Piper Sandler Reaffirms Overweight Rating for Cooper Companies (NASDAQ:COO)

Cooper Companies (NASDAQ:COO)‘s stock had its “overweight” rating restated by research analysts at Piper Sandler in a report issued on Friday,Benzinga reports. They presently have a $115.00 target price on the medical device company’s stock, down from their previous target price of $120.00. Piper Sandler’s price objective would suggest a potential upside of 35.29% from the stock’s current price.

Several other brokerages have also commented on COO. Morgan Stanley cut their price target on shares of Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Friday, December 6th. JPMorgan Chase & Co. cut their price target on shares of Cooper Companies from $120.00 to $110.00 and set an “overweight” rating for the company in a report on Friday. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a report on Friday. StockNews.com lowered shares of Cooper Companies from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Citigroup cut their price target on shares of Cooper Companies from $115.00 to $110.00 and set a “buy” rating for the company in a report on Friday. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $111.89.

Cooper Companies Stock Performance

Shares of NASDAQ COO opened at $85.00 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.12 and a debt-to-equity ratio of 0.32. Cooper Companies has a 12 month low of $82.61 and a 12 month high of $112.38. The company has a 50 day simple moving average of $92.38 and a two-hundred day simple moving average of $99.40. The stock has a market cap of $16.96 billion, a price-to-earnings ratio of 43.59, a PEG ratio of 2.25 and a beta of 1.02.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its position in shares of 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 worth $435,856,000 after purchasing an additional 737,726 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Cooper Companies during the fourth quarter worth about $691,000. Highland Capital Management LLC acquired a new stake in Cooper Companies in the fourth quarter valued at approximately $4,004,000. Caprock Group LLC acquired a new stake in Cooper Companies in the fourth quarter valued at approximately $282,000. Finally, Franklin Resources Inc. raised its holdings in Cooper Companies by 194.0% in the third quarter. Franklin Resources Inc. now owns 48,892 shares of the medical device company’s stock valued at $5,265,000 after acquiring an additional 32,260 shares in the last quarter. Institutional investors and hedge funds 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.