abrdn plc Lowers Stock Holdings in The Cooper Companies, Inc. (NASDAQ:COO)

abrdn plc trimmed its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 7.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 308,352 shares of the medical device company’s stock after selling 25,381 shares during the period. abrdn plc owned about 0.15% of Cooper Companies worth $28,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in COO. Victory Capital Management Inc. boosted its position in Cooper Companies by 23.0% in the 3rd quarter. Victory Capital Management Inc. now owns 3,950,119 shares of the medical device company’s stock valued at $435,856,000 after buying an additional 737,726 shares during the period. JPMorgan Chase & Co. boosted its position in Cooper Companies by 13.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,930,022 shares of the medical device company’s stock valued at $543,979,000 after buying an additional 573,908 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Cooper Companies in the 3rd quarter worth approximately $46,727,000. Swedbank AB lifted its position in shares of Cooper Companies by 14.0% in the 4th quarter. Swedbank AB now owns 1,629,602 shares of the medical device company’s stock worth $149,809,000 after purchasing an additional 200,000 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Cooper Companies by 11.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,818,610 shares of the medical device company’s stock worth $200,665,000 after purchasing an additional 194,118 shares during the period. 24.39% of the stock is owned by hedge funds and other institutional investors.

Cooper Companies Trading Up 1.4 %

Shares of Cooper Companies stock opened at $96.67 on Thursday. The company has a current ratio of 1.91, a quick ratio of 1.12 and a debt-to-equity ratio of 0.32. The Cooper Companies, Inc. has a 12-month low of $84.76 and a 12-month high of $112.38. The firm has a market capitalization of $19.29 billion, a price-to-earnings ratio of 49.57, a PEG ratio of 2.45 and a beta of 1.00. The firm’s 50 day simple moving average is $95.37 and its two-hundred day simple moving average is $99.75.

Cooper Companies (NASDAQ:COO) last issued its quarterly earnings results on Thursday, December 5th. The medical device company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the business posted $0.87 EPS. Cooper Companies’s revenue for the quarter was up 9.8% compared to the same quarter last year. Analysts predict that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on COO shares. Wells Fargo & Company upped their price target on shares of Cooper Companies from $115.00 to $118.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. StockNews.com cut shares of Cooper Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a research report on Friday, December 6th. Citigroup lowered their price target on shares of Cooper Companies from $116.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, December 6th. Finally, Morgan Stanley lowered their price target on shares of Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Friday, December 6th. 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, Cooper Companies presently has an average rating of “Moderate Buy” and an average price target of $117.00.

About Cooper Companies

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.