Man Group plc Reduces Stake in The Cooper Companies, Inc. (NASDAQ:COO)

Man Group plc reduced its stake in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 81.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,307 shares of the medical device company's stock after selling 37,115 shares during the quarter. Man Group plc's holdings in Cooper Companies were worth $764,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Byrne Asset Management LLC acquired a new position in shares of Cooper Companies during the 4th quarter worth approximately $33,000. OFI Invest Asset Management acquired a new position in shares of Cooper Companies during the 4th quarter worth approximately $34,000. New Age Alpha Advisors LLC acquired a new position in shares of Cooper Companies during the 4th quarter worth approximately $38,000. Covestor Ltd raised its stake in shares of Cooper Companies by 35.5% during the 4th quarter. Covestor Ltd now owns 458 shares of the medical device company's stock worth $42,000 after buying an additional 120 shares during the period. Finally, Atala Financial Inc acquired a new position in shares of Cooper Companies during the 4th quarter worth approximately $51,000. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Cooper Companies Price Performance

NASDAQ COO traded up $1.76 during mid-day trading on Tuesday, hitting $80.59. The stock had a trading volume of 2,684,416 shares, compared to its average volume of 1,498,312. The firm's 50 day moving average is $80.23 and its 200 day moving average is $88.91. The Cooper Companies, Inc. has a twelve month low of $69.81 and a twelve month high of $112.38. 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 stock has a market capitalization of $16.12 billion, a price-to-earnings ratio of 41.33, a PEG ratio of 2.25 and a beta of 1.08.

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Stifel Nicolaus reduced their target price on Cooper Companies from $115.00 to $105.00 and set a "buy" rating for the company in a research note on Friday, March 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Cooper Companies in a research note on Thursday, May 22nd. JPMorgan Chase & Co. reduced their target price on Cooper Companies from $120.00 to $110.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. Wall Street Zen raised Cooper Companies from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Finally, Robert W. Baird reduced their price objective on Cooper Companies from $117.00 to $107.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $110.25.

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.