The Cooper Companies, Inc. (NASDAQ:COO) Sees Significant Decline in Short Interest

The Cooper Companies, Inc. (NASDAQ:COO) was the target of a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 2,800,000 shares, a decrease of 5.7% from the June 15th total of 2,970,000 shares. Based on an average daily trading volume, of 1,100,000 shares, the short-interest ratio is presently 2.5 days.

Cooper Companies Stock Up 1.9 %

COO stock traded up $1.70 during trading on Wednesday, hitting $91.84. 624,601 shares of the stock traded hands, compared to its average volume of 1,123,390. Cooper Companies has a 1 year low of $75.93 and a 1 year high of $104.07. The firm’s 50 day moving average is $91.91 and its two-hundred day moving average is $94.36. The stock has a market cap of $18.29 billion, a price-to-earnings ratio of 51.69, a price-to-earnings-growth ratio of 2.20 and a beta of 0.98. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.95 and a quick ratio of 1.14.

Cooper Companies (NASDAQ:COO) last announced its quarterly earnings results on Thursday, May 30th. The medical device company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $942.60 million for the quarter, compared to the consensus estimate of $948.07 million. Cooper Companies had a net margin of 9.11% and a return on equity of 8.87%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 EPS. On average, sell-side analysts anticipate that Cooper Companies will post 3.57 EPS for the current year.

Institutional Trading of Cooper Companies

A number of institutional investors have recently made changes to their positions in COO. Lipe & Dalton boosted its holdings in shares of Cooper Companies by 0.9% in the fourth quarter. Lipe & Dalton now owns 3,360 shares of the medical device company’s stock worth $1,272,000 after buying an additional 30 shares during the last quarter. WD Rutherford LLC boosted its holdings in shares of Cooper Companies by 0.4% in the fourth quarter. WD Rutherford LLC now owns 9,126 shares of the medical device company’s stock worth $3,541,000 after buying an additional 33 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Cooper Companies by 54.8% in the fourth quarter. Blue Trust Inc. now owns 96 shares of the medical device company’s stock worth $36,000 after buying an additional 34 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Cooper Companies by 1.2% in the fourth quarter. Franklin Resources Inc. now owns 3,401 shares of the medical device company’s stock worth $1,287,000 after buying an additional 41 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Cooper Companies by 30.4% in the fourth quarter. Venturi Wealth Management LLC now owns 180 shares of the medical device company’s stock worth $68,000 after buying an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a research report on Friday, May 31st. Jefferies Financial Group raised shares of Cooper Companies from a “hold” rating to a “buy” rating and increased their price target for the company from $107.00 to $115.00 in a research report on Tuesday. Redburn Atlantic upgraded shares of Cooper Companies from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Tuesday, March 19th. Piper Sandler restated an “overweight” rating and issued a $115.00 price objective on shares of Cooper Companies in a report on Wednesday, July 3rd. Finally, Citigroup increased their price target on shares of Cooper Companies from $108.00 to $116.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Cooper Companies currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.78.

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.