Cooper Companies (NASDAQ:COO) Cut to Hold at StockNews.com

StockNews.com cut shares of Cooper Companies (NASDAQ:COO) from a buy rating to a hold rating in a report released on Wednesday.

Other equities analysts have also recently issued research reports about the stock. Robert W. Baird increased their price objective on shares of Cooper Companies from $118.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a report on Friday, December 6th. Piper Sandler boosted their price objective on Cooper Companies from $115.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Wells Fargo & Company increased their target price on Cooper Companies from $115.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Citigroup reduced their price target on shares of Cooper Companies from $116.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.00.

Cooper Companies Price Performance

Shares of COO opened at $94.85 on Wednesday. The business has a 50-day moving average of $103.49 and a 200-day moving average of $98.87. Cooper Companies has a 1 year low of $84.76 and a 1 year high of $112.38. The company has a market capitalization of $18.93 billion, a price-to-earnings ratio of 48.64, a price-to-earnings-growth ratio of 2.52 and a beta of 0.97. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.12.

Cooper Companies (NASDAQ:COO) last announced its earnings results on Thursday, December 5th. The medical device company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. Cooper Companies’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 earnings per share. As a group, equities research analysts anticipate that Cooper Companies will post 3.98 earnings per share for the current year.

Insider Buying and Selling at Cooper Companies

In related news, CEO Albert G. White III sold 114,992 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $110.53, for a total transaction of $12,710,065.76. Following the sale, the chief executive officer now owns 165,273 shares of the company’s stock, valued at approximately $18,267,624.69. This represents a 41.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Trading of Cooper Companies

A number of large investors have recently modified their holdings of the business. Innealta Capital LLC bought a new stake in shares of Cooper Companies during the 2nd quarter worth $25,000. Ashton Thomas Securities LLC bought a new stake in Cooper Companies during the third quarter worth about $25,000. Crewe Advisors LLC boosted its holdings in shares of Cooper Companies by 286.4% in the 2nd quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock worth $30,000 after purchasing an additional 252 shares in the last quarter. Tortoise Investment Management LLC increased its position in shares of Cooper Companies by 75.4% during the 2nd quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 169 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of Cooper Companies by 144.9% during the 3rd quarter. Covestor Ltd now owns 338 shares of the medical device company’s stock valued at $37,000 after buying an additional 200 shares in the last quarter. Institutional investors own 24.39% of the company’s stock.

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.