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

abrdn plc lessened its stake in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 7.6% during the 4th quarter, according to 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 0.15% of Cooper Companies worth $28,325,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of COO. Victory Capital Management Inc. raised its holdings in Cooper Companies by 23.0% in the third quarter. Victory Capital Management Inc. now owns 3,950,119 shares of the medical device company's stock worth $435,856,000 after purchasing an additional 737,726 shares in the last quarter. Highland Capital Management LLC purchased a new stake in Cooper Companies during the fourth quarter valued at approximately $4,004,000. Franklin Resources Inc. lifted its position in Cooper Companies by 194.0% during the third quarter. Franklin Resources Inc. now owns 48,892 shares of the medical device company's stock valued at $5,265,000 after acquiring an additional 32,260 shares during the last quarter. Principal Financial Group Inc. boosted its stake 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 valued at $26,295,000 after acquiring an additional 14,687 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Cooper Companies by 13.2% in the third quarter. JPMorgan Chase & Co. now owns 4,930,022 shares of the medical device company's stock worth $543,979,000 after purchasing an additional 573,908 shares during the last quarter. Institutional investors own 24.39% of the company's stock.

Cooper Companies Price Performance

COO stock traded down $1.72 during mid-day trading on Friday, reaching $93.57. The company's stock had a trading volume of 986,790 shares, compared to its average volume of 1,320,943. The stock has a market cap of $18.67 billion, a PE ratio of 47.98, a P/E/G ratio of 2.41 and a beta of 1.00. The company's 50 day moving average is $94.99 and its two-hundred day moving average is $99.80. The Cooper Companies, Inc. has a fifty-two week low of $84.76 and a fifty-two week high of $112.38. 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 - Get Free Report) last announced its quarterly earnings data on Thursday, December 5th. The medical device company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. The firm's revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.87 earnings per share. Equities research analysts expect that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on COO. StockNews.com cut Cooper Companies from a "buy" rating to a "hold" rating in a research report on Wednesday, December 11th. Wells Fargo & Company lifted their price objective on Cooper Companies from $115.00 to $118.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Citigroup dropped their price target on shares of Cooper Companies from $116.00 to $115.00 and set a "buy" rating on the stock in a research report on Friday, December 6th. Morgan Stanley reduced their target price on Cooper Companies from $104.00 to $102.00 and set an "equal weight" rating for the company in a research note on Friday, December 6th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Cooper Companies in a research note on Friday, December 6th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Cooper Companies presently has an average rating of "Moderate Buy" and a consensus target price of $117.00.

Cooper Companies 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.