Citigroup Has Lowered Expectations for Cooper Companies (NASDAQ:COO) Stock Price

Cooper Companies (NASDAQ:COO) had its price objective reduced by Citigroup from $116.00 to $115.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the medical device company’s stock.

COO has been the topic of a number of other reports. Wells Fargo & Company lifted their price target on shares of Cooper Companies from $115.00 to $118.00 and gave the company an “overweight” rating in a research report on Friday. StockNews.com upgraded Cooper Companies from a “hold” rating to a “buy” rating in a report on Tuesday. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a research report on Friday. Piper Sandler upped their target price on Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Robert W. Baird raised their target price on Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cooper Companies presently has an average rating of “Moderate Buy” and a consensus price target of $117.00.

Cooper Companies Stock Down 4.4 %

Shares of NASDAQ:COO opened at $98.70 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The firm has a market cap of $19.66 billion, a price-to-earnings ratio of 54.83, a PEG ratio of 2.24 and a beta of 0.97. The stock’s 50-day moving average price is $104.49 and its two-hundred day moving average price is $98.79. Cooper Companies has a 12-month low of $82.69 and a 12-month high of $112.38.

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

Insider Buying and Selling at Cooper Companies

In related news, CAO Agostino Ricupati sold 1,601 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $108.03, for a total transaction of $172,956.03. Following the sale, the chief accounting officer now owns 4,818 shares in the company, valued at $520,488.54. This represents a 24.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $12,710,065.76. Following the transaction, the chief executive officer now directly owns 165,273 shares of the company’s stock, valued at $18,267,624.69. This trade represents 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its position in Cooper Companies by 1.2% in the 3rd quarter. State Street Corp now owns 8,590,689 shares of the medical device company’s stock valued at $947,897,000 after purchasing an additional 104,521 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Cooper Companies by 3.0% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,820,590 shares of the medical device company’s stock valued at $682,738,000 after buying an additional 231,155 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Cooper Companies by 1.0% during the third quarter. Geode Capital Management LLC now owns 4,796,556 shares of the medical device company’s stock worth $527,476,000 after buying an additional 48,559 shares during the period. Victory Capital Management Inc. grew its holdings in Cooper Companies by 23.0% in the 3rd quarter. Victory Capital Management Inc. now owns 3,950,119 shares of the medical device company’s stock worth $435,856,000 after buying an additional 737,726 shares in the last quarter. Finally, Impax Asset Management Group plc increased its position in Cooper Companies by 31.0% in the 2nd quarter. Impax Asset Management Group plc now owns 2,359,798 shares of the medical device company’s stock valued at $205,511,000 after acquiring an additional 558,886 shares during the period. Institutional investors and hedge funds 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.