Needham & Company LLC Reiterates Hold Rating for Cooper Companies (NASDAQ:COO)

Cooper Companies (NASDAQ:COO)‘s stock had its “hold” rating restated by investment analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports.

A number of other brokerages also recently commented on COO. StockNews.com downgraded Cooper Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $115.00 price objective (up previously from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. Wells Fargo & Company boosted their target price on shares of Cooper Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Morgan Stanley raised their price target on shares of Cooper Companies from $95.00 to $104.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 10th. Finally, Robert W. Baird boosted their price objective on Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $117.00.

Cooper Companies Trading Up 0.8 %

NASDAQ COO opened at $103.43 on Wednesday. The firm has a market capitalization of $20.60 billion, a PE ratio of 57.46, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. Cooper Companies has a one year low of $82.21 and a one year high of $112.38. The company has a 50-day simple moving average of $105.45 and a 200-day simple moving average of $98.48. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.99.

Cooper Companies (NASDAQ:COO) last posted its earnings results on Wednesday, August 28th. The medical device company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.91 by $0.05. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $997.30 million. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 earnings per share. On average, equities analysts forecast that Cooper Companies will post 3.65 earnings per share for the current year.

Insider Transactions at Cooper Companies

In other Cooper Companies news, CAO Agostino Ricupati sold 1,601 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $108.03, for a total value of $172,956.03. Following the transaction, the chief accounting officer now owns 4,818 shares of the company’s stock, valued at approximately $520,488.54. This represents a 24.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Daniel G. Mcbride sold 114,992 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $105.48, for a total value of $12,129,356.16. Following the sale, the chief operating officer now owns 44,696 shares of the company’s stock, valued at $4,714,534.08. This trade represents a 72.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 256,373 shares of company stock valued at $27,637,427. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Cooper Companies

A number of institutional investors and hedge funds have recently modified their holdings of COO. LRI Investments LLC raised its holdings in Cooper Companies by 4.5% during the 2nd quarter. LRI Investments LLC now owns 2,595 shares of the medical device company’s stock worth $227,000 after buying an additional 112 shares during the period. Mitchell & Pahl Private Wealth LLC lifted its position in shares of Cooper Companies by 1.5% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 7,986 shares of the medical device company’s stock valued at $881,000 after acquiring an additional 117 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Cooper Companies by 0.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 15,600 shares of the medical device company’s stock worth $1,362,000 after purchasing an additional 118 shares during the period. Bleakley Financial Group LLC grew its position in Cooper Companies by 2.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 5,767 shares of the medical device company’s stock worth $636,000 after purchasing an additional 119 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its stake in Cooper Companies by 4.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,709 shares of the medical device company’s stock valued at $236,000 after purchasing an additional 125 shares during the period. 24.39% of the stock is owned by institutional investors and hedge funds.

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.