Capital World Investors Sells 232,236 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

Capital World Investors decreased its stake in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 5.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,188,577 shares of the medical device company's stock after selling 232,236 shares during the quarter. Capital World Investors owned about 2.10% of Cooper Companies worth $385,056,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in COO. Barclays PLC grew its holdings in Cooper Companies by 0.7% during the third quarter. Barclays PLC now owns 462,947 shares of the medical device company's stock worth $51,082,000 after purchasing an additional 3,070 shares during the period. Anchor Investment Management LLC boosted its stake in shares of Cooper Companies by 1,029.2% during the 3rd quarter. Anchor Investment Management LLC now owns 1,084 shares of the medical device company's stock worth $120,000 after acquiring an additional 988 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Cooper Companies during the 3rd quarter worth approximately $1,150,000. Tidal Investments LLC raised its stake in Cooper Companies by 7.8% in the 3rd quarter. Tidal Investments LLC now owns 14,369 shares of the medical device company's stock valued at $1,585,000 after acquiring an additional 1,043 shares during the period. Finally, Synovus Financial Corp lifted its holdings in Cooper Companies by 18.8% during the 3rd quarter. Synovus Financial Corp now owns 31,568 shares of the medical device company's stock valued at $3,483,000 after purchasing an additional 4,987 shares during the last quarter. Institutional investors own 24.39% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on COO shares. Piper Sandler reiterated an "overweight" rating and issued a $115.00 price objective (down from $120.00) on shares of Cooper Companies in a report on Friday, March 7th. Robert W. Baird lowered their price target on shares of Cooper Companies from $117.00 to $107.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. JPMorgan Chase & Co. reduced their price objective on Cooper Companies from $120.00 to $110.00 and set an "overweight" rating for the company in a report on Friday, March 7th. Stifel Nicolaus lowered their target price on Cooper Companies from $115.00 to $105.00 and set a "buy" rating on the stock in a research note on Friday, March 7th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Cooper Companies in a research report on Friday, March 7th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Cooper Companies presently has a consensus rating of "Moderate Buy" and a consensus target price of $110.25.

Cooper Companies Price Performance

COO traded down $1.40 on Friday, hitting $81.18. 408,214 shares of the stock were exchanged, compared to its average volume of 1,418,411. The firm has a market capitalization of $16.23 billion, a price-to-earnings ratio of 41.70, a PEG ratio of 2.25 and a beta of 1.01. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.12. The Cooper Companies, Inc. has a 12 month low of $69.81 and a 12 month high of $112.38. The business has a 50-day moving average of $82.26 and a two-hundred day moving average of $92.95.

Cooper Companies (NASDAQ:COO - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The medical device company reported $0.92 earnings per share for the quarter, hitting analysts' consensus estimates of $0.92. The company had revenue of $964.70 million during the quarter, compared to the consensus estimate of $981.25 million. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. Sell-side analysts forecast that The Cooper Companies, Inc. will post 3.98 EPS for the current fiscal year.

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.