WCM Investment Management LLC Has $118.40 Million Stock Holdings in Cooper Companies Inc (NYSE:COO)

WCM Investment Management LLC cut its holdings in shares of Cooper Companies Inc (NYSE:COO) by 34.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 351,437 shares of the medical device company’s stock after selling 183,768 shares during the period. Cooper Companies comprises approximately 0.7% of WCM Investment Management LLC’s portfolio, making the stock its 27th largest position. WCM Investment Management LLC’s holdings in Cooper Companies were worth $118,396,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Achmea Investment Management B.V. acquired a new position in shares of Cooper Companies in the 2nd quarter worth approximately $488,000. Teacher Retirement System of Texas bought a new stake in shares of Cooper Companies in the 2nd quarter valued at $1,301,000. National Asset Management Inc. increased its stake in shares of Cooper Companies by 47.1% in the 2nd quarter. National Asset Management Inc. now owns 1,690 shares of the medical device company’s stock valued at $570,000 after acquiring an additional 541 shares in the last quarter. FTB Advisors Inc. bought a new stake in shares of Cooper Companies in the 2nd quarter valued at $67,000. Finally, Securian Asset Management Inc increased its stake in shares of Cooper Companies by 1.9% in the 2nd quarter. Securian Asset Management Inc now owns 5,269 shares of the medical device company’s stock valued at $1,775,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 96.59% of the company’s stock.

In other news, SVP Agostino Ricupati sold 5,532 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $326.67, for a total value of $1,807,138.44. Following the completion of the sale, the senior vice president now owns 742 shares in the company, valued at approximately $242,389.14. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jody S. Lindell sold 3,000 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $328.29, for a total transaction of $984,870.00. The disclosure for this sale can be found here. Insiders have sold a total of 77,678 shares of company stock valued at $25,063,536 in the last 90 days. 1.70% of the stock is currently owned by company insiders.

COO stock traded down $2.05 during midday trading on Thursday, reaching $330.56. 6,382 shares of the company’s stock traded hands, compared to its average volume of 230,785. The company has a market cap of $16.60 billion, a price-to-earnings ratio of 28.73, a P/E/G ratio of 2.54 and a beta of 0.90. The firm’s fifty day moving average price is $334.05 and its 200-day moving average price is $305.56. 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 52 week low of $228.65 and a 52 week high of $344.32.

Cooper Companies (NYSE:COO) last announced its quarterly earnings results on Thursday, May 30th. The medical device company reported $2.94 EPS for the quarter, beating the Zacks’ consensus estimate of $2.76 by $0.18. The business had revenue of $654.30 million during the quarter, compared to analyst estimates of $655.00 million. Cooper Companies had a net margin of 16.46% and a return on equity of 17.25%. Cooper Companies’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.86 EPS. Analysts forecast that Cooper Companies Inc will post 12.28 earnings per share for the current year.

The firm also recently declared a Semi-Annual dividend, which was paid on Wednesday, August 7th. Shareholders of record on Tuesday, July 23rd were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, July 22nd. Cooper Companies’s dividend payout ratio (DPR) is presently 0.52%.

COO has been the subject of several research analyst reports. Northcoast Research reiterated a “buy” rating and issued a $340.00 price objective (up previously from $331.00) on shares of Cooper Companies in a research note on Monday, June 3rd. Raymond James lifted their price objective on shares of Cooper Companies from $325.00 to $364.00 and gave the company an “outperform” rating in a research note on Tuesday, July 2nd. Zacks Investment Research upgraded shares of Cooper Companies from a “hold” rating to a “buy” rating and set a $336.00 price objective for the company in a research note on Friday, June 7th. Wells Fargo & Co lifted their price objective on shares of Cooper Companies from $356.00 to $365.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Piper Jaffray Companies lifted their price objective on shares of Cooper Companies from $330.00 to $360.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $326.27.

Cooper Companies 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.

Further Reading: Outstanding Shares

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

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