Lord Abbett & CO. LLC Lowers Position in The Cooper Companies, Inc. $COO

Key Points

• Lord Abbett & CO. LLC has reduced its stake in The Cooper Companies by 20.8%, now holding approximately 197,579 shares valued at about $16.67 million.
• Multiple institutional investors have increased their positions in Cooper Companies, contributing to institutional ownership of 24.39% of the company’s stock.
• Wall Street analysts have mixed ratings on Cooper Companies, with a consensus rating of "Moderate Buy" and a price target averaging $96.73.

Lord Abbett & CO. LLC lessened its holdings in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 20.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 197,579 shares of the medical device company's stock after selling 51,755 shares during the quarter. Lord Abbett & CO. LLC owned 0.10% of Cooper Companies worth $16,666,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zions Bancorporation National Association UT acquired a new stake in shares of Cooper Companies during the first quarter worth approximately $33,000. City Holding Co. bought a new stake in Cooper Companies in the first quarter valued at $34,000. GKV Capital Management Co. Inc. bought a new stake in Cooper Companies in the first quarter valued at $40,000. Larson Financial Group LLC lifted its stake in Cooper Companies by 1,071.0% in the first quarter. Larson Financial Group LLC now owns 726 shares of the medical device company's stock valued at $61,000 after buying an additional 664 shares during the last quarter. Finally, HM Payson & Co. lifted its stake in Cooper Companies by 147.4% in the first quarter. HM Payson & Co. now owns 893 shares of the medical device company's stock valued at $75,000 after buying an additional 532 shares during the last quarter. Institutional investors and hedge funds own 24.39% of the company's stock.

Cooper Companies Stock Down 0.3%

Shares of NASDAQ COO traded down $0.2260 during mid-day trading on Thursday, reaching $73.2740. 536,156 shares of the company's stock were exchanged, compared to its average volume of 2,150,062. The business has a fifty day simple moving average of $72.02 and a 200 day simple moving average of $78.62. The Cooper Companies, Inc. has a twelve month low of $65.00 and a twelve month high of $112.38. The firm has a market capitalization of $14.65 billion, a price-to-earnings ratio of 35.69, a PEG ratio of 1.81 and a beta of 1.00. The company has a current ratio of 2.10, a quick ratio of 1.23 and a debt-to-equity ratio of 0.30.

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 analysts' consensus estimates of $0.93 by $0.03. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $995.12 million. Cooper Companies had a return on equity of 9.60% and a net margin of 10.39%.The business's revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $0.85 earnings per share. Cooper Companies has set its FY 2025 guidance at 4.050-4.110 EPS. As a group, equities analysts expect that The Cooper Companies, Inc. will post 3.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on COO. BNP Paribas upgraded shares of Cooper Companies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. Loop Capital set a $100.00 price target on Cooper Companies in a report on Tuesday, June 17th. BNP Paribas Exane upgraded Cooper Companies from a "neutral" rating to an "outperform" rating and set a $92.00 target price for the company in a report on Tuesday, July 22nd. Mizuho lowered their price objective on Cooper Companies from $105.00 to $90.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $76.00 target price (down previously from $110.00) on shares of Cooper Companies in a report on Friday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average 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.