The Cooper Companies, Inc. (NASDAQ:COO) Holdings Cut by Prudential PLC

Prudential PLC reduced its stake in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 34.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,341 shares of the medical device company’s stock after selling 22,063 shares during the period. Prudential PLC’s holdings in Cooper Companies were worth $3,892,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Cooper Companies during the fourth quarter valued at approximately $691,000. Highland Capital Management LLC acquired a new position in shares of Cooper Companies during the 4th quarter worth $4,004,000. Caprock Group LLC bought a new position in shares of Cooper Companies during the 4th quarter valued at $282,000. Franklin Resources Inc. lifted its stake in shares of Cooper Companies by 194.0% in the 3rd quarter. Franklin Resources Inc. now owns 48,892 shares of the medical device company’s stock valued at $5,265,000 after purchasing an additional 32,260 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Cooper Companies by 6.6% in the third quarter. Principal Financial Group Inc. now owns 238,305 shares of the medical device company’s stock worth $26,295,000 after purchasing an additional 14,687 shares in the last quarter. 24.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on COO. Stifel Nicolaus reduced their price target on Cooper Companies from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, March 7th. JPMorgan Chase & Co. reduced their target price on Cooper Companies from $120.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, March 7th. BNP Paribas upgraded Cooper Companies to a “hold” rating in a report on Thursday, March 13th. Piper Sandler reissued an “overweight” rating and issued a $115.00 price target (down previously from $120.00) on shares of Cooper Companies in a research report on Friday, March 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a report on Friday, March 7th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $110.25.

Cooper Companies Trading Down 5.6 %

Shares of COO stock opened at $73.77 on Friday. The firm has a market capitalization of $14.75 billion, a P/E ratio of 37.83, a price-to-earnings-growth ratio of 2.25 and a beta of 1.01. The Cooper Companies, Inc. has a 1 year low of $73.34 and a 1 year high of $112.38. The firm’s fifty day simple moving average is $87.76 and its 200 day simple moving average is $96.24. 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 posted its quarterly earnings data on Thursday, March 6th. The medical device company reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. The company had revenue of $964.70 million for the quarter, compared to the consensus estimate of $981.25 million. As a group, sell-side analysts predict that The Cooper Companies, Inc. will post 3.98 EPS 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.