Northern Trust Corp Buys 14,293 Shares of Cooper Companies Inc (NYSE:COO)

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Northern Trust Corp grew its stake in Cooper Companies Inc (NYSE:COO) by 2.4% during the first quarter, HoldingsChannel reports. The firm owned 602,699 shares of the medical device company’s stock after purchasing an additional 14,293 shares during the period. Northern Trust Corp’s holdings in Cooper Companies were worth $178,501,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc increased its stake in shares of Cooper Companies by 0.6% in the third quarter. Vanguard Group Inc now owns 5,041,468 shares of the medical device company’s stock valued at $1,397,243,000 after buying an additional 31,280 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Cooper Companies by 2.5% in the fourth quarter. Advisors Asset Management Inc. now owns 11,843 shares of the medical device company’s stock valued at $3,014,000 after buying an additional 289 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Cooper Companies by 10.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 1,254 shares of the medical device company’s stock valued at $319,000 after buying an additional 118 shares in the last quarter. Dupont Capital Management Corp increased its stake in shares of Cooper Companies by 4.4% in the fourth quarter. Dupont Capital Management Corp now owns 881 shares of the medical device company’s stock valued at $224,000 after buying an additional 37 shares in the last quarter. Finally, M&T Bank Corp increased its stake in shares of Cooper Companies by 13.4% in the fourth quarter. M&T Bank Corp now owns 3,338 shares of the medical device company’s stock valued at $850,000 after buying an additional 395 shares in the last quarter. 95.98% of the stock is owned by institutional investors.

A number of analysts have recently weighed in on COO shares. Jefferies Financial Group raised their target price on Cooper Companies to $330.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Zacks Investment Research upgraded Cooper Companies from a “hold” rating to a “buy” rating and set a $317.00 target price for the company in a research note on Friday, March 8th. Northcoast Research restated a “buy” rating and issued a $340.00 target price (up from $331.00) on shares of Cooper Companies in a research note on Monday, June 3rd. Wells Fargo & Co raised their target price on Cooper Companies from $325.00 to $356.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Raymond James raised their target price on Cooper Companies from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company’s stock. Cooper Companies has a consensus rating of “Buy” and an average price target of $315.36.

COO stock traded up $2.19 during mid-day trading on Wednesday, hitting $326.28. 6,821 shares of the stock were exchanged, compared to its average volume of 348,563. The company has a quick ratio of 0.68, a current ratio of 1.21 and a debt-to-equity ratio of 0.42. Cooper Companies Inc has a 12 month low of $221.65 and a 12 month high of $325.88. The firm has a market cap of $15.93 billion, a P/E ratio of 28.35, a price-to-earnings-growth ratio of 2.45 and a beta of 0.78.

Cooper Companies (NYSE:COO) last released its quarterly earnings data on Thursday, May 30th. The medical device company reported $2.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.76 by $0.18. The firm had revenue of $654.30 million for the quarter, compared to the consensus estimate of $655.00 million. Cooper Companies had a return on equity of 17.25% and a net margin of 16.46%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.86 earnings per share. As a group, research analysts expect that Cooper Companies Inc will post 12.24 EPS for the current fiscal year.

In related news, Director Robert S. Weiss sold 70,902 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $291.81, for a total value of $20,689,912.62. Following the transaction, the director now directly owns 117,185 shares of the company’s stock, valued at approximately $34,195,754.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Kalkstein sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $316.28, for a total value of $1,106,980.00. The disclosure for this sale can be found here. Insiders have sold a total of 98,700 shares of company stock worth $29,246,558 in the last quarter. Company insiders own 1.70% of the company’s stock.

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Cooper Companies Company Profile

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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