Cooper Companies (NASDAQ:COO) PT Raised to $116.00

Cooper Companies (NASDAQ:COOGet Free Report) had its price target increased by investment analysts at Citigroup from $108.00 to $116.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the medical device company’s stock. Citigroup’s price objective would suggest a potential upside of 17.47% from the stock’s current price.

A number of other research firms have also recently commented on COO. Stifel Nicolaus reissued a “buy” rating and set a $110.00 target price (up previously from $105.00) on shares of Cooper Companies in a research note on Friday, March 1st. Piper Sandler upped their price objective on shares of Cooper Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. TheStreet cut shares of Cooper Companies from a “b-” rating to a “c” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. raised shares of Cooper Companies from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $100.00 to $120.00 in a research note on Wednesday, March 13th. Finally, KeyCorp assumed coverage on shares of Cooper Companies in a research note on Tuesday, February 6th. They issued a “sector weight” rating for the company. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $109.48.

View Our Latest Research Report on COO

Cooper Companies Stock Performance

Shares of COO traded up $0.69 during trading hours on Wednesday, reaching $98.75. 159,310 shares of the company traded hands, compared to its average volume of 1,095,740. The stock has a market capitalization of $19.63 billion, a P/E ratio of 67.52, a P/E/G ratio of 2.52 and a beta of 0.94. The business has a fifty day moving average price of $97.51 and a 200-day moving average price of $89.90. Cooper Companies has a 12-month low of $75.93 and a 12-month high of $104.07. The company has a quick ratio of 1.08, a current ratio of 1.86 and a debt-to-equity ratio of 0.35.

Cooper Companies (NASDAQ:COOGet Free Report) last posted its earnings results on Thursday, February 29th. The medical device company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. The company had revenue of $931.60 million during the quarter, compared to the consensus estimate of $915.93 million. Cooper Companies had a net margin of 7.93% and a return on equity of 8.79%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.90 earnings per share. Equities analysts anticipate that Cooper Companies will post 3.5 EPS for the current fiscal year.

Insider Activity

In related news, Director Gary S. Petersmeyer sold 600 shares of the stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $84.01, for a total value of $50,404.50. Following the transaction, the director now directly owns 9,188 shares of the company’s stock, valued at approximately $771,860.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Agostino Ricupati sold 54,724 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $100.89, for a total value of $5,521,104.36. Following the completion of the sale, the chief accounting officer now owns 5,081 shares in the company, valued at $512,622.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary S. Petersmeyer sold 600 shares of Cooper Companies stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $84.01, for a total transaction of $50,404.50. Following the transaction, the director now owns 9,188 shares of the company’s stock, valued at approximately $771,860.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,324 shares of company stock worth $5,675,019. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cooper Companies

Hedge funds and other institutional investors have recently modified their holdings of the company. Symmetry Partners LLC grew its holdings in Cooper Companies by 300.0% in the first quarter. Symmetry Partners LLC now owns 2,800 shares of the medical device company’s stock valued at $284,000 after purchasing an additional 2,100 shares during the period. Canandaigua National Bank & Trust Co. lifted its position in shares of Cooper Companies by 293.4% during the first quarter. Canandaigua National Bank & Trust Co. now owns 2,844 shares of the medical device company’s stock worth $289,000 after purchasing an additional 2,121 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Cooper Companies during the fourth quarter worth $373,000. HighPoint Advisor Group LLC acquired a new stake in Cooper Companies in the fourth quarter valued at $1,964,000. Finally, PNC Financial Services Group Inc. raised its holdings in Cooper Companies by 1.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 21,385 shares of the medical device company’s stock valued at $8,093,000 after acquiring an additional 346 shares in the last quarter. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

About Cooper Companies

(Get Free Report)

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.

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