California Public Employees Retirement System Has $86.27 Million Holdings in The Cooper Companies, Inc. (NYSE:COO)

California Public Employees Retirement System cut its holdings in shares of The Cooper Companies, Inc. (NYSE:COO) by 29.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 225,001 shares of the medical device company’s stock after selling 91,970 shares during the period. California Public Employees Retirement System owned 0.45% of Cooper Companies worth $86,272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in COO. Colonial Trust Co SC acquired a new stake in shares of Cooper Companies in the 1st quarter valued at approximately $41,000. First Trust Direct Indexing L.P. raised its holdings in Cooper Companies by 4.6% during the 2nd quarter. First Trust Direct Indexing L.P. now owns 1,226 shares of the medical device company’s stock worth $470,000 after buying an additional 54 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in Cooper Companies by 163.4% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 1,886 shares of the medical device company’s stock worth $723,000 after buying an additional 1,170 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in Cooper Companies by 14.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,303 shares of the medical device company’s stock worth $1,266,000 after buying an additional 428 shares during the period. Finally, Truist Financial Corp raised its holdings in Cooper Companies by 2.9% during the 2nd quarter. Truist Financial Corp now owns 25,712 shares of the medical device company’s stock worth $9,859,000 after buying an additional 728 shares during the period. 96.31% of the stock is currently owned by institutional investors and hedge funds.

Cooper Companies Stock Performance

Shares of COO stock opened at $342.95 on Wednesday. The business’s 50 day simple moving average is $326.81 and its 200 day simple moving average is $359.69. The Cooper Companies, Inc. has a one year low of $301.45 and a one year high of $399.62. The stock has a market capitalization of $16.98 billion, a PE ratio of 62.02, a PEG ratio of 2.60 and a beta of 0.94. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.72 and a quick ratio of 0.99.

Cooper Companies (NYSE:COO) last announced its earnings results on Wednesday, August 30th. The medical device company reported $3.35 EPS for the quarter, beating the consensus estimate of $3.34 by $0.01. Cooper Companies had a return on equity of 8.17% and a net margin of 7.83%. The business had revenue of $930.20 million for the quarter, compared to analysts’ expectations of $899.77 million. During the same period in the prior year, the business posted $3.19 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. As a group, research analysts forecast that The Cooper Companies, Inc. will post 12.81 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on the stock. Citigroup dropped their target price on shares of Cooper Companies from $440.00 to $420.00 in a report on Monday, October 2nd. Mizuho reaffirmed a “buy” rating and set a $440.00 price target on shares of Cooper Companies in a research note on Monday, August 28th. Robert W. Baird raised their price target on shares of Cooper Companies from $400.00 to $410.00 and gave the stock an “outperform” rating in a research note on Thursday, August 31st. Redburn Atlantic cut shares of Cooper Companies from a “buy” rating to a “neutral” rating and decreased their target price for the company from $390.00 to $343.00 in a research note on Thursday, October 5th. Finally, Morgan Stanley began coverage on Cooper Companies in a report on Thursday, September 28th. They set an “equal weight” rating and a $410.00 price target for the company. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $401.30.

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, myopia, ocular dryness and eye fatigues in the Americas, Europe, Middle East, Africa, and Asia Pacific.