StockNews.com Upgrades Cooper Companies (NASDAQ:COO) to “Buy”

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

A number of other brokerages also recently weighed in on COO. Piper Sandler upped their target price on Cooper Companies from $115.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Wells Fargo & Company increased their target price on shares of Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Robert W. Baird boosted their price target on shares of Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Needham & Company LLC reiterated a “hold” rating on shares of Cooper Companies in a report on Thursday, August 29th. Finally, Morgan Stanley boosted their target price on Cooper Companies from $95.00 to $104.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $117.00.

Cooper Companies Stock Down 0.2 %

COO stock opened at $99.63 on Thursday. The firm has a market cap of $19.84 billion, a PE ratio of 55.50, a P/E/G ratio of 2.15 and a beta of 0.99. Cooper Companies has a 12 month low of $82.21 and a 12 month high of $112.38. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.99 and a quick ratio of 1.18. The firm has a 50 day simple moving average of $106.83 and a 200 day simple moving average of $98.06.

Cooper Companies (NASDAQ:COO) last issued its earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.05. Cooper Companies had a return on equity of 9.08% and a net margin of 9.45%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $997.30 million. During the same period in the previous year, the firm posted $0.84 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts forecast that Cooper Companies will post 3.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Daniel G. Mcbride sold 114,992 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $105.48, for a total value of $12,129,356.16. Following the completion of the sale, the chief operating officer now directly owns 44,696 shares of the company’s stock, valued at approximately $4,714,534.08. This represents a 72.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Agostino Ricupati sold 1,601 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $108.03, for a total transaction of $172,956.03. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 256,373 shares of company stock valued at $27,637,427. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Cooper Companies

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Cooper Companies by 303.0% during the first quarter. Vanguard Group Inc. now owns 23,099,975 shares of the medical device company’s stock worth $2,343,723,000 after acquiring an additional 17,367,502 shares in the last quarter. State Street Corp increased its position in shares of Cooper Companies by 1.2% during the 3rd quarter. State Street Corp now owns 8,590,689 shares of the medical device company’s stock worth $947,897,000 after purchasing an additional 104,521 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Cooper Companies by 3.0% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,820,590 shares of the medical device company’s stock worth $682,738,000 after purchasing an additional 231,155 shares in the last quarter. Capital World Investors lifted its holdings in Cooper Companies by 301.7% during the 1st quarter. Capital World Investors now owns 5,654,023 shares of the medical device company’s stock valued at $573,657,000 after purchasing an additional 4,246,519 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Cooper Companies by 1.0% in the third quarter. Geode Capital Management LLC now owns 4,796,556 shares of the medical device company’s stock valued at $527,476,000 after buying an additional 48,559 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.