Cooper Companies (NASDAQ:COO) Earns “Overweight” Rating from Piper Sandler

Cooper Companies (NASDAQ:COO)‘s stock had its “overweight” rating reaffirmed by Piper Sandler in a note issued to investors on Wednesday, Benzinga reports. They currently have a $115.00 price objective on the medical device company’s stock. Piper Sandler’s target price points to a potential upside of 34.49% from the stock’s current price.

A number of other analysts have also commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Cooper Companies in a report on Friday, May 31st. Redburn Atlantic raised shares of Cooper Companies from a “neutral” rating to a “buy” rating and set a $125.00 price target on the stock in a report on Tuesday, March 19th. JPMorgan Chase & Co. raised shares of Cooper Companies from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $100.00 to $120.00 in a report on Wednesday, March 13th. Citigroup raised their target price on shares of Cooper Companies from $108.00 to $116.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, Robert W. Baird boosted their target price on shares of Cooper Companies from $116.00 to $118.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $111.42.

Cooper Companies Trading Down 1.2 %

COO stock traded down $1.00 during midday trading on Wednesday, hitting $85.51. The company had a trading volume of 612,096 shares, compared to its average volume of 1,100,423. The stock has a market cap of $17.03 billion, a price-to-earnings ratio of 50.07, a PEG ratio of 2.16 and a beta of 0.98. The company has a current ratio of 1.95, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The stock’s 50 day moving average price is $92.55 and its 200 day moving average price is $94.77. Cooper Companies has a 52 week low of $75.93 and a 52 week high of $104.07.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings data on Thursday, May 30th. The medical device company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.02. Cooper Companies had a return on equity of 8.87% and a net margin of 9.11%. The business had revenue of $942.60 million for the quarter, compared to analysts’ expectations of $948.07 million. During the same period in the previous year, the firm posted $0.77 EPS. The business’s revenue was up 7.4% on a year-over-year basis. As a group, equities research analysts expect that Cooper Companies will post 3.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. lifted its position in Cooper Companies by 54.8% during the fourth quarter. Blue Trust Inc. now owns 96 shares of the medical device company’s stock worth $36,000 after buying an additional 34 shares in the last quarter. Lindbrook Capital LLC increased its holdings in shares of Cooper Companies by 182.5% during the 4th quarter. Lindbrook Capital LLC now owns 113 shares of the medical device company’s stock worth $43,000 after buying an additional 73 shares during the last quarter. Desjardins Global Asset Management Inc. raised its position in shares of Cooper Companies by 44.8% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 152 shares of the medical device company’s stock valued at $58,000 after buying an additional 47 shares during the period. Venturi Wealth Management LLC lifted its holdings in Cooper Companies by 30.4% in the fourth quarter. Venturi Wealth Management LLC now owns 180 shares of the medical device company’s stock valued at $68,000 after acquiring an additional 42 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake in Cooper Companies by 123.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 223 shares of the medical device company’s stock worth $84,000 after acquiring an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 24.39% of the company’s stock.

Cooper Companies Company Profile

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.