Maria Rivas, a director at The Cooper Companies, Inc. (NASDAQ: COO), has acquired 1,000 shares of the company’s stock in a transaction dated December 18, 2023. The shares were purchased at an average price of $82.13 per share, amounting to a total investment of $82,130.00. Following this acquisition, Rivas now holds 11,141 shares of the company, valued at approximately $915,010.33, reflecting a 9.86% increase in her position.
This purchase was disclosed in a legal filing with the Securities and Exchange Commission. The news comes as Cooper Companies stocks opened at $82.75 on December 19, 2023, showing a modest increase of 0.4% from the previous trading day.
Company Performance and Financial Metrics
As of the latest trading session, Cooper Companies boasts a market capitalization of $16.22 billion. The company’s P/E ratio stands at 44.02, with a P/E/G ratio of 2.35 and a beta of 1.05. Over the past year, the company has seen a 52-week low of $61.78 and a 52-week high of $100.24. Financial metrics also reveal a debt-to-equity ratio of 0.30, alongside a quick ratio of 1.13 and a current ratio of 1.89. The stock’s 50-day simple moving average is $74.70, while the 200-day simple moving average is $71.99.
In terms of earnings, Cooper Companies reported results on December 4, 2023, showing earnings per share of $1.15 for the quarter, surpassing analysts’ expectations of $1.11 by $0.04. The company achieved revenue of $1.07 billion, slightly above the anticipated $1.06 billion. This performance reflects a year-over-year revenue increase of 4.6%, compared to $1.04 earnings per share during the same quarter last year.
Institutional Investments and Analyst Ratings
In recent months, several institutional investors have adjusted their stakes in Cooper Companies. For instance, Alecta Tjanstepension Omsesidigt increased its holdings by 15.8% in the third quarter, now owning 1,563,000 shares valued at $107,112,000. Similarly, Allworth Financial LP raised its position by 23.9%, acquiring additional shares worth $81,000.
Analysts are generally optimistic about the company’s outlook. Reports from Needham & Company LLC maintained a “buy” rating, adjusting the target price from $94.00 to $100.00. Other research firms, including Wells Fargo & Company and Morgan Stanley, have also increased their price targets to $82.00 and $83.00, respectively. Currently, the stock has an average rating of “Moderate Buy” with a consensus target price of $90.15.
The Cooper Companies, Inc., headquartered in San Ramon, California, has established itself as a significant player in the medical device industry since its founding in 1958. The company operates through two main segments: CooperVision and CooperSurgical, focusing on vision care and women’s health products.
This recent share purchase by Maria Rivas highlights the ongoing confidence of company leadership in the firm’s future prospects, as it navigates a competitive landscape in the healthcare sector.
