Aberdeen Group plc Lowers Stake in The Cooper Companies, Inc. $COO

Key Points

• Aberdeen Group plc significantly reduced its stake in The Cooper Companies, Inc. by 61.6%, owning approximately 118,331 shares after selling 190,021 shares during the 1st quarter.
• The Cooper Companies reported earnings of $0.96 per share for the latest quarter, exceeding expectations and marking a 6.3% increase in revenue year-over-year.
• Numerous analysts have downgraded their price targets for Cooper Companies, with Robert W. Baird reducing it to $97.00 from $107.00, reflecting a shift in market sentiment.

Aberdeen Group plc reduced its position in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 61.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,331 shares of the medical device company's stock after selling 190,021 shares during the quarter. Aberdeen Group plc owned 0.06% of Cooper Companies worth $9,903,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Zions Bancorporation National Association UT purchased a new stake in shares of Cooper Companies during the 1st quarter worth about $33,000. City Holding Co. purchased a new stake in shares of Cooper Companies during the 1st quarter worth about $34,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Cooper Companies during the 1st quarter worth about $40,000. Larson Financial Group LLC boosted its stake in shares of Cooper Companies by 1,071.0% during the 1st quarter. Larson Financial Group LLC now owns 726 shares of the medical device company's stock worth $61,000 after acquiring an additional 664 shares in the last quarter. Finally, HM Payson & Co. raised its position in shares of Cooper Companies by 147.4% during the 1st quarter. HM Payson & Co. now owns 893 shares of the medical device company's stock worth $75,000 after purchasing an additional 532 shares during the last quarter. 24.39% of the stock is owned by hedge funds and other institutional investors.

Cooper Companies Stock Performance

Cooper Companies stock opened at $74.02 on Wednesday. The firm has a 50 day simple moving average of $71.98 and a 200-day simple moving average of $78.65. The Cooper Companies, Inc. has a 1-year low of $65.00 and a 1-year high of $112.38. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.10 and a quick ratio of 1.23. The stock has a market cap of $14.80 billion, a price-to-earnings ratio of 35.93, a price-to-earnings-growth ratio of 1.79 and a beta of 1.00.

Cooper Companies (NASDAQ:COO - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The medical device company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. Cooper Companies had a net margin of 10.39% and a return on equity of 9.60%. The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $995.12 million. During the same quarter in the prior year, the company posted $0.85 EPS. The business's revenue for the quarter was up 6.3% on a year-over-year basis. Cooper Companies has set its FY 2025 guidance at 4.050-4.110 EPS. On average, analysts expect that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Robert W. Baird reduced their price target on shares of Cooper Companies from $107.00 to $97.00 and set an "outperform" rating for the company in a research report on Friday, May 30th. Mizuho reduced their price target on shares of Cooper Companies from $105.00 to $90.00 and set an "outperform" rating for the company in a research report on Wednesday, July 16th. Wall Street Zen downgraded shares of Cooper Companies from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Wells Fargo & Company reduced their price target on shares of Cooper Companies from $118.00 to $93.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $76.00 price target (down previously from $110.00) on shares of Cooper Companies in a research report on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $96.73.

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.

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