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

Cooper Companies (NASDAQ:COO) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

Several other research firms also recently weighed in on COO. Wells Fargo & Company increased their price target on Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a research note on Thursday, August 29th. Morgan Stanley upped their price target on shares of Cooper Companies from $95.00 to $104.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 10th. Piper Sandler raised their price objective on shares of Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $115.00 target price (up previously from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.00.

Cooper Companies Stock Performance

Shares of COO stock opened at $99.63 on Thursday. 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 fifty day simple moving average of $106.83 and a two-hundred day simple moving average of $97.93. Cooper Companies has a 12 month low of $82.21 and a 12 month high of $112.38. The firm has a market capitalization of $19.84 billion, a PE ratio of 55.50, a price-to-earnings-growth ratio of 2.20 and a beta of 0.99.

Cooper Companies (NASDAQ:COO) last issued its quarterly earnings data on Wednesday, August 28th. The medical device company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.05. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $997.30 million. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The company’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 posted $0.84 EPS. Analysts forecast that Cooper Companies will post 3.65 EPS 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 that occurred 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 transaction, the chief operating officer now directly owns 44,696 shares in the company, valued at approximately $4,714,534.08. This trade represents a 72.01 % decrease in their ownership of the stock. 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 stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 4,818 shares in the company, valued at approximately $520,488.54. This represents a 24.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 256,373 shares of company stock worth $27,637,427 over the last ninety days. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cooper Companies

Several hedge funds and other institutional investors have recently bought and sold shares of COO. Barclays PLC grew its holdings in shares of Cooper Companies by 0.7% in the third quarter. Barclays PLC now owns 462,947 shares of the medical device company’s stock worth $51,082,000 after acquiring an additional 3,070 shares during the period. Nomura Asset Management Co. Ltd. increased its position in shares of Cooper Companies by 8.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 58,703 shares of the medical device company’s stock valued at $6,477,000 after purchasing an additional 4,408 shares during the last quarter. MML Investors Services LLC lifted its stake in shares of Cooper Companies by 1.6% in the 3rd quarter. MML Investors Services LLC now owns 17,787 shares of the medical device company’s stock worth $1,963,000 after purchasing an additional 280 shares during the period. iSAM Funds UK Ltd purchased a new position in shares of Cooper Companies in the third quarter worth approximately $501,000. Finally, Worldquant Millennium Advisors LLC grew its position in Cooper Companies by 1,701.1% during the third quarter. Worldquant Millennium Advisors LLC now owns 76,854 shares of the medical device company’s stock valued at $8,480,000 after buying an additional 72,587 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.