Cooper Companies (NASDAQ:COO) Reaches New 12-Month High at $109.60

The Cooper Companies, Inc. (NASDAQ:COO) hit a new 52-week high on Thursday . The stock traded as high as $109.60 and last traded at $107.80, with a volume of 111842 shares. The stock had previously closed at $108.51.

Analyst Ratings Changes

A number of analysts recently commented on COO shares. Morgan Stanley lifted 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 note on Tuesday. Piper Sandler lifted their target price on Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Wells Fargo & Company increased their price target on shares of Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $115.00 price objective (up from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. Finally, 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 research report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.00.

Cooper Companies Stock Performance

The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.99. The firm has a market capitalization of $22.01 billion, a PE ratio of 65.02, a price-to-earnings-growth ratio of 2.60 and a beta of 0.98. The firm’s 50 day moving average price is $95.59 and its 200-day moving average price is $95.08.

Cooper Companies (NASDAQ:COO) last issued its quarterly earnings data on Wednesday, August 28th. The medical device company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.91 by $0.05. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $997.30 million. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. Cooper Companies’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $0.84 earnings per share. On average, research analysts expect that The Cooper Companies, Inc. will post 3.66 EPS for the current year.

Insiders Place Their Bets

In related 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 completion of the transaction, the chief operating officer now owns 44,696 shares in the company, valued at approximately $4,714,534.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, COO Daniel G. Mcbride sold 114,992 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $105.48, for a total transaction of $12,129,356.16. Following the completion of the sale, the chief operating officer now directly owns 44,696 shares in the company, valued at $4,714,534.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian G. Andrews sold 24,788 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $105.90, for a total value of $2,625,049.20. Following the completion of the transaction, the chief financial officer now directly owns 6,614 shares of the company’s stock, valued at $700,422.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 141,381 shares of company stock worth $14,927,361. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Cooper Companies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Treasurer of the State of North Carolina raised its holdings in shares of Cooper Companies by 0.9% during the 4th quarter. Treasurer of the State of North Carolina now owns 22,861 shares of the medical device company’s stock worth $8,652,000 after acquiring an additional 212 shares during the period. Hsbc Holdings PLC boosted its holdings in Cooper Companies by 55.3% in the 4th quarter. Hsbc Holdings PLC now owns 87,718 shares of the medical device company’s stock valued at $33,188,000 after purchasing an additional 31,234 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Cooper Companies in the 1st quarter valued at approximately $2,211,000. Whittier Trust Co. grew its stake in shares of Cooper Companies by 298.9% in the 1st quarter. Whittier Trust Co. now owns 11,940 shares of the medical device company’s stock valued at $1,211,000 after buying an additional 8,947 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Cooper Companies by 43.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 35,233 shares of the medical device company’s stock worth $3,076,000 after buying an additional 10,616 shares during 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.