Cooper Companies (NASDAQ:COO) Sets New 1-Year Low – Should You Sell?

The Cooper Companies, Inc. (NASDAQ:COO) shares reached a new 52-week low on Thursday . The company traded as low as $77.57 and last traded at $77.61, with a volume of 213277 shares trading hands. The stock had previously closed at $79.07.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Robert W. Baird decreased their price target on shares of Cooper Companies from $117.00 to $107.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Stifel Nicolaus decreased their price target on shares of Cooper Companies from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Morgan Stanley decreased their price target on shares of Cooper Companies from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Friday, December 6th. Piper Sandler reiterated an “overweight” rating and issued a $115.00 price target (down previously from $120.00) on shares of Cooper Companies in a research note on Friday, March 7th. Finally, Wells Fargo & Company boosted their price target on shares of Cooper Companies from $115.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Cooper Companies currently has an average rating of “Moderate Buy” and an average target price of $111.89.

Cooper Companies Stock Performance

The business’s fifty day moving average price is $91.20 and its two-hundred day moving average price is $98.86. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.12 and a current ratio of 1.91. The stock has a market capitalization of $16.24 billion, a P/E ratio of 41.65, a P/E/G ratio of 2.25 and a beta of 1.02.

Cooper Companies (NASDAQ:COO) last issued its quarterly earnings results on Thursday, March 6th. The medical device company reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. The company had revenue of $964.70 million for the quarter, compared to the consensus estimate of $981.25 million. Cooper Companies had a net margin of 10.07% and a return on equity of 9.38%. As a group, sell-side analysts forecast that The Cooper Companies, Inc. will post 3.98 earnings per share for the current year.

Hedge Funds Weigh In On Cooper Companies

Hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in Cooper Companies during the 3rd quarter valued at about $25,000. Byrne Asset Management LLC bought a new position in Cooper Companies during the 4th quarter valued at about $33,000. OFI Invest Asset Management bought a new position in Cooper Companies during the 4th quarter valued at about $34,000. Covestor Ltd grew its stake in Cooper Companies by 144.9% in the 3rd quarter. Covestor Ltd now owns 338 shares of the medical device company’s stock worth $37,000 after acquiring an additional 200 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in Cooper Companies in the 4th quarter worth about $38,000. 24.39% of the stock is currently owned by 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.