The Cooper Companies, Inc. (NASDAQ:COO) Short Interest Update

The Cooper Companies, Inc. (NASDAQ:COO) was the target of 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.

Cooper Companies Trading Down 0.4 %

NASDAQ:COO opened at $87.30 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.95. The firm has a market cap of $17.38 billion, a P/E ratio of 51.28, a P/E/G ratio of 2.16 and a beta of 0.98. The firm has a 50-day simple moving average of $92.73 and a 200-day simple moving average of $94.84. Cooper Companies has a one year low of $75.93 and a one year high of $104.07.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings data on Thursday, May 30th. The medical device company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. The firm had revenue of $942.60 million during the quarter, compared to analyst estimates of $948.07 million. Cooper Companies had a net margin of 9.11% and a return on equity of 8.87%. Cooper Companies’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.77 EPS. Equities analysts anticipate that Cooper Companies will post 3.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Lipe & Dalton lifted its holdings in Cooper Companies by 0.9% during the fourth quarter. Lipe & Dalton now owns 3,360 shares of the medical device company’s stock valued at $1,272,000 after purchasing an additional 30 shares in the last quarter. WD Rutherford LLC lifted its holdings in Cooper Companies by 0.4% during the fourth quarter. WD Rutherford LLC now owns 9,126 shares of the medical device company’s stock valued at $3,541,000 after purchasing an additional 33 shares in the last quarter. Blue Trust Inc. lifted its holdings in Cooper Companies by 54.8% during the fourth quarter. Blue Trust Inc. now owns 96 shares of the medical device company’s stock valued at $36,000 after purchasing an additional 34 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Cooper Companies by 1.2% during the fourth quarter. Franklin Resources Inc. now owns 3,401 shares of the medical device company’s stock valued at $1,287,000 after purchasing an additional 41 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in Cooper Companies by 30.4% during the fourth quarter. Venturi Wealth Management LLC now owns 180 shares of the medical device company’s stock valued at $68,000 after purchasing an additional 42 shares in the last quarter. Institutional investors and hedge funds own 24.39% of the company’s stock.

Analysts Set New Price Targets

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

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.