Morgan Stanley Boosts Cooper Companies (NASDAQ:COO) Price Target to $104.00

Cooper Companies (NASDAQ:COO) had its price objective lifted by Morgan Stanley from $95.00 to $104.00 in a research report report published on Tuesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the medical device company’s stock.

COO has been the subject of a number of other reports. Stifel Nicolaus reiterated a buy rating and issued a $115.00 target price (up from $110.00) on shares of Cooper Companies in a research note on Thursday, August 29th. Piper Sandler boosted their price objective on shares of Cooper Companies from $115.00 to $120.00 and gave the company an overweight rating in a report on Thursday, August 29th. Robert W. Baird raised their target price on Cooper Companies from $118.00 to $125.00 and gave the stock an outperform rating in a research note on Thursday, August 29th. Wells Fargo & Company boosted their price target on Cooper Companies from $110.00 to $115.00 and gave the company an overweight rating in a research note on Thursday, August 29th. Finally, Jefferies Financial Group upgraded Cooper Companies from a hold rating to a buy rating and raised their price objective for the stock from $107.00 to $115.00 in a research note on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $115.00.

Cooper Companies Price Performance

COO opened at $108.86 on Tuesday. The firm has a market capitalization of $21.68 billion, a PE ratio of 64.04, a price-to-earnings-growth ratio of 2.55 and a beta of 0.98. 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 business’s 50-day moving average is $95.10 and its two-hundred day moving average is $94.96. Cooper Companies has a 1 year low of $75.93 and a 1 year high of $109.60.

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

Insider Transactions at Cooper Companies

In other news, CAO Agostino Ricupati sold 1,601 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $108.03, for a total transaction of $172,956.03. Following the completion of the sale, the chief accounting officer now owns 4,818 shares of the company’s stock, valued at $520,488.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Agostino Ricupati sold 1,601 shares of the company’s stock in a transaction that occurred 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 directly owns 4,818 shares in the company, valued at $520,488.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Daniel G. Mcbride sold 114,992 shares of the stock in a transaction on 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 owns 44,696 shares of the company’s stock, valued at $4,714,534.08. The disclosure for this sale can be found here. Insiders have sold 141,381 shares of company stock valued at $14,927,361 over the last ninety days. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Cooper Companies

A number of institutional investors have recently modified their holdings of COO. Lincoln National Corp boosted its position in Cooper Companies by 13.9% in the 4th quarter. Lincoln National Corp now owns 768 shares of the medical device company’s stock valued at $291,000 after buying an additional 94 shares during the period. Principal Securities Inc. purchased a new stake in Cooper Companies during the 4th quarter worth about $149,000. Versor Investments LP purchased a new stake in shares of Cooper Companies during the fourth quarter worth approximately $256,000. BNP Paribas Financial Markets raised its holdings in Cooper Companies by 15.1% in the fourth quarter. BNP Paribas Financial Markets now owns 55,039 shares of the medical device company’s stock valued at $20,829,000 after acquiring an additional 7,206 shares in the last quarter. Finally, Qsemble Capital Management LP purchased a new position in Cooper Companies in the fourth quarter worth approximately $240,000. 24.39% of the stock is owned by institutional investors and hedge funds.

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.