Cooper Companies (NASDAQ:COO) Receives Hold Rating from Needham & Company LLC

Cooper Companies (NASDAQ:COO)‘s stock had its “hold” rating restated by Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports.

A number of other equities research analysts have also recently issued reports on the stock. Piper Sandler upped their price objective on shares of Cooper Companies from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Wells Fargo & Company upped their price target on Cooper Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Robert W. Baird raised their price objective on Cooper Companies from $118.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Stifel Nicolaus reaffirmed a “buy” rating and set a $115.00 target price (up previously from $110.00) on shares of Cooper Companies in a research report on Thursday, August 29th. Finally, StockNews.com lowered shares of Cooper Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Cooper Companies presently has an average rating of “Moderate Buy” and a consensus price target of $117.00.

Cooper Companies Stock Up 0.8 %

Shares of Cooper Companies stock opened at $103.43 on Wednesday. The stock has a 50-day simple moving average of $105.45 and a 200-day simple moving average of $98.48. Cooper Companies has a 52-week low of $82.21 and a 52-week high of $112.38. The firm has a market cap of $20.60 billion, a price-to-earnings ratio of 57.46, a P/E/G ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.99 and a quick ratio of 1.18.

Cooper Companies (NASDAQ:COO) last posted its earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share (EPS) 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 analysts’ expectations of $997.30 million. Cooper Companies had a net margin of 9.45% and a return on equity of 9.08%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 earnings per share. On average, equities research analysts expect that Cooper Companies will post 3.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Cooper Companies

In other news, COO Daniel G. Mcbride sold 114,992 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $105.48, for a total transaction of $12,129,356.16. Following the sale, the chief operating officer now directly owns 44,696 shares in the company, valued at approximately $4,714,534.08. The trade was a 72.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 value of $172,956.03. Following the completion of the transaction, the chief accounting officer now owns 4,818 shares of the company’s stock, valued at $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. Insiders sold a total of 256,373 shares of company stock valued at $27,637,427 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Cooper Companies

Several institutional investors and hedge funds have recently bought and sold shares of COO. Ashton Thomas Securities LLC acquired a new stake in Cooper Companies during the third quarter valued at approximately $25,000. Innealta Capital LLC acquired a new stake in Cooper Companies in the 2nd quarter valued at $25,000. Covestor Ltd boosted 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 valued at $37,000 after buying an additional 200 shares in the last quarter. Crewe Advisors LLC grew its position in Cooper Companies by 286.4% in the second quarter. Crewe Advisors LLC now owns 340 shares of the medical device company’s stock valued at $30,000 after acquiring an additional 252 shares during the period. Finally, Tortoise Investment Management LLC raised its stake in Cooper Companies by 75.4% during the second quarter. Tortoise Investment Management LLC now owns 393 shares of the medical device company’s stock worth $34,000 after acquiring an additional 169 shares in the last quarter. Institutional investors 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.