The Cooper Companies, Inc. $COO Position Lowered by California Public Employees Retirement System

Key Points

• California Public Employees Retirement System reduced its stake in Cooper Companies by 15.1% in the first quarter, selling 60,441 shares and leaving it with 338,750 shares valued at about $24.2 million.
• Cooper Companies reported better-than-expected quarterly earnings, posting $1.21 EPS on revenue of $1.08 billion, both ahead of analyst estimates, while revenue rose 7.9% year over year.
• Wall Street sentiment is mixed: the stock has a consensus Hold rating and an average price target of $81.85, even as some firms like Piper Sandler and Needham maintained bullish targets near $86.

California Public Employees Retirement System trimmed its position in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 15.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 338,750 shares of the medical device company's stock after selling 60,441 shares during the period. California Public Employees Retirement System owned 0.17% of Cooper Companies worth $24,221,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COO. State Street Corp lifted its holdings in Cooper Companies by 2.4% during the 4th quarter. State Street Corp now owns 8,793,747 shares of the medical device company's stock worth $720,736,000 after buying an additional 207,195 shares during the last quarter. Wellington Management Group LLP increased its stake in Cooper Companies by 332.9% during the third quarter. Wellington Management Group LLP now owns 6,184,992 shares of the medical device company's stock valued at $424,043,000 after purchasing an additional 4,756,178 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Cooper Companies by 58.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,028,821 shares of the medical device company's stock worth $494,123,000 after purchasing an additional 2,231,568 shares during the period. Sustainable Growth Advisers LP raised its holdings in shares of Cooper Companies by 22.1% during the third quarter. Sustainable Growth Advisers LP now owns 4,132,535 shares of the medical device company's stock worth $283,327,000 after purchasing an additional 747,476 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Cooper Companies by 108.2% in the 4th quarter. Franklin Resources Inc. now owns 4,022,033 shares of the medical device company's stock worth $329,646,000 after buying an additional 2,089,763 shares during the last quarter. 24.39% of the stock is owned by institutional investors.

Cooper Companies Stock Down 0.7%

Cooper Companies stock opened at $70.50 on Thursday. The Cooper Companies, Inc. has a 52 week low of $58.89 and a 52 week high of $89.83. The stock has a market cap of $13.75 billion, a price-to-earnings ratio of 59.75, a PEG ratio of 1.86 and a beta of 0.84. The company's 50-day moving average price is $66.93 and its two-hundred day moving average price is $72.28. The company has a current ratio of 1.27, a quick ratio of 0.78 and a debt-to-equity ratio of 0.23.

Cooper Companies (NASDAQ:COO - Get Free Report) last posted its quarterly earnings data on Thursday, June 4th. The medical device company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.11. Cooper Companies had a net margin of 5.57% and a return on equity of 10.88%. The business had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same period last year, the firm posted $0.96 earnings per share. The business's revenue was up 7.9% on a year-over-year basis. Cooper Companies has set its FY 2026 guidance at 4.580-4.660 EPS. On average, analysts expect that The Cooper Companies, Inc. will post 4.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

COO has been the subject of a number of recent research reports. Piper Sandler set a $86.00 price objective on shares of Cooper Companies and gave the company an "overweight" rating in a research report on Monday, June 1st. Needham & Company LLC cut their target price on shares of Cooper Companies from $101.00 to $86.00 and set a "buy" rating on the stock in a report on Friday, June 5th. KeyCorp restated a "sector weight" rating on shares of Cooper Companies in a research note on Friday, June 5th. Citigroup reaffirmed a "neutral" rating and set a $76.00 target price (up from $69.00) on shares of Cooper Companies in a report on Wednesday, July 8th. Finally, The Goldman Sachs Group set a $61.00 price target on Cooper Companies in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $81.85.

About Cooper Companies

Cooper Companies, Inc NASDAQ: COO is a global medical device company headquartered in San Ramon, California. Founded in 1958, the company has grown through strategic acquisitions and organic development to become a major provider of vision care and women's health products. Cooper Companies operates through two primary business segments—CooperVision and CooperSurgical—each serving specialized markets within the healthcare industry.

The CooperVision segment develops, manufactures and markets a broad range of soft contact lenses, as well as related accessories.

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