Cooper Companies (NASDAQ:COO) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Cooper Companies (NASDAQ:COO) from a hold rating to a buy rating in a research note published on Thursday morning.

COO has been the topic of a number of other research reports. Piper Sandler boosted their price objective on shares of Cooper Companies from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Stifel Nicolaus reiterated a “buy” rating and set a $115.00 price target (up from $110.00) on shares of Cooper Companies in a report on Thursday, August 29th. Morgan Stanley raised their price objective 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, September 10th. Wells Fargo & Company upped 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. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Cooper Companies currently has an average rating of “Moderate Buy” and an average target price of $117.00.

Cooper Companies Price Performance

Cooper Companies stock traded down $0.42 during midday trading on Thursday, reaching $99.44. 645,317 shares of the stock traded hands, compared to its average volume of 1,123,121. The stock has a market cap of $19.80 billion, a P/E ratio of 55.63, a PEG ratio of 2.20 and a beta of 0.99. The stock’s fifty day moving average is $106.97 and its 200-day moving average is $97.87. 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 has a 12 month low of $82.21 and a 12 month high of $112.38.

Cooper Companies (NASDAQ:COO) last posted its earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.05. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $997.30 million. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. Cooper Companies’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $0.84 earnings per share. As a group, equities research analysts anticipate that Cooper Companies will post 3.65 EPS for the current year.

Insider Buying and Selling

In other Cooper Companies news, 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 transaction of $172,956.03. Following the completion of the sale, the chief accounting officer now owns 4,818 shares of the company’s stock, valued at approximately $520,488.54. The trade was a 24.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Daniel G. Mcbride sold 114,992 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $105.48, for a total value of $12,129,356.16. Following the completion of the transaction, the chief operating officer now directly owns 44,696 shares in the company, valued at $4,714,534.08. This represents a 72.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 256,373 shares of company stock worth $27,637,427 in the last ninety days. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Cooper Companies

Several institutional investors and hedge funds have recently modified their holdings of the stock. LRI Investments LLC lifted its holdings in Cooper Companies by 4.5% in the second quarter. LRI Investments LLC now owns 2,595 shares of the medical device company’s stock valued at $227,000 after acquiring an additional 112 shares during the period. Mitchell & Pahl Private Wealth LLC boosted its stake in shares of Cooper Companies by 1.5% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 7,986 shares of the medical device company’s stock worth $881,000 after acquiring an additional 117 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of Cooper Companies by 0.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 15,600 shares of the medical device company’s stock valued at $1,362,000 after acquiring an additional 118 shares during the period. Bleakley Financial Group LLC grew its holdings in Cooper Companies by 2.1% in the third quarter. Bleakley Financial Group LLC now owns 5,767 shares of the medical device company’s stock valued at $636,000 after purchasing an additional 119 shares during the period. Finally, First Horizon Advisors Inc. increased its position in shares of Cooper Companies by 4.8% in the second quarter. First Horizon Advisors Inc. now owns 2,709 shares of the medical device company’s stock valued at $236,000 after buying an additional 125 shares in 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.