JPMorgan Chase & Co. Issues Pessimistic Forecast for Cooper Companies (NASDAQ:COO) Stock Price

Cooper Companies (NASDAQ:COO) had its target price cut by equities research analysts at JPMorgan Chase & Co. from $120.00 to $110.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the medical device company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 29.41% from the company’s current price.

COO has been the topic of a number of other research reports. Morgan Stanley cut their target price on shares of Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Friday, December 6th. StockNews.com lowered shares of Cooper Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Citigroup cut their target price on shares of Cooper Companies from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday. Robert W. Baird cut their target price on shares of Cooper Companies from $117.00 to $107.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Wells Fargo & Company lifted their target price on shares of Cooper Companies from $115.00 to $118.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $111.89.

Cooper Companies Price Performance

Shares of NASDAQ:COO opened at $85.00 on Friday. The stock has a market cap of $16.96 billion, a PE ratio of 43.59, a PEG ratio of 2.25 and a beta of 1.02. The company’s fifty day moving average is $92.38 and its 200 day moving average is $99.40. Cooper Companies has a 52 week low of $82.61 and a 52 week high of $112.38. The company has a quick ratio of 1.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.32.

Cooper Companies (NASDAQ:COO) last announced its quarterly earnings results on Thursday, March 6th. The medical device company reported $0.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.92. The business had revenue of $964.70 million for the quarter, compared to analyst estimates of $981.25 million. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. Research analysts anticipate that Cooper Companies will post 3.98 earnings per share for the current year.

Institutional Investors Weigh In On Cooper Companies

Several hedge funds have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Cooper Companies during the fourth quarter worth about $17,392,000. Jefferies Financial Group Inc. raised its holdings in Cooper Companies by 138.9% in the fourth quarter. Jefferies Financial Group Inc. now owns 48,514 shares of the medical device company’s stock worth $4,460,000 after buying an additional 28,204 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Cooper Companies by 12.4% in the fourth quarter. Mackenzie Financial Corp now owns 19,910 shares of the medical device company’s stock worth $1,830,000 after buying an additional 2,193 shares during the last quarter. Forum Financial Management LP raised its holdings in Cooper Companies by 107.3% in the fourth quarter. Forum Financial Management LP now owns 3,840 shares of the medical device company’s stock worth $353,000 after buying an additional 1,988 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new position in Cooper Companies in the fourth quarter worth about $685,000. Institutional investors own 24.39% of the company’s stock.

About Cooper Companies

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.