Citigroup Lowers Cooper Companies (NASDAQ:COO) Price Target to $115.00

Cooper Companies (NASDAQ:COO) had its price objective lowered by analysts at Citigroup from $116.00 to $115.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the medical device company’s stock. Citigroup’s price objective points to a potential upside of 16.51% from the company’s previous close.

Several other equities research analysts also recently issued reports on COO. Stifel Nicolaus reissued a “buy” rating and issued a $115.00 price objective (up from $110.00) on shares of Cooper Companies in a research note on Thursday, August 29th. Piper Sandler raised their price target 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. Robert W. Baird upped their price objective on shares of 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 upgraded shares of Cooper Companies from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company boosted their price target on shares of Cooper Companies from $115.00 to $118.00 and gave the company an “overweight” rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $117.00.

Cooper Companies Trading Down 4.4 %

Shares of NASDAQ:COO opened at $98.70 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.99. The stock has a market capitalization of $19.66 billion, a price-to-earnings ratio of 50.62, a PEG ratio of 2.28 and a beta of 0.97. Cooper Companies has a 1-year low of $82.69 and a 1-year high of $112.38. The company has a 50 day moving average price of $104.49 and a 200 day moving average price of $98.80.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings data on Thursday, December 5th. The medical device company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company posted $0.87 EPS. On average, research analysts anticipate that Cooper Companies will post 4.03 EPS for the current fiscal year.

Insider Transactions at Cooper Companies

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

Hedge Funds Weigh In On Cooper Companies

A number of institutional investors and hedge funds have recently bought and sold shares of COO. Point72 Asset Management L.P. grew its position in Cooper Companies by 480.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 937,806 shares of the medical device company’s stock worth $81,870,000 after purchasing an additional 776,140 shares during the last quarter. Victory Capital Management Inc. increased its stake in Cooper Companies by 23.0% during the third quarter. Victory Capital Management Inc. now owns 3,950,119 shares of the medical device company’s stock valued at $435,856,000 after acquiring an additional 737,726 shares during the period. Magnetar Financial LLC acquired a new position in Cooper Companies in the 2nd quarter valued at approximately $63,822,000. TD Asset Management Inc bought a new stake in shares of Cooper Companies in the 2nd quarter worth approximately $53,045,000. Finally, Impax Asset Management Group plc grew its holdings in shares of Cooper Companies by 31.0% during the 2nd quarter. Impax Asset Management Group plc now owns 2,359,798 shares of the medical device company’s stock worth $205,511,000 after purchasing an additional 558,886 shares in the last quarter. 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.