Cooper Companies (NASDAQ:COO) Reaches New 52-Week Low on Analyst Downgrade

The Cooper Companies, Inc. (NASDAQ:COO) reached a new 52-week low during mid-day trading on Friday after Stifel Nicolaus lowered their price target on the stock from $115.00 to $105.00. Stifel Nicolaus currently has a buy rating on the stock. Cooper Companies traded as low as $82.61 and last traded at $85.12, with a volume of 517147 shares changing hands. The stock had previously closed at $90.98.

A number of other analysts also recently issued reports on the stock. Robert W. Baird lowered their price objective on shares of Cooper Companies from $117.00 to $107.00 and set an “outperform” rating on the stock in a report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a report on Friday. Citigroup lowered their price objective on shares of Cooper Companies from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Friday. Morgan Stanley lowered 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 report on Friday, December 6th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Cooper Companies from $120.00 to $110.00 and set an “overweight” rating on the stock in a report 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $111.89.

Hedge Funds Weigh In On Cooper Companies

Several institutional investors and hedge funds have recently modified their holdings of COO. Ashton Thomas Securities LLC acquired a new position in shares of Cooper Companies in the third quarter valued at $25,000. Byrne Asset Management LLC acquired a new position in shares of Cooper Companies in the fourth quarter valued at $33,000. OFI Invest Asset Management acquired a new position in shares of Cooper Companies in the fourth quarter valued at $34,000. Covestor Ltd boosted its position in shares of Cooper Companies by 144.9% in the third quarter. Covestor Ltd now owns 338 shares of the medical device company’s stock valued at $37,000 after acquiring an additional 200 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Cooper Companies in the fourth quarter valued at about $38,000. 24.39% of the stock is currently owned by institutional investors and hedge funds.

Cooper Companies Stock Performance

The stock’s 50-day moving average price is $92.52 and its 200-day moving average price is $99.45. The company has a market cap of $16.96 billion, a P/E ratio of 43.59, a PEG 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 announced its earnings results on Thursday, March 6th. The medical device company reported $0.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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%. Equities analysts anticipate that The Cooper Companies, Inc. will post 3.98 EPS for the current year.

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.