Wells Fargo & Company Raises Cooper Companies (NASDAQ:COO) Price Target to $115.00

Cooper Companies (NASDAQ:COO) had its price objective lifted by Wells Fargo & Company from $110.00 to $115.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the medical device company’s stock.

A number of other brokerages have also recently issued reports on COO. Needham & Company LLC restated a hold rating on shares of Cooper Companies in a report on Friday, August 23rd. Jefferies Financial Group upgraded shares of Cooper Companies from a hold rating to a buy rating and upped their price objective for the company from $107.00 to $115.00 in a research report on Tuesday, July 16th. Robert W. Baird lifted their target price on Cooper Companies from $116.00 to $118.00 and gave the stock an outperform rating in a report on Friday, May 31st. Finally, Piper Sandler increased their price target on Cooper Companies from $115.00 to $120.00 and gave the stock an overweight rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $113.61.

Cooper Companies Price Performance

NASDAQ COO opened at $105.73 on Thursday. Cooper Companies has a 1-year low of $75.93 and a 1-year high of $106.95. The company has a market capitalization of $21.05 billion, a price-to-earnings ratio of 62.10, a PEG ratio of 2.56 and a beta of 0.98. The stock’s 50 day moving average is $91.53 and its two-hundred day moving average is $94.22. The company has a current ratio of 1.99, a quick ratio of 1.14 and a debt-to-equity ratio of 0.33.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings data on Wednesday, August 28th. The medical device company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.05. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $997.30 million. During the same quarter last year, the business posted $0.84 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. Equities analysts forecast that Cooper Companies will post 3.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers increased its stake in Cooper Companies by 6.3% during the 2nd quarter. Cetera Investment Advisers now owns 22,244 shares of the medical device company’s stock worth $1,942,000 after acquiring an additional 1,309 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in Cooper Companies by 113.1% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 2,529 shares of the medical device company’s stock valued at $221,000 after purchasing an additional 1,342 shares during the last quarter. Quarry LP boosted its position in Cooper Companies by 1,225.9% in the second quarter. Quarry LP now owns 2,718 shares of the medical device company’s stock valued at $237,000 after buying an additional 2,513 shares in the last quarter. Wallace Advisory Group LLC bought a new stake in Cooper Companies during the 2nd quarter worth $290,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Cooper Companies by 23.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,868 shares of the medical device company’s stock worth $163,000 after purchasing an additional 354 shares during the period. Institutional investors and hedge funds 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.