opened at $99.08 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.99. The firm has a 50-day simple moving average of $106.29 and a 200-day simple moving average of $98.19. The Cooper Companies, Inc. has a one year low of $82.21 and a one year high of $112.38. The firm has a market cap of $19.73 billion, a P/E ratio of 55.04, a P/E/G ratio of 2.15 and a beta of 0.99.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on COO. Stifel Nicolaus reiterated a “buy” rating and set a $115.00 price target (up from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a research note on Thursday, August 29th. Robert W. Baird raised their price target on Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Wells Fargo & Company upped 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, StockNews.com downgraded Cooper Companies from a “buy” rating to a “hold” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Cooper Companies currently has an average rating of “Moderate Buy” and a consensus price target of $117.00.

Cooper Companies Company 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.