Short Interest in The Cooper Companies, Inc. (NASDAQ:COO) Increases By 14.7%

The Cooper Companies, Inc. (NASDAQ:COO) saw a large increase in short interest in June. As of June 15th, there was short interest totalling 2,970,000 shares, an increase of 14.7% from the May 31st total of 2,590,000 shares. Based on an average daily volume of 1,070,000 shares, the short-interest ratio is presently 2.8 days.

Analyst Upgrades and Downgrades

Several equities analysts have commented on COO shares. Robert W. Baird increased their target price on Cooper Companies from $116.00 to $118.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Citigroup increased their target price on Cooper Companies from $108.00 to $116.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Redburn Atlantic upgraded Cooper Companies from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a research report on Tuesday, March 19th. Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a research report on Friday, May 31st. Finally, JPMorgan Chase & Co. upgraded Cooper Companies from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $100.00 to $120.00 in a research report on Wednesday, March 13th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $111.42.

Cooper Companies Trading Down 1.0 %

COO stock traded down $0.84 during mid-day trading on Wednesday, reaching $85.67. The company’s stock had a trading volume of 129,272 shares, compared to its average volume of 1,098,426. The company has a market cap of $17.06 billion, a price-to-earnings ratio of 50.81, a price-to-earnings-growth ratio of 2.16 and a beta of 0.98. The business’s 50 day moving average price is $92.55 and its 200 day moving average price is $94.77. The company has a current ratio of 1.95, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. Cooper Companies has a 12 month low of $75.93 and a 12 month high of $104.07.

Cooper Companies (NASDAQ:COO) last announced its quarterly earnings data on Thursday, May 30th. The medical device company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Cooper Companies had a return on equity of 8.87% and a net margin of 9.11%. The firm had revenue of $942.60 million during the quarter, compared to analysts’ expectations of $948.07 million. During the same quarter last year, the firm posted $0.77 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities research analysts predict that Cooper Companies will post 3.57 EPS for the current year.

Institutional Trading of Cooper Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in COO. Vanguard Group Inc. grew its position in Cooper Companies by 303.0% during the first quarter. Vanguard Group Inc. now owns 23,099,975 shares of the medical device company’s stock worth $2,343,723,000 after buying an additional 17,367,502 shares in the last quarter. Capital World Investors grew its position in Cooper Companies by 301.7% during the first quarter. Capital World Investors now owns 5,654,023 shares of the medical device company’s stock worth $573,657,000 after buying an additional 4,246,519 shares in the last quarter. Janus Henderson Group PLC grew its position in Cooper Companies by 279.8% during the first quarter. Janus Henderson Group PLC now owns 3,437,064 shares of the medical device company’s stock worth $348,723,000 after buying an additional 2,532,186 shares in the last quarter. Bessemer Group Inc. grew its position in Cooper Companies by 305.2% during the first quarter. Bessemer Group Inc. now owns 2,000,910 shares of the medical device company’s stock worth $203,013,000 after buying an additional 1,507,049 shares in the last quarter. Finally, Swedbank AB purchased a new position in Cooper Companies during the first quarter worth about $139,246,000. 24.39% of the stock is currently owned by institutional investors.

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.