Cooper Companies (NASDAQ:COO) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Cooper Companies (NASDAQ:COO) from a hold rating to a buy rating in a research report report published on Thursday morning.

A number of other equities analysts have also weighed in on the company. Piper Sandler boosted their price objective on Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Stifel Nicolaus reissued a “buy” rating and set a $115.00 price target (up previously from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. Robert W. Baird raised 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 Thursday, August 29th. Finally, Wells Fargo & Company increased their price target 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. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $117.00.

Cooper Companies Price Performance

NASDAQ COO traded down $0.42 during mid-day trading on Thursday, hitting $99.44. The stock had a trading volume of 645,317 shares, compared to its average volume of 1,123,121. Cooper Companies has a twelve month low of $82.21 and a twelve month high of $112.38. The stock has a market capitalization of $19.80 billion, a price-to-earnings ratio of 55.63, a PEG ratio of 2.20 and a beta of 0.99. The firm’s 50 day moving average is $106.97 and its 200 day moving average is $97.87. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.99 and a quick ratio of 1.18.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.05. The firm 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%. Cooper Companies’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 earnings per share. Equities research analysts forecast that Cooper Companies will post 3.65 earnings per share for the current fiscal year.

Insider Activity at Cooper Companies

In other news, COO Daniel G. Mcbride sold 114,992 shares of Cooper Companies stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $105.48, for a total transaction of $12,129,356.16. Following the completion of the sale, the chief operating officer now directly owns 44,696 shares of the company’s stock, valued at approximately $4,714,534.08. The trade was a 72.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Agostino Ricupati sold 1,601 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $108.03, for a total transaction 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. The trade was a 24.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 256,373 shares of company stock worth $27,637,427. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Cooper Companies by 303.0% in the 1st quarter. Vanguard Group Inc. now owns 23,099,975 shares of the medical device company’s stock valued at $2,343,723,000 after purchasing an additional 17,367,502 shares during the last quarter. Capital World Investors boosted its holdings in shares of Cooper Companies by 301.7% in the first quarter. Capital World Investors now owns 5,654,023 shares of the medical device company’s stock valued at $573,657,000 after acquiring an additional 4,246,519 shares during the period. Janus Henderson Group PLC grew its position in shares of 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 acquiring an additional 2,532,186 shares during the last quarter. Bessemer Group Inc. grew its position in shares of 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 acquiring an additional 1,507,049 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of Cooper Companies in the 1st quarter valued at $139,246,000. 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.