Citigroup Has Lowered Expectations for Cooper Companies (NASDAQ:COO) Stock Price

Cooper Companies (NASDAQ:COO) had its target price reduced by equities researchers at Citigroup from $115.00 to $110.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the medical device company’s stock. Citigroup’s price objective indicates a potential upside of 29.41% from the stock’s current price.

A number of other research firms also recently commented on COO. Wells Fargo & Company boosted their target price on Cooper Companies from $115.00 to $118.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. StockNews.com downgraded Cooper Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a research report on Friday. Finally, Morgan Stanley decreased their target price on Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Friday, December 6th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Cooper Companies has a consensus rating of “Moderate Buy” and an average target price of $111.89.

Cooper Companies Trading Down 6.6 %

Shares of COO stock opened at $85.00 on Friday. The business’s fifty day moving average price is $92.38 and its 200 day moving average price is $99.40. Cooper Companies has a 1-year low of $82.61 and a 1-year high of $112.38. The firm has a market capitalization of $16.96 billion, a PE ratio of 43.59, a P/E/G ratio of 2.25 and a beta of 1.02. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.12.

Cooper Companies (NASDAQ:COO) last posted its earnings results on Thursday, March 6th. The medical device company reported $0.92 EPS for the quarter, hitting analysts’ consensus estimates of $0.92. The company had revenue of $964.70 million for the quarter, compared to the consensus estimate of $981.25 million. Cooper Companies had a return on equity of 9.38% and a net margin of 10.07%. As a group, sell-side analysts forecast that Cooper Companies will post 3.98 EPS for the current fiscal year.

Institutional Trading of Cooper Companies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Stephens Inc. AR lifted its position in Cooper Companies by 16.9% during the third quarter. Stephens Inc. AR now owns 3,570 shares of the medical device company’s stock worth $394,000 after buying an additional 516 shares during the period. Asset Management One Co. Ltd. lifted its position in Cooper Companies by 1.2% during the third quarter. Asset Management One Co. Ltd. now owns 80,149 shares of the medical device company’s stock worth $8,844,000 after buying an additional 964 shares during the period. Graypoint LLC purchased a new position in Cooper Companies during the third quarter worth about $233,000. Principal Financial Group Inc. lifted its position in Cooper Companies by 6.6% during the third quarter. Principal Financial Group Inc. now owns 238,305 shares of the medical device company’s stock worth $26,295,000 after buying an additional 14,687 shares during the period. Finally, Portside Wealth Group LLC lifted its position in Cooper Companies by 6.5% during the third quarter. Portside Wealth Group LLC now owns 10,157 shares of the medical device company’s stock worth $1,121,000 after buying an additional 624 shares during the period. 24.39% of the stock is currently 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.