PNC Financial Services Group Inc. Sells 1,875 Shares of The Cooper Companies, Inc. (NASDAQ:COO)

PNC Financial Services Group Inc. cut its stake in The Cooper Companies, Inc. (NASDAQ:COO) by 2.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,089 shares of the medical device company’s stock after selling 1,875 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Cooper Companies were worth $7,638,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in COO. Principal Financial Group Inc. raised its holdings in Cooper Companies by 6.6% in the 3rd quarter. Principal Financial Group Inc. now owns 238,305 shares of the medical device company’s stock worth $26,295,000 after purchasing an additional 14,687 shares in the last quarter. Covestor Ltd increased its stake in shares of Cooper Companies by 144.9% in the 3rd quarter. Covestor Ltd now owns 338 shares of the medical device company’s stock worth $37,000 after acquiring an additional 200 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Cooper Companies in the 3rd quarter worth about $25,000. Catalytic Wealth RIA LLC bought a new position in shares of Cooper Companies in the 3rd quarter worth about $318,000. Finally, Venturi Wealth Management LLC increased its stake in shares of Cooper Companies by 40.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 4,699 shares of the medical device company’s stock worth $518,000 after acquiring an additional 1,351 shares in the last quarter. 24.39% of the stock is currently owned by institutional investors.

Cooper Companies Stock Performance

Shares of NASDAQ COO opened at $81.03 on Wednesday. The firm’s 50-day moving average price is $91.93 and its 200-day moving average price is $99.25. The company has a quick ratio of 1.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.32. The company has a market cap of $16.17 billion, a PE ratio of 41.55, a PEG ratio of 2.25 and a beta of 1.02. The Cooper Companies, Inc. has a 52-week low of $78.43 and a 52-week high of $112.38.

Cooper Companies (NASDAQ:COO) last announced its quarterly earnings results on Thursday, March 6th. The medical device company reported $0.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.92. The firm had revenue of $964.70 million for the quarter, compared to the consensus estimate of $981.25 million. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. As a group, analysts anticipate that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

Wall Street Analysts Forecast Growth

COO has been the subject of several research reports. Piper Sandler reiterated an “overweight” rating and issued a $115.00 price target (down from $120.00) on shares of Cooper Companies in a research note on Friday, March 7th. Citigroup reduced their price objective on shares of Cooper Companies from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, March 7th. JPMorgan Chase & Co. reduced their price objective on shares of Cooper Companies from $120.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Stifel Nicolaus reduced their price objective on shares of Cooper Companies from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Finally, Wells Fargo & Company raised their price objective on shares of Cooper Companies from $115.00 to $118.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $111.89.

About Cooper Companies

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.