Prudential PLC Has $5.40 Million Stock Holdings in The Cooper Companies, Inc. $COO

Key Points

• Prudential PLC increased its stake in The Cooper Companies, Inc. by 51.2%, owning a total of 64,011 shares worth approximately $5.4 million as of its latest filing.
• The Cooper Companies reported a Earnings Per Share (EPS) of $0.96 for the last quarter, surpassing analysts' estimates of $0.93, while total revenue reached $1 billion, which was above expectations.
• Wall Street analysts have varying ratings on the stock, with a consensus rating of "Moderate Buy" and an average price target of $96.73, despite some recent price target decreases from firms like JPMorgan and Wells Fargo.

Prudential PLC increased its stake in shares of The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 51.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,011 shares of the medical device company's stock after buying an additional 21,670 shares during the quarter. Prudential PLC's holdings in Cooper Companies were worth $5,399,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in Cooper Companies by 517.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,529,477 shares of the medical device company's stock valued at $324,466,000 after purchasing an additional 2,957,421 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Cooper Companies by 17.0% in the first quarter. Goldman Sachs Group Inc. now owns 4,734,327 shares of the medical device company's stock valued at $399,340,000 after acquiring an additional 686,751 shares during the last quarter. Nuveen LLC acquired a new position in shares of Cooper Companies in the 1st quarter valued at $55,367,000. SG Americas Securities LLC grew its holdings in Cooper Companies by 8,337.0% during the first quarter. SG Americas Securities LLC now owns 369,542 shares of the medical device company's stock valued at $31,171,000 after purchasing an additional 365,162 shares during the period. Finally, Alecta Tjanstepension Omsesidigt raised its holdings in Cooper Companies by 55.8% during the 1st quarter. Alecta Tjanstepension Omsesidigt now owns 839,700 shares of the medical device company's stock worth $70,829,000 after buying an additional 300,700 shares during the period. 24.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on COO. Loop Capital set a $100.00 price target on shares of Cooper Companies in a research note on Tuesday, June 17th. Robert W. Baird dropped their price target on Cooper Companies from $107.00 to $97.00 and set an "outperform" rating for the company in a research note on Friday, May 30th. BNP Paribas Exane raised shares of Cooper Companies from a "neutral" rating to an "outperform" rating and set a $92.00 price target for the company in a research note on Tuesday, July 22nd. Piper Sandler restated an "overweight" rating and issued a $105.00 price target (down previously from $115.00) on shares of Cooper Companies in a research report on Friday, May 30th. Finally, Wall Street Zen lowered Cooper Companies from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $96.73.

Cooper Companies Stock Up 1.1%

Cooper Companies stock traded up $0.82 during midday trading on Monday, hitting $74.08. 573,806 shares of the company were exchanged, compared to its average volume of 2,148,228. 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 Cooper Companies, Inc. has a fifty-two week low of $65.00 and a fifty-two week high of $112.38. The company's fifty day moving average price is $71.92 and its 200-day moving average price is $78.84. The company has a market cap of $14.81 billion, a PE ratio of 35.94, a price-to-earnings-growth ratio of 1.79 and a beta of 1.00.

Cooper Companies (NASDAQ:COO - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The medical device company reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. The business had revenue of $1 billion for the quarter, compared to analysts' expectations of $995.12 million. Cooper Companies had a net margin of 10.39% and a return on equity of 9.60%. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 EPS. On average, research analysts predict that The Cooper Companies, Inc. will post 3.98 EPS for the current fiscal year.

Cooper Companies Company 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.