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 note released on Tuesday.

Several other equities research analysts have also recently commented on COO. Stifel Nicolaus reiterated 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. Morgan Stanley lifted their target price on shares of Cooper Companies from $95.00 to $104.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 10th. Robert W. Baird increased their price target on Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Piper Sandler lifted 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. Finally, Wells Fargo & Company upped their price objective on Cooper Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Cooper Companies has an average rating of “Moderate Buy” and a consensus target price of $117.00.

Cooper Companies Price Performance

COO opened at $103.23 on Tuesday. 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 company’s 50 day simple moving average is $104.84 and its 200-day simple moving average is $98.74. Cooper Companies has a one year low of $82.69 and a one year high of $112.38. The stock has a market capitalization of $20.56 billion, a P/E ratio of 57.81, a price-to-earnings-growth ratio of 2.24 and a beta of 0.97.

Cooper Companies (NASDAQ:COO) last released its earnings results on Thursday, December 5th. The medical device company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $0.87 EPS. Sell-side analysts anticipate that Cooper Companies will post 3.65 earnings per share for the current fiscal year.

Insider Activity at Cooper Companies

In other Cooper Companies news, CAO Agostino Ricupati sold 1,601 shares of the business’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 transaction of $172,956.03. Following the transaction, the chief accounting officer now owns 4,818 shares of the company’s stock, valued at $520,488.54. The trade was a 24.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Albert G. White III sold 114,992 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $110.53, for a total transaction of $12,710,065.76. Following the transaction, the chief executive officer now owns 165,273 shares in the company, valued at approximately $18,267,624.69. The trade was a 41.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cooper Companies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Innealta Capital LLC bought a new position in shares of Cooper Companies in the second quarter valued at about $25,000. Ashton Thomas Securities LLC acquired a new stake in Cooper Companies during the third quarter worth approximately $25,000. Crewe Advisors LLC boosted its holdings in shares of Cooper Companies by 286.4% during the second quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock worth $30,000 after acquiring an additional 252 shares during the period. Tortoise Investment Management LLC grew its position in shares of Cooper Companies by 75.4% in the second 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 increased its stake in shares of Cooper Companies by 144.9% during the third quarter. Covestor Ltd now owns 338 shares of the medical device company’s stock worth $37,000 after purchasing an additional 200 shares during the period. Institutional investors own 24.39% of the company’s stock.

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.