Robert W. Baird Issues Pessimistic Forecast for Cooper Companies (NASDAQ:COO) Stock Price

Cooper Companies (NASDAQ:COO) had its price objective dropped by analysts at Robert W. Baird from $117.00 to $107.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the medical device company’s stock. Robert W. Baird’s target price would suggest a potential upside of 25.88% from the company’s current price.

Several other brokerages also recently commented on COO. StockNews.com downgraded Cooper Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Morgan Stanley dropped their price objective on 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. Citigroup dropped their price objective on Cooper Companies from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday. Wells Fargo & Company lifted their price target on Cooper Companies from $115.00 to $118.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $111.89.

Cooper Companies Stock Performance

Shares of Cooper Companies stock opened at $85.00 on Friday. The firm has a fifty day moving average of $92.38 and a two-hundred day moving average of $99.40. The stock has a market capitalization 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 has a 52 week low of $82.61 and a 52 week high of $112.38. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.12 and a current ratio of 1.91.

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

Hedge Funds Weigh In On Cooper Companies

Hedge funds have recently modified their holdings of the stock. State Street Corp grew its holdings in Cooper Companies by 1.2% during the third quarter. State Street Corp now owns 8,590,689 shares of the medical device company’s stock worth $947,897,000 after purchasing an additional 104,521 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of Cooper Companies by 2.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,678,965 shares of the medical device company’s stock valued at $705,928,000 after buying an additional 155,233 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Cooper Companies by 1.5% in the fourth quarter. JPMorgan Chase & Co. now owns 5,004,523 shares of the medical device company’s stock valued at $460,066,000 after buying an additional 74,501 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Cooper Companies by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 4,906,463 shares of the medical device company’s stock valued at $449,907,000 after buying an additional 109,907 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Cooper Companies by 14.6% in the fourth quarter. Victory Capital Management Inc. now owns 4,525,018 shares of the medical device company’s stock valued at $415,985,000 after buying an additional 574,899 shares in the last quarter. Institutional investors 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.