Kayne Anderson Rudnick Investment Management LLC Trims Stock Position in The Cooper Companies, Inc. $COO

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its stake in The Cooper Companies by 1.2%, holding 7,985,239 shares after selling 97,641 shares in the first quarter.
• Multiple institutional investors are adjusting their positions in The Cooper Companies, with Mirae Asset Global Investments increasing its stake by 15.1% in the same period.
• Analysts have mixed ratings on Cooper Companies stock, with a consensus average rating of "Moderate Buy" and a target price of $96.73, despite some brokerages lowering their price objectives.

Kayne Anderson Rudnick Investment Management LLC lowered its stake in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 1.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,985,239 shares of the medical device company's stock after selling 97,641 shares during the period. Cooper Companies makes up approximately 1.6% of Kayne Anderson Rudnick Investment Management LLC's portfolio, making the stock its 10th biggest holding. Kayne Anderson Rudnick Investment Management LLC owned about 3.99% of Cooper Companies worth $673,555,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of COO. Shell Asset Management Co. increased its stake in Cooper Companies by 15.5% during the fourth quarter. Shell Asset Management Co. now owns 946 shares of the medical device company's stock worth $87,000 after acquiring an additional 127 shares during the last quarter. UMB Bank n.a. increased its stake in Cooper Companies by 16.7% during the first quarter. UMB Bank n.a. now owns 902 shares of the medical device company's stock worth $76,000 after acquiring an additional 129 shares during the last quarter. Horizon Investments LLC increased its stake in Cooper Companies by 5.0% during the first quarter. Horizon Investments LLC now owns 2,859 shares of the medical device company's stock worth $241,000 after acquiring an additional 136 shares during the last quarter. Axxcess Wealth Management LLC increased its stake in Cooper Companies by 1.9% during the first quarter. Axxcess Wealth Management LLC now owns 7,382 shares of the medical device company's stock worth $623,000 after acquiring an additional 140 shares during the last quarter. Finally, Mitchell & Pahl Private Wealth LLC increased its stake in Cooper Companies by 1.8% during the first quarter. Mitchell & Pahl Private Wealth LLC now owns 8,675 shares of the medical device company's stock worth $732,000 after acquiring an additional 157 shares during the last quarter. Institutional investors and hedge funds own 24.39% of the company's stock.

Cooper Companies Stock Up 0.2%

NASDAQ COO traded up $0.18 during mid-day trading on Tuesday, reaching $73.66. 4,307,279 shares of the company's stock traded hands, compared to its average volume of 1,627,738. The Cooper Companies, Inc. has a 1-year low of $65.00 and a 1-year high of $112.38. The company has a fifty day simple moving average of $72.35 and a 200-day simple moving average of $77.91. The company has a current ratio of 2.10, a quick ratio of 1.23 and a debt-to-equity ratio of 0.30. The company has a market cap of $14.73 billion, a price-to-earnings ratio of 35.76, a P/E/G ratio of 1.79 and a beta of 1.00.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on COO. Mizuho dropped their price target on Cooper Companies from $105.00 to $90.00 and set an "outperform" rating for the company in a research note on Wednesday, July 16th. Robert W. Baird dropped their target price on Cooper Companies from $107.00 to $97.00 and set an "outperform" rating on the stock in a report on Friday, May 30th. BNP Paribas Exane upgraded Cooper Companies from a "neutral" rating to an "outperform" rating and set a $92.00 target price on the stock in a report on Tuesday, July 22nd. BNP Paribas upgraded Cooper Companies from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $76.00 target price (down from $110.00) on shares of Cooper Companies in a report on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $96.73.

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.