Cooper Companies (NASDAQ:COO) Price Target Raised to $118.00

Cooper Companies (NASDAQ:COO) had its target price lifted by Wells Fargo & Company from $115.00 to $118.00 in a report released on Friday,Benzinga reports. They currently have an overweight rating on the medical device company’s stock.

A number of other brokerages have also recently issued reports on COO. Piper Sandler upped their target price on Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a report on Friday. StockNews.com upgraded shares of Cooper Companies from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Morgan Stanley boosted their target price on shares of Cooper Companies from $95.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 10th. Finally, Robert W. Baird raised their price target on Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Cooper Companies has a consensus rating of “Moderate Buy” and an average target price of $117.00.

Cooper Companies Trading Down 4.4 %

Cooper Companies stock opened at $98.70 on Friday. Cooper Companies has a 12 month low of $82.69 and a 12 month high of $112.38. The company has a quick ratio of 1.18, a current ratio of 1.99 and a debt-to-equity ratio of 0.33. The stock has a market cap of $19.66 billion, a P/E ratio of 50.62, a P/E/G ratio of 2.28 and a beta of 0.97. The company’s fifty day simple moving average is $104.49 and its 200-day simple moving average is $98.81.

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

Insider Activity

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

Institutional Inflows and Outflows

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