Man Group plc Cuts Stock Position in The Cooper Companies, Inc. (NASDAQ:COO)

Man Group plc trimmed its position in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 81.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,307 shares of the medical device company's stock after selling 37,115 shares during the period. Man Group plc's holdings in Cooper Companies were worth $764,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of COO. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Cooper Companies during the fourth quarter worth approximately $691,000. Highland Capital Management LLC bought a new stake in Cooper Companies during the fourth quarter worth $4,004,000. Caprock Group LLC acquired a new stake in Cooper Companies in the fourth quarter valued at about $282,000. Entropy Technologies LP bought a new stake in shares of Cooper Companies during the 4th quarter valued at approximately $248,000. Finally, Lecap Asset Management Ltd. increased its holdings in shares of Cooper Companies by 33.1% during the fourth quarter. Lecap Asset Management Ltd. now owns 11,955 shares of the medical device company's stock worth $1,099,000 after buying an additional 2,974 shares in the last quarter. 24.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on COO. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $76.00 price target (down previously from $110.00) on shares of Cooper Companies in a research note on Friday. Wells Fargo & Company dropped their price target on Cooper Companies from $118.00 to $93.00 and set an "overweight" rating on the stock in a research note on Friday. Piper Sandler reiterated an "overweight" rating and set a $115.00 price objective (down from $120.00) on shares of Cooper Companies in a report on Friday, March 7th. Robert W. Baird decreased their price target on Cooper Companies from $117.00 to $107.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Finally, Citigroup dropped their target price on shares of Cooper Companies from $115.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, March 7th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $102.88.

Cooper Companies Stock Performance

NASDAQ:COO traded down $12.00 on Friday, reaching $67.96. 3,214,415 shares of the company's stock were exchanged, compared to its average volume of 1,520,205. The Cooper Companies, Inc. has a 52 week low of $66.03 and a 52 week high of $112.38. The firm has a market cap of $13.59 billion, a price-to-earnings ratio of 34.85, a P/E/G ratio of 2.25 and a beta of 1.08. 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 fifty day simple moving average of $80.12 and a 200-day simple moving average of $88.69.

Cooper Companies (NASDAQ:COO - Get Free Report) last announced 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 return on equity of 9.38% and a net margin of 10.07%. The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $995.12 million. During the same period in the prior year, the business posted $0.85 earnings per share. The company's revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts predict that The Cooper Companies, Inc. will post 3.98 earnings per share for the current 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.