State of New Jersey Common Pension Fund D Reduces Holdings in The Cooper Companies, Inc. $COO

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in The Cooper Companies by 5.4%, now owning 66,564 shares worth approximately $5.6 million.
• Several institutional investors significantly increased their stakes in Cooper Companies, with Price T Rowe Associates lifting its position by 517% in the fourth quarter, now holding over 3.5 million shares.
• The Cooper Companies recently reported quarterly earnings of $0.96 per share, surpassing analysts' expectations and demonstrating a 6.3% revenue increase compared to the same period last year.

State of New Jersey Common Pension Fund D decreased its stake in The Cooper Companies, Inc. (NASDAQ:COO - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,564 shares of the medical device company's stock after selling 3,803 shares during the period. State of New Jersey Common Pension Fund D's holdings in Cooper Companies were worth $5,615,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Shell Asset Management Co. raised its position in Cooper Companies by 15.5% in the fourth quarter. Shell Asset Management Co. now owns 946 shares of the medical device company's stock worth $87,000 after acquiring an additional 127 shares during the period. UMB Bank n.a. increased its stake in shares of Cooper Companies by 16.7% in the first quarter. UMB Bank n.a. now owns 902 shares of the medical device company's stock worth $76,000 after purchasing an additional 129 shares in the last quarter. Horizon Investments LLC increased its stake in shares of Cooper Companies by 5.0% in the first quarter. Horizon Investments LLC now owns 2,859 shares of the medical device company's stock worth $241,000 after purchasing an additional 136 shares in the last quarter. Axxcess Wealth Management LLC increased its stake in shares of Cooper Companies by 1.9% in the first quarter. Axxcess Wealth Management LLC now owns 7,382 shares of the medical device company's stock worth $623,000 after purchasing an additional 140 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC increased its stake in shares of Cooper Companies by 1.8% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 8,675 shares of the medical device company's stock worth $732,000 after purchasing an additional 157 shares in the last quarter. Institutional investors own 24.39% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on COO shares. BNP Paribas upgraded shares of Cooper Companies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. Robert W. Baird reduced their price objective on shares of Cooper Companies from $107.00 to $97.00 and set an "outperform" rating for the company in a research note on Friday, May 30th. Loop Capital set a $100.00 price objective on shares of Cooper Companies in a research note on Tuesday, June 17th. UBS Group raised shares of Cooper Companies to a "buy" rating in a research note on Tuesday, June 17th. Finally, BNP Paribas Exane raised shares of Cooper Companies from a "neutral" rating to an "outperform" rating and set a $92.00 price objective for the company in a research note on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $96.73.

Cooper Companies Trading Up 3.0%

Shares of Cooper Companies stock traded up $2.18 during trading on Friday, reaching $75.22. The company's stock had a trading volume of 1,992,159 shares, compared to its average volume of 1,562,351. The Cooper Companies, Inc. has a 52-week low of $65.00 and a 52-week high of $112.38. The company has a market cap of $15.04 billion, a price-to-earnings ratio of 36.51, a PEG ratio of 1.78 and a beta of 1.00. The firm's 50-day moving average is $72.18 and its two-hundred day moving average is $78.32. The company has a quick ratio of 1.23, a current ratio of 2.10 and a debt-to-equity ratio of 0.30.

Cooper Companies (NASDAQ:COO - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The company had revenue of $1 billion during 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 firm's revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. Cooper Companies has set its FY 2025 guidance at 4.050-4.110 EPS. On average, sell-side analysts anticipate 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.