Morgan Stanley Issues Pessimistic Forecast for Cooper Companies (NASDAQ:COO) Stock Price

Cooper Companies (NASDAQ:COO) had its price objective reduced by Morgan Stanley from $104.00 to $102.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the medical device company’s stock. Morgan Stanley’s price target indicates a potential upside of 3.34% from the stock’s current price.

Several other research firms have also recently weighed in on COO. Stifel Nicolaus reissued a “buy” rating and issued a $115.00 target price (up from $110.00) on shares of Cooper Companies in a research note on Thursday, August 29th. Needham & Company LLC restated a “hold” rating on shares of Cooper Companies in a research note on Friday. Wells Fargo & Company upped their target price on shares of Cooper Companies from $115.00 to $118.00 and gave the company an “overweight” rating in a report on Friday. StockNews.com upgraded Cooper Companies from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Robert W. Baird upped 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. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Cooper Companies has an average rating of “Moderate Buy” and an average price target of $117.00.

Cooper Companies Trading Down 4.4 %

NASDAQ:COO opened at $98.70 on Friday. The company has a market cap of $19.66 billion, a P/E ratio of 50.62, a price-to-earnings-growth ratio of 2.28 and a beta of 0.97. Cooper Companies has a twelve month low of $82.69 and a twelve month high of $112.38. The business has a 50 day moving average price of $104.49 and a two-hundred day moving average price of $98.80. The company has a quick ratio of 1.18, a current ratio of 1.99 and a debt-to-equity ratio of 0.33.

Cooper Companies (NASDAQ:COO) last issued its quarterly earnings results on Thursday, December 5th. The medical device company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business earned $0.87 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. As a group, analysts expect that Cooper Companies will post 4.03 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Albert G. White III sold 114,992 shares of the firm’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 transaction 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 approximately $18,267,624.69. This trade represents a 41.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Agostino Ricupati sold 1,601 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were 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 owns 4,818 shares of the company’s stock, valued at approximately $520,488.54. This trade represents a 24.94 % 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.

Hedge Funds Weigh In On Cooper Companies

Hedge funds have recently bought and sold shares of the company. Innealta Capital LLC bought a new position in Cooper Companies in the second quarter valued at about $25,000. Ashton Thomas Securities LLC acquired a new position in Cooper Companies during the 3rd quarter worth approximately $25,000. Crewe Advisors LLC lifted its stake in Cooper Companies by 286.4% in the 2nd quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 252 shares during the last quarter. Tortoise Investment Management LLC grew its stake in shares of Cooper Companies by 75.4% during the second quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company’s stock worth $34,000 after buying an additional 169 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of Cooper Companies by 144.9% during the third quarter. Covestor Ltd now owns 338 shares of the medical device company’s stock worth $37,000 after buying an additional 200 shares during the last quarter. 24.39% of the stock is owned by 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.