Cooper Companies’ (COO) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Cooper Companies (NASDAQ:COO) in a research report sent to investors on Wednesday,Benzinga reports.

Several other equities analysts have also commented on the stock. Piper Sandler upped 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. Stifel Nicolaus restated a “buy” rating and set a $115.00 price target (up from $110.00) on shares of Cooper Companies in a research note on Thursday, August 29th. Robert W. Baird lifted their price objective on Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. StockNews.com lowered Cooper Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company lifted their target price on Cooper Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.00.

Cooper Companies Price Performance

COO opened at $104.46 on Wednesday. Cooper Companies has a 12-month low of $82.21 and a 12-month high of $112.38. The company has a market capitalization of $20.80 billion, a price-to-earnings ratio of 58.19, a PEG ratio of 2.24 and a beta of 0.99. The business’s fifty day simple moving average is $105.18 and its 200-day simple moving average is $98.60. The company has a current ratio of 1.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33.

Cooper Companies (NASDAQ:COO) last announced its quarterly earnings results on Wednesday, August 28th. The medical device company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.91 by $0.05. The business had revenue of $1 billion for 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 quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.84 EPS. On average, equities research analysts anticipate that Cooper Companies will post 3.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Daniel G. Mcbride sold 114,992 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $105.48, for a total transaction of $12,129,356.16. Following the sale, the chief operating officer now owns 44,696 shares of the company’s stock, valued at approximately $4,714,534.08. This trade represents a 72.01 % decrease in their position. The sale was disclosed in a legal filing 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 that occurred on Tuesday, September 10th. The shares were sold at an average price of $108.03, for a total transaction of $172,956.03. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold 256,373 shares of company stock worth $27,637,427 over the last 90 days. 2.00% of the stock is owned by insiders.

Institutional Trading of Cooper Companies

Several institutional investors and hedge funds have recently made changes to their positions in the company. LRI Investments LLC boosted its stake in Cooper Companies by 4.5% during the 2nd quarter. LRI Investments LLC now owns 2,595 shares of the medical device company’s stock worth $227,000 after purchasing an additional 112 shares during the period. Mitchell & Pahl Private Wealth LLC grew its holdings in shares of Cooper Companies by 1.5% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 7,986 shares of the medical device company’s stock worth $881,000 after buying an additional 117 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Cooper Companies by 0.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 15,600 shares of the medical device company’s stock valued at $1,362,000 after acquiring an additional 118 shares during the period. Bleakley Financial Group LLC raised its stake in Cooper Companies by 2.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 5,767 shares of the medical device company’s stock valued at $636,000 after acquiring an additional 119 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in Cooper Companies by 4.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,709 shares of the medical device company’s stock worth $236,000 after acquiring an additional 125 shares during the period. 24.39% of the stock is owned by hedge funds and other institutional investors.

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.