Morgan Stanley Raises Cooper Companies (NASDAQ:COO) Price Target to $104.00

Cooper Companies (NASDAQ:COO) had its target price boosted by Morgan Stanley from $95.00 to $104.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has an equal weight rating on the medical device company’s stock.

Several other equities analysts have also commented on COO. Robert W. Baird increased their price objective on Cooper Companies from $118.00 to $125.00 and gave the company an outperform rating in a research report on Thursday, August 29th. Wells Fargo & Company boosted their target price on Cooper Companies from $110.00 to $115.00 and gave the company an overweight rating in a research note on Thursday, August 29th. Needham & Company LLC reiterated a hold rating on shares of Cooper Companies in a research report on Thursday, August 29th. Stifel Nicolaus restated a buy rating and issued a $115.00 target price (up previously from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. Finally, Piper Sandler upped their price target on shares of Cooper Companies from $115.00 to $120.00 and gave the company an overweight rating in a report on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $115.00.

Cooper Companies Stock Up 0.3 %

COO stock opened at $108.86 on Tuesday. The stock has a 50-day simple moving average of $95.10 and a two-hundred day simple moving average of $94.96. Cooper Companies has a twelve month low of $75.93 and a twelve month high of $109.60. The firm has a market capitalization of $21.68 billion, a PE ratio of 64.04, a PEG ratio of 2.55 and a beta of 0.98. The company has a quick ratio of 1.18, a current ratio of 1.99 and a debt-to-equity ratio of 0.33.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings results 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. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $997.30 million. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 earnings per share. On average, equities analysts predict that Cooper Companies will post 3.66 EPS for the current fiscal year.

Insider Transactions at Cooper Companies

In other Cooper Companies news, CFO Brian G. Andrews sold 24,788 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $105.90, for a total transaction of $2,625,049.20. Following the completion of the transaction, the chief financial officer now owns 6,614 shares in the company, valued at approximately $700,422.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Cooper Companies news, CFO Brian G. Andrews sold 24,788 shares of Cooper Companies 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 approximately $700,422.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Agostino Ricupati sold 1,601 shares of Cooper Companies stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $108.03, for a total value of $172,956.03. Following the completion of the transaction, the chief accounting officer now owns 4,818 shares of the company’s stock, valued at approximately $520,488.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 141,381 shares of company stock valued at $14,927,361. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cooper Companies

Large investors have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Cooper Companies by 248.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the medical device company’s stock valued at $25,000 after purchasing an additional 174 shares during the period. Innealta Capital LLC bought a new stake in Cooper Companies during the 2nd quarter valued at about $25,000. Covestor Ltd boosted 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 period. Crewe Advisors LLC grew its stake in Cooper Companies by 286.4% in the second quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock worth $30,000 after purchasing an additional 252 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in Cooper Companies by 358.6% during the 1st quarter. Global Retirement Partners LLC now owns 321 shares of the medical device company’s stock worth $33,000 after purchasing an additional 251 shares during the period. 24.39% of the stock is owned by hedge funds and other institutional investors.

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.