StockNews.com Downgrades Cooper Companies (NASDAQ:COO) to Hold

Cooper Companies (NASDAQ:COO) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

COO has been the topic of several other research reports. Wells Fargo & Company increased their price objective on Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Robert W. Baird boosted their target price on shares of Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Morgan Stanley increased 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Cooper Companies in a research report on Thursday, August 29th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $115.00 price target (up from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Cooper Companies has a consensus rating of “Moderate Buy” and a consensus target price of $117.00.

Cooper Companies Trading Up 0.9 %

Shares of Cooper Companies stock opened at $99.96 on Wednesday. The stock’s 50 day simple moving average is $106.11 and its 200-day simple moving average is $98.20. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.99 and a quick ratio of 1.18. The stock has a market cap of $19.91 billion, a P/E ratio of 55.69, a P/E/G ratio of 2.14 and a beta of 0.99. Cooper Companies has a 1-year low of $82.21 and a 1-year high of $112.38.

Cooper Companies (NASDAQ:COO) last announced its quarterly earnings data on Wednesday, August 28th. The medical device company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.05. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $997.30 million. During the same quarter in the previous year, the business posted $0.84 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts predict that Cooper Companies will post 3.65 EPS for the current fiscal year.

Insider Activity

In other Cooper Companies news, COO Daniel G. Mcbride sold 114,992 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $105.48, for a total transaction of $12,129,356.16. Following the transaction, the chief operating officer now directly owns 44,696 shares in the company, valued at approximately $4,714,534.08. This represents a 72.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Agostino Ricupati sold 1,601 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $108.03, for a total transaction of $172,956.03. Following the completion of the transaction, the chief accounting officer now directly owns 4,818 shares in the company, valued at approximately $520,488.54. The trade was a 24.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 256,373 shares of company stock worth $27,637,427. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cooper Companies

Several large investors have recently modified their holdings of COO. Quent Capital LLC boosted its position in Cooper Companies by 300.0% during the first quarter. Quent Capital LLC now owns 828 shares of the medical device company’s stock valued at $84,000 after purchasing an additional 621 shares during the last quarter. Orion Portfolio Solutions LLC boosted its position in Cooper Companies by 268.3% during the first quarter. Orion Portfolio Solutions LLC now owns 11,546 shares of the medical device company’s stock worth $1,171,000 after purchasing an additional 8,411 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Cooper Companies by 300.0% in the first quarter. Acadian Asset Management LLC now owns 720 shares of the medical device company’s stock valued at $73,000 after purchasing an additional 540 shares during the last quarter. Covestor Ltd increased its holdings in shares of Cooper Companies by 305.9% in the first quarter. Covestor Ltd now owns 276 shares of the medical device company’s stock valued at $28,000 after purchasing an additional 208 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of Cooper Companies by 300.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,200 shares of the medical device company’s stock worth $223,000 after buying an additional 1,650 shares during the last quarter. 24.39% of the stock is currently owned by 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.