Federated Hermes Inc. Cuts Holdings in The Cooper Companies, Inc. (NASDAQ:COO)

Federated Hermes Inc. lessened its position in shares of The Cooper Companies, Inc. (NASDAQ:COO) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 178,840 shares of the medical device company’s stock after selling 2,414 shares during the period. Federated Hermes Inc.’s holdings in Cooper Companies were worth $15,613,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COO. Meeder Advisory Services Inc. increased its position in shares of Cooper Companies by 9.7% in the second quarter. Meeder Advisory Services Inc. now owns 3,734 shares of the medical device company’s stock worth $326,000 after acquiring an additional 331 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in Cooper Companies by 2.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 38,814 shares of the medical device company’s stock valued at $3,393,000 after purchasing an additional 1,026 shares during the period. Qsemble Capital Management LP purchased a new position in Cooper Companies in the second quarter valued at about $4,078,000. American Century Companies Inc. lifted its stake in shares of Cooper Companies by 3.9% during the second quarter. American Century Companies Inc. now owns 42,911 shares of the medical device company’s stock worth $3,746,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Headlands Technologies LLC boosted its position in shares of Cooper Companies by 224.6% in the second quarter. Headlands Technologies LLC now owns 36,325 shares of the medical device company’s stock worth $3,171,000 after buying an additional 25,136 shares during the period. 24.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on COO. Stifel Nicolaus reiterated a “buy” rating and set a $115.00 target price (up from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. Piper Sandler boosted their target price on shares of Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Wells Fargo & Company raised their price target on shares of Cooper Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Morgan Stanley boosted their price objective on shares of Cooper Companies from $95.00 to $104.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 10th. Finally, Jefferies Financial Group raised Cooper Companies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $107.00 to $115.00 in a research report on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.00.

Insider Buying and Selling

In other Cooper Companies news, COO Daniel G. Mcbride sold 114,992 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $105.48, for a total value of $12,129,356.16. Following the transaction, the chief operating officer now directly owns 44,696 shares of the company’s stock, valued at approximately $4,714,534.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, COO Daniel G. Mcbride sold 114,992 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $105.48, for a total transaction of $12,129,356.16. Following the completion of the sale, the chief operating officer now owns 44,696 shares in the company, valued at approximately $4,714,534.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian G. Andrews sold 24,788 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $105.90, for a total value of $2,625,049.20. Following the transaction, the chief financial officer now owns 6,614 shares in the company, valued at approximately $700,422.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 141,381 shares of company stock worth $14,927,361. 2.00% of the stock is owned by company insiders.

Cooper Companies Stock Performance

Shares of COO stock opened at $111.23 on Tuesday. The Cooper Companies, Inc. has a 12-month low of $75.93 and a 12-month high of $112.38. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.99 and a quick ratio of 1.18. The firm has a market capitalization of $22.15 billion, a price-to-earnings ratio of 65.43, a price-to-earnings-growth ratio of 2.60 and a beta of 0.98. The business has a 50 day simple moving average of $96.10 and a 200 day simple moving average of $95.21.

Cooper Companies (NASDAQ:COO) last issued its quarterly earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.05. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $997.30 million. During the same period last year, the firm earned $0.84 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts anticipate that The Cooper Companies, Inc. will post 3.66 EPS for the current 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.