abrdn plc Has $36.70 Million Stock Position in The Cooper Companies, Inc. (NASDAQ:COO)

abrdn plc grew its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 5.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 333,733 shares of the medical device company’s stock after buying an additional 17,176 shares during the quarter. abrdn plc’s holdings in Cooper Companies were worth $36,699,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Innealta Capital LLC acquired a new position in shares of Cooper Companies during the 2nd quarter worth approximately $25,000. Covestor Ltd raised its position in Cooper Companies by 305.9% during the first quarter. Covestor Ltd now owns 276 shares of the medical device company’s stock worth $28,000 after acquiring an additional 208 shares in the last quarter. Crewe Advisors LLC lifted its stake in Cooper Companies by 286.4% in the second quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock valued at $30,000 after acquiring an additional 252 shares during the last quarter. Tortoise Investment Management LLC grew its position in shares of Cooper Companies by 75.4% in the 2nd quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company’s stock valued at $34,000 after acquiring an additional 169 shares during the period. Finally, Clearstead Trust LLC acquired a new position in shares of Cooper Companies during the 1st quarter worth about $36,000. 24.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cooper Companies

In other news, COO Daniel G. Mcbride sold 114,992 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $105.48, for a total transaction of $12,129,356.16. Following the sale, the chief operating officer now directly owns 44,696 shares in the company, valued at approximately $4,714,534.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO Daniel G. Mcbride sold 114,992 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $105.48, for a total transaction of $12,129,356.16. Following the completion of the transaction, the chief operating officer now owns 44,696 shares of the company’s stock, valued at approximately $4,714,534.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Agostino Ricupati sold 1,601 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $108.03, for a total transaction of $172,956.03. Following the completion of the sale, the chief accounting officer now directly owns 4,818 shares in the company, valued at approximately $520,488.54. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 256,373 shares of company stock valued at $27,637,427 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on COO. Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a research note on Thursday, August 29th. Wells Fargo & Company increased their price target on Cooper Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Morgan Stanley raised their target price on shares of Cooper Companies from $95.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 10th. Jefferies Financial Group raised Cooper Companies from a “hold” rating to a “buy” rating and upped their target price for the company from $107.00 to $115.00 in a research report on Tuesday, July 16th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $115.00 price target (up from $110.00) on shares of Cooper Companies in a research note on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Cooper Companies has a consensus rating of “Moderate Buy” and an average price target of $117.00.

Cooper Companies Stock Performance

Cooper Companies stock opened at $105.20 on Thursday. The stock has a market cap of $20.95 billion, a PE ratio of 58.44, a P/E/G ratio of 2.53 and a beta of 0.98. The company has a quick ratio of 1.18, a current ratio of 1.99 and a debt-to-equity ratio of 0.33. The Cooper Companies, Inc. has a 12-month low of $77.01 and a 12-month high of $112.38. The business’s 50-day moving average price is $106.34 and its two-hundred day moving average price is $96.91.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings data on Wednesday, August 28th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.05. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $997.30 million. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 EPS. As a group, analysts expect that The Cooper Companies, Inc. will post 3.65 earnings per share for the current fiscal year.

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.