The Cooper Companies, Inc. (NASDAQ:COO) Shares Sold by abrdn plc

abrdn plc lessened its position in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 7.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 308,352 shares of the medical device company’s stock after selling 25,381 shares during the period. abrdn plc’s holdings in Cooper Companies were worth $28,325,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COO. Ashton Thomas Securities LLC acquired a new stake in Cooper Companies during the third quarter valued at $25,000. Covestor Ltd grew its position in Cooper Companies by 144.9% during the third quarter. Covestor Ltd now owns 338 shares of the medical device company’s stock valued at $37,000 after buying an additional 200 shares during the period. Brown Brothers Harriman & Co. grew its position in Cooper Companies by 191.0% during the third quarter. Brown Brothers Harriman & Co. now owns 419 shares of the medical device company’s stock valued at $46,000 after buying an additional 275 shares during the period. West Financial Advisors LLC acquired a new stake in Cooper Companies during the fourth quarter valued at $49,000. Finally, Friedenthal Financial acquired a new stake in Cooper Companies during the third quarter valued at $50,000. Institutional investors and hedge funds own 24.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on COO. Morgan Stanley decreased their price objective on shares of Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Friday, December 6th. Wells Fargo & Company increased their price objective on shares of Cooper Companies from $115.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, December 6th. StockNews.com downgraded shares of Cooper Companies from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Citigroup decreased their price objective on shares of Cooper Companies from $116.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, December 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $117.00.

Cooper Companies Price Performance

Cooper Companies stock opened at $96.67 on Thursday. The Cooper Companies, Inc. has a 12-month low of $84.76 and a 12-month high of $112.38. The stock has a market cap of $19.29 billion, a P/E ratio of 49.57, a PEG ratio of 2.45 and a beta of 1.00. The company has a 50-day moving average price of $95.37 and a 200 day moving average price of $99.75. The company has a current ratio of 1.91, a quick ratio of 1.12 and a debt-to-equity ratio of 0.32.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings data on Thursday, December 5th. The medical device company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the business earned $0.87 earnings per share. Cooper Companies’s revenue was up 9.8% compared to the same quarter last year. Sell-side analysts anticipate that The Cooper Companies, Inc. will post 3.98 earnings per share for the current year.

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.